U.S. patent application number 09/867416 was filed with the patent office on 2002-12-19 for data distribution method and sytem.
Invention is credited to Hall, Stephen A., Javdan, David G., Moore, Robert B..
Application Number | 20020194051 09/867416 |
Document ID | / |
Family ID | 25349740 |
Filed Date | 2002-12-19 |
United States Patent
Application |
20020194051 |
Kind Code |
A1 |
Hall, Stephen A. ; et
al. |
December 19, 2002 |
Data distribution method and sytem
Abstract
A method for distributing data among automotive dealers,
including selecting the data from the dealers, processing the data,
and providing the processed data to the dealers while maintaining
confidentiality of individual data of each dealer. The selecting of
the data further includes collecting data indicating which vehicles
are in demand. The data includes at least one of a number of a
vehicle's make a dealer has in stock, a vehicle identification
number, a vehicle's year, a vehicle's make, a vehicle's model, a
vehicle's body style, a vehicle's exterior color, a vehicle's
interior color, a vehicle's mileage, a vehicle's retail asking
price, a vehicle's transactions cost, a vehicle's reconditioning
cost, a vehicle's age, a vehicle's selling price, a vehicle's gross
profit, an acquisition need of a vehicle, a selling need of a
vehicle, a vehicle's image, a vehicle's turnover rate, or an
aggregate of any of the above-listed data. The distributed data may
provide optimization on return on investments to the dealers.
Inventors: |
Hall, Stephen A.;
(Alexandria, VA) ; Javdan, David G.; (Potomac,
MD) ; Moore, Robert B.; (Springfield, VA) |
Correspondence
Address: |
PILLSBURY WINTHROP, LLP
P.O. BOX 10500
MCLEAN
VA
22102
US
|
Family ID: |
25349740 |
Appl. No.: |
09/867416 |
Filed: |
May 31, 2001 |
Current U.S.
Class: |
705/7.31 ;
705/29; 705/37; 705/38; 705/7.33; 705/7.37; 707/999.005 |
Current CPC
Class: |
G06Q 30/0275 20130101;
G06Q 30/0611 20130101; G06Q 50/16 20130101; G06Q 30/08 20130101;
G06Q 10/06375 20130101; G06Q 10/04 20130101; G06Q 10/06 20130101;
G06Q 40/025 20130101; G06Q 30/0201 20130101; G06Q 10/0875 20130101;
G06Q 40/04 20130101; G06Q 30/0202 20130101; G06Q 30/02 20130101;
G06Q 30/0204 20130101 |
Class at
Publication: |
705/10 ; 707/5;
705/29; 705/37; 705/38 |
International
Class: |
G06F 017/60; G06F
017/30 |
Claims
What is claimed:
1. A method for distributing data among competitive dealers,
comprising: selecting the data from the dealers; processing the
data; and providing the processed data to the dealers while
maintaining confidentiality of individual data of each dealer.
2. A method of claim 1, wherein the selecting of the data further
comprises collecting data indicating which vehicles are in
demand.
3. A method of claim 2, wherein the data includes at least one of a
number of a vehicle's make a dealer has in stock, a vehicle
identification number, a vehicle's year, a vehicle's make, a
vehicle's model, a vehicle's body style, a vehicle's exterior
color, a vehicle's interior color, a vehicle's mileage, a vehicle's
retail asking price, a vehicle's transactions cost, a vehicle's
reconditioning cost, a vehicle's age, a vehicle's selling price, a
vehicle's gross profit, an acquisition need of a vehicle, a selling
need of a vehicle, a vehicle's image, a vehicle's turnover rate, or
an aggregate of any of the above-listed data.
4. A method of claim 1, wherein the distributed data provide
optimization on return on investments to the dealers.
5. A method for networking dealers managing systems, comprising:
pooling data from the dealers managing systems to produce aggregate
data while maintaining confidentiality of individual data of each
dealer; and sharing the aggregate data among the dealers; wherein
the dealers use the aggregate data to benchmark the dealers' market
situations and to better understand the dealers' marketplace.
6. A method of claim 5, wherein the aggregate data includes
aggregates of at least one of each dealer's sales history, each
dealer's inventory, each dealer's manufacturing brand, each
dealer's size, other dealers' inventories, a list of vehicles a
dealer needs to sell, data relating to how certain dealers do with
specific vehicles, book values of vehicles, description of
vehicles, and offers on vehicles from other dealers.
7. A method of claim 6, further providing to the dealer a list of
dealers who might be interested in the list of vehicles the dealer
needs to sell.
8. A method of claim 5, wherein the marketplace is at least one of
a local, a regional, or a national marketplace.
9. A method of claim 5, wherein the dealers are at least one of a
franchise dealer, a wholesale dealer, a retail dealer, or an
independent dealer.
10. A method of claim 5, further comprising capturing data from
buying dealers to better understand the buying dealers' interests
or habits.
11. A method of claim 5, further comprising capturing buying habits
of wholesalers and dealers to identify which wholesalers or dealers
have a high demand for a specific vehicle.
12. A method of claim 11, further comprising contacting the
wholesalers or dealers that have the high demand for the specific
vehicle.
13. A method of claim 5, further comprising providing the aggregate
data to a franchise dealer to allow the franchise dealer to
streamline its vehicles among the franchise dealer's
dealerships.
14. A method of claim 5, further comprising providing the aggregate
data to a transportation company.
15. A method of claim 5, wherein the dealers use the aggregate data
to determine which bank is most profitable to finance a
vehicle.
16. A method of claim 5, further comprising providing the aggregate
data to a registered auction house such that the auction house can
determine its market situations.
17. A method of claim 5, wherein the aggregate data is put up for
bid to dealers that do not participate in the dealers managing
systems network.
18. A method of claim 5, wherein the aggregate data is sold to a
service company.
19. A method of claim 5, wherein dealers that participate in the
dealers managing systems network are compensated for the aggregate
data when the aggregate data is distributed to
non-participants.
20. A method for keeping a dealership apprized of changing market
conditions, comprising: providing a to do list in response to the
changing market conditions; and making recommendations to the
dealership with regard to selling and buying of vehicles.
21. A method of claim 20, wherein the providing the to do list
further comprises monitoring the dealership's and other dealers'
inventories; monitoring the dealership's and other dealers' sales
histories; and monitoring the market conditions to determine which
dealers have high probabilities of selling vehicles for high
profits in short periods of time before making recommendations to
the dealership regarding the selling and buying of the
vehicles.
22. A method of claim 20, wherein the to do list includes at least
one of a number of vehicles in retail inventory, a number of
vehicles in wholesale inventory, a total number of vehicles in
inventory, a recommendation to increase or decrease the total
number of vehicles in inventory, a number of vehicles needing
review retail purchase needs, a number of retail vehicles today, a
number vehicles to watch, a number of wholesale purchase offers, a
number of vehicles for wholesale center, a number of current day
supply of vehicles, a number of target day supply of vehicles, or a
review activity summary.
23. A method of claim 22, wherein the number of retail vehicles
today includes vehicles that are approaching a predetermined age
threshold set by the dealership to go on the wholesale
inventory.
24. A method of claim 22, wherein the number of current day supply
of vehicles is a number of days it takes a dealership to sell its
inventory based on at least one of the dealership's sales history,
the dealership's current inventory, the dealership's supply of
vehicles, or an amount of money that is tied up in the dealership's
inventory.
25. A method of claim 22, wherein the number of target day supply
of vehicles is a predetermined number of days the dealership had
set as a goal for the number of days of inventory on hand.
26. A method for selling vehicles among competitive dealers,
comprising: determining whether a vehicle meets its dealer's
predefined goals; flagging vehicles that do not meet their dealers'
predefined goals; and placing a smart score ranking of potential
buying dealers for each of the flagged vehicles.
27. A method of claim 26, wherein the smart score is based on at
least one of a number of bids a buying dealer made in the last
predetermined number of days; a current day supply of a make and
model of a vehicle for the buying dealer according to a
predetermined average of the make and model of the vehicle sold
over a predetermined number of days; a current day supply of a
make, model, and year of a vehicle for the buying dealer according
to a predetermined average of the make, model, and year of the
vehicle sold over a predetermined number of months; current day
supply of a make, model, and price of a vehicle for the buying
dealer according to a predetermined average of the make, model, and
price of the vehicle sold over a predetermined number of days; a
current day supply of a make, model, and mileage of a vehicle for
the buying dealer according to a predetermined average of the make,
model, and mileage of the vehicle sold over a predetermined number
of days; a current day supply of a make, model, and mileage of a
vehicle for the buying dealer according to a predetermined average
of the make, model, and mileage of the vehicle sold over a
predetermined number of days; how many vehicles of the same make
and model the buying dealer sold over a predetermined number of
days; the buying dealer's return on investment for the make and
model over a predetermined number of months; how many and what
combinations of the same year, make, and model of the vehicle the
buying dealer purchased over a predetermined number of days; how
many and what combinations of the same year, make, and model of the
vehicle the buying dealer has bid on over a predetermined number of
days; the buying dealer being a member of a same dealer group; the
vehicle matching an entry in the buying dealer's buy list; or how
close the vehicle matches an entry in the buying dealer's buy
list.
28. A method of claim 27, wherein a selling dealer sets the scores
that make up the smart score for a buying dealer.
29. A method of claim 26, further comprising recommending a dealer
to sell a flagged vehicle by at least putting the vehicle on a
wholesale center or a watch list.
30. A method of claim 29, wherein a buying dealer with a higher
smart score is recommended to a selling dealer over a buying dealer
with a lower smart score.
31. A method of claim 26, wherein a dealer's predefined goals
include at least one of the dealer's historical return on
investment on a vehicle, the dealer's request for vehicles with a
predetermined mileage, a number of vehicles the dealer wants to
sell in a year, a number of vehicles the dealer has in stock, or an
inventory turn.
32. A method of claim 26, wherein each dealer may limit the dealers
it wishes to deal with.
33. A method for alerting a potential buyer of a used vehicle,
comprising: collecting data from dealers; processing the data; and
notifying the potential buyer of the processed data by using at
least a fax device, a desktop computing device, a portable message
device, a portable voice device, a telephone, a pager, or a WAP
device while maintaining confidentiality of individual data of each
dealer.
34. A method of claim 33, wherein the processed data includes an
identification number for the buyer to go online and get additional
data on the used vehicle.
35. A method of claim 34, wherein the potential buyer gets an
instant message of the processed data on any of the notification
devices.
36. A method of claim 33, wherein a potential seller can get an
Appraisal Activity on a vehicle and place an order on the vehicle
based on the Appraisal Activity.
37. A method for instantly appraising vehicles by a community of
dealers over a computer network, comprising: creating the community
of dealers to appraise the vehicles; and appraising a vehicle in a
marketplace that is at least one of a local marketplace, a regional
marketplace, or a national marketplace.
38. A method of claim 37, wherein the creating of the community is
done electronically based on at least one of the dealers' working
relationships with each other, the dealers' registration with all
the other dealers, or the dealers' performance in appraising
vehicles.
39. An apparatus for determining distributed data among competitive
dealers, comprising a device programmed to select the data from the
dealers, process the data, and provide the processed data to the
dealers while maintaining confidentiality of individual data of
each dealer.
40. An apparatus of claim 39, wherein the data to be selected
includes at least one of a number of a vehicle's make that a dealer
has in stock, a vehicle identification number, a vehicle's year, a
vehicle's make, a vehicle's model, a vehicle's body style, a
vehicle's exterior color, a vehicle's interior color, a vehicle's
mileage, a vehicle's retail asking price, a vehicle's transactions
cost, a vehicle's reconditioning cost, a vehicle's age, a vehicle's
selling price, a vehicle's gross profit, an acquisition need of a
vehicle, a selling need of a vehicle, a vehicle's image, a
vehicle's turnover rate, or an aggregate of any of the above-listed
data.
41. An apparatus of claim 39, wherein the distributed data provide
optimization on return on investments to the dealers.
42. A system to network dealers managing systems among competitive
dealers, comprising: a pooling device programmed to pool data from
the dealers managing systems to produce aggregate data while
maintaining confidentiality of individual data of each dealers
managing system; and a sharing device programmed to share the
aggregate data among the dealers; wherein the dealers use the
aggregate data to benchmark the dealers' market situations and to
better understand the dealers' marketplace.
43. A system of claim 42, wherein the aggregate data that is
produced by the collecting device includes aggregates of at least
one of each dealer's sales history, each dealer's inventory, each
dealer's manufacturing brand, each dealer's size, other dealers'
inventories, a list of vehicles a dealer needs to sell, data
relating to how certain dealers do with specific vehicles, book
values of vehicles, description of vehicles, and offers on vehicles
from other dealers.
44. A system of claim 43, further comprising a device programmed to
provide to the dealer a list of dealers who might be interested in
the list of vehicles the dealer needs to sell.
45. A system of claim 42, wherein the marketplace is at least one
of a local, a regional, or a national marketplace.
46. A system of claim 42, wherein the dealers are at least one of a
franchise dealer, a wholesale dealer, a retail dealer, or an
independent dealer.
47. A system of claim 42, wherein the collecting device captures
data from buying dealers to better understand the buying dealers'
interests or habits.
48. A system of claim 42, wherein the pooling device is programmed
to capture buying habits of wholesalers and dealers to identify
which wholesalers or dealers have a high demand for a specific
vehicle.
49. A system of claim 48, further comprising a contacting device
programmed to contact the wholesalers or dealers that have the high
demand for the specific vehicle.
50. A system of claim 42, wherein the sharing device further
provides the aggregate data to a franchise dealer to allow the
franchise dealer to streamline its vehicles among the franchise
dealer's dealerships.
51. A system of claim 42, wherein the sharing device further
provides the aggregate data to a transportation company.
52. A system of claim 42, wherein the dealers use the aggregate
data to determine which bank is most profitable to finance a
vehicle.
53. A system of claim 42, wherein the sharing device further
provides the aggregate data to a registered auction house such that
the auction house can determine its market situations.
54. An apparatus to keep a dealership apprized of changing market
conditions, comprising a device programmed to provide a to do list
in response to the changing market conditions and to make
recommendations to the dealership with regard to selling and buying
of vehicles.
55. An apparatus of claim 54, wherein the device is further
programmed to monitors the dealership's and other dealers'
inventories, to monitor the dealership's and other dealers' sales
histories, and to monitor the market conditions to determine which
dealers have high probabilities of selling vehicles for high
profits in short periods of time before it makes recommendations to
the dealership regarding the selling and buying of the
vehicles.
56. An apparatus of claim 54, wherein the to do list includes at
least one of a number of vehicles in retail inventory, a number of
vehicles in a retail showroom, a number of vehicles in wholesale
inventory, a total number of vehicles in inventory, a
recommendation to increase or decrease the total number of vehicles
in inventory, a number of vehicles needing review retail purchase
needs, a number of retail vehicles today, a number vehicles to
watch, a number of wholesale purchase offers, a number of vehicles
for wholesale center, a number of current day supply of vehicles, a
number of target day supply of vehicles, or a review activity
summary.
57. An apparatus of claim 56, wherein the number of retail vehicles
today includes vehicles that are approaching a predetermined age
threshold set by the dealership to go on the wholesale
inventory.
58. An apparatus of claim 56, wherein the number of current day
supply of vehicles is a number of days it takes a dealership to
sell its inventory based on at least one of the dealership's sales
history, the dealership's current inventory, the dealership's
supply of vehicles, or an amount of money that is tied up in the
dealership's inventory.
59. An apparatus of claim 56, wherein the number of target day
supply of vehicles is a predetermined number of days the dealership
had set as a goal for the number of days of inventory on hand.
60. A system for alerting a potential buyer of a used vehicle,
comprising: a device programmed to collect data from dealers and to
process the data; and a notification device to notify the potential
buyer of the processed data including at least one of a fax device,
a desktop computing device, a portable message device, a portable
voice device, a telephone, a pager, or a WAP device while
maintaining confidentiality of individual data of each dealer.
61. A system of claim 60, wherein the processed data includes an
identification number for the buyer to go online and get additional
data on the used vehicle.
62. A system of claim 61, wherein the potential buyer gets an
instant message of the processed data on any of the notification
devices.
Description
BACKGROUND OF THE INVENTION
[0001] 1. Field of the Invention
[0002] The present invention generally relates to E-Commerce, and
more specifically, to apparatuses, systems, and methods for
distributing data.
[0003] 2. Description of Related Art
[0004] Doing business on the World Wide Web ("Web") has become
increasingly popular and is one of the fastest growing uses of the
Internet, which is a collection of numerous individual networks.
Each network cooperates with other networks to direct Internet
traffic so that information can pass among them. The protocols used
on the Internet are the Transmission Control Protocol (TCP) and the
Internet Protocol (IP), which are frequently referred to as TCP/IP.
TCP breaks down and reassembles packets of information, whereas IP
ensures that the packets are sent to the right destination or
network.
[0005] The Web generally operates on a client/server model; that
is, a user (e.g., a client) runs a piece of software on his/her
personal computer to use the resources of a host (e.g., a server
computer). The host allows many different users to access its
resources at the same time and need not be dedicated to providing
resources to a single user. In this model, the client
software--e.g., a browser--runs on the user's computer, which
contacts a Web server and requests information or resources. The
Web server locates and then sends the information or resources to
the browser, which displays the results on the user's computer by
interpreting the received Hypertext Markup Language (HTML)
document.
[0006] The addressee reference information on the Web is known as
the Uniform Resource Locator (URL). A user's browser sends the URL
using the Hypertext Transfer Protocol (HTTP), which defines the way
the browser and the Web server communicate with each other. When
the server finds the requested document, it sends the document back
to the user's browser. The information is then presented to the
user via the user's computer. In effect, the user requests the
services of the host, which may involve searching for information
and sending it back to the user by querying a database on the Web,
delivering requested Web pages, or doing business on-line.
SUMMARY OF THE INVENTION
[0007] An embodiment of the invention relates to a method for
distributing data among users of the web site (including, e.g.,
automotive dealers, manufacturers, fleet lease companies), or
anyone who may have a use for such data. The method of the
invention comprises selecting the data from the dealers, processing
the data, and providing the processed data to the dealers while
maintaining confidentiality of individual data of each automotive
dealer. The selecting of the data may include collecting data
indicating, for example, which vehicles are in demand. The data for
vehicles may include a vehicle's make, a number of a vehicle's make
a dealer has in stock, a vehicle identification number, a vehicle's
year, a vehicle's model, a vehicle's body style, a vehicle's color,
a vehicle's mileage, a vehicle's retail asking price, a vehicle's
transactions cost, a vehicle's reconditioning cost, a vehicle's
age, a vehicle's selling price, a vehicle's gross profit, an
acquisition need of a vehicle, a selling need of a vehicle, a
vehicle's image, a vehicle's turnover rate, or an aggregate of any
of the above-listed data. The shared data of the invention may
enable dealers to improve return on investments (ROIs).
[0008] The invention may optionally create online trading
communities, provide real-time market information, as well as
access to a broader market of prospective buyers and sellers who
are in need of the vehicles. The invention may also allow dealers
to provide each other with any product for which they have a desire
for, and notify each other if the product becomes available. In
addition, an appraisal of the product may be provided on a web
site. The invention may earn revenue by charging member
participants fees for usage of its services (e.g., based on a flat
rate over a period of time or a per-vehicle rate), as well as
earning fees from lenders, insurance companies, transportation
companies, and the sales of market information to third
parties.
BRIEF DESCRIPTION OF THE DRAWINGS
[0009] The accompanying drawings, which are incorporated in and
constitute a part of this specification, illustrate exemplary
embodiments of the invention and, together with the description,
explain various aspects and principles of the invention. In the
drawings:
[0010] FIG. 1 is a diagram of a computer network representing an
exemplary web site;
[0011] FIG. 2 is a screenshot of a main menu including a "To Do
List" category of the main menu of an exemplary web site;
[0012] FIG. 3(a) is a screenshot listing vehicles for "Wholesale
Today", which is a link to a screenshot listing a dealership's
vehicles under the "Wholesale Center" category of the main menu of
the exemplary web site;
[0013] FIG. 3(b) is a screenshot showing "Wholesale Center Offers"
under the "Wholesale Center" category of the main menu of the
exemplary web site;
[0014] FIG. 3(c) is a screenshot showing how to "Make Your Offer"
under the "Wholesale Center" category of the main menu of the
exemplary web site;
[0015] FIG. 4 is a screenshot of "Retail Sales Trend", which is a
link from "Review Retail Purchase Needs" under the "To Do List"
category of the main menu of the exemplary web site;
[0016] FIG. 5 is a screenshot of "Vehicles Near[ing] Wholesale
Center Move Date (3 Days)", which is a link from "Retail Today"
under the "To Do List" category of the main menu of the exemplary
web site;
[0017] FIG. 6 is a screenshot showing "Vehicles to Watch" under the
"To Do List" category of the main menu of the exemplary web
site;
[0018] FIG. 7 is a screenshot showing review wholesale "Purchase
Offers" under the "To Do List" category of the main menu of the
exemplary web site;
[0019] FIG. 8 is a screenshot listing vehicles that are
"Consider[ed] for Wholesale Center" under the "To Do List" category
of the main menu of the exemplary web site;
[0020] FIG. 9 is a screenshot listing "Wholesale Vehicles Needing
Description", which is a link from "Add Wholesale Description"
under the "To Do List" category of the main menu of the exemplary
web site;
[0021] FIG. 10 is a screenshot of the "Action Plan" under the "To
Do List" category of the main menu of the exemplary web site;
[0022] FIG. 11 is a screenshot showing "Activity Summary for
Baltimore-Washington Vehicles", which is a link from "Review
Activity Summary" under the "To Do List" category of the main menu
of the exemplary web site;
[0023] FIG. 12 is a screenshot of a "Retail Inventory Value Report"
under the "Daily Reports" category of the main menu of the
exemplary web site;
[0024] FIG. 13 is a screenshot of a "Market Performance by Make and
Model" report under the "Daily Reports" category of the main menu
of the exemplary web site;
[0025] FIG. 14 is a screenshot of an "Available Inventory Report"
under the "Daily Reports" category of the main menu of the
exemplary web site;
[0026] FIG. 15 is a screenshot of a "Top Performing Vehicles"
report under the "Daily Reports" category of the main menu of the
exemplary web site;
[0027] FIG. 16(a) is a screenshot of an "Appraisal Activity"
category of the main menu of the exemplary web site;
[0028] FIG. 16(b) is a screenshot showing how to place a vehicle to
be appraised under the "Appraisal Activity" category of the main
menu of the exemplary web site;
[0029] FIG. 16(c) is a screenshot showing a vehicle placed under an
Appraisal Activity list of the exemplary web site;
[0030] FIG. 17(a) is a screenshot of a "Buy List" category of the
main menu of the exemplary web site; and
[0031] FIG. 17(b) is a screenshot showing how to "Add [Vehicles] to
[the] Buy List" under the "Buy List" category of the main menu of
the exemplary web site.
DETAILED DESCRIPTION OF THE INVENTION
[0032] The invention is directed to apparatuses, systems and
methods for distributing data among dealers. As an example, in the
automobile market, one of the most important factors in
profitability is the efficiency with which vehicles are bought and
sold. As vehicles for sale remain in inventories, the profit margin
on every vehicle is reduced by cost incurred from depreciation,
interest, repairs, and floor planning.
[0033] The following description refers to the accompanying
drawings, which illustrate exemplary embodiments of the invention.
Other embodiments are possible and modifications may be made to the
exemplary embodiments without departing from the spirit and scope
of the invention. Therefore, the following description is not meant
to limit the invention. Rather, the scope of the invention is
defined by the appended claims.
[0034] FIG. 1 is a diagram illustrating one exemplary computer
network on which an apparatus, system, and method for distributing
data among dealers can be implemented. For example, in the used
vehicles business, sharing vehicle data with other dealers provides
each dealer the ability to identify which dealers in a region have
an immediate need for vehicles that they want to sell right away.
For auto dealers, the ability to find and purchase the most
desirable and available used vehicles as well as locate prospective
retail customers in their region for specific vehicles give them a
competitive financial advantage.
[0035] As shown in FIG. 1, a computer network 100 representing an
exemplary web site may include a first router 110, a load balancing
device 120, front-end Web servers 140a and 140b, a second router
150, clustered back-end servers 160a and 160b, an external data
storage device 170, a Wireless Protocol (WAP) server 180,
intelligence servers 190a and 190b, and a voice recognition server
195. The first router 110 allows communication between the web site
and a publicly accessible network such as the Internet 130.
[0036] The first router 110 is coupled to the load balancing device
120, which is coupled to the front-end Web servers 140a and 140b
(which mirror each other for fail-over routing), and the WAP server
180. The load balancing device 120 operates to balance data load
and to direct data to the front-end Web servers 140a and/or 140b.
The front-end Web servers 140a and 140b operate to provide a user
with requested information, and the WAP server 180 provides
wireless capabilities to users as further described below. The
front-end Web servers 140a and 140b and the WAP server 180 are
coupled to the second router 150. The second router 150 operates to
connect the front-end Web servers 140a and 140b and the WAP server
180 to the clustered back-end servers 160a and 160b and to the
intelligence servers 190a and 190b. The clustered back-end servers
160a and 160b operate to process requests for data that is
transactional in nature, while the intelligence servers 190a and
190b operate to process requests for data that is non-transactional
or historical in nature. Of course, servers 160a and 160b could
also process requests for data that is non-transactional or
historical in nature eliminating the need for servers 190a and
190b. The clustered back-end servers 160a and 160b are coupled to
the external data storage device 170, which stores users' data or
information to be processed. An example of the first and second
routers 110 and 150 are CISCO.RTM. routers.
[0037] The computer network 100 may provide for Web usage, WAP
usage, voice recognition usage, pushing data, and other foreseeable
functions as further discussed below. When a user enters the web
site, the session (e.g., general site navigation, page-to-page,
etc.) resides in the front-end Web servers 140a and/or 140b. If a
user makes a request for data that is transactional in nature, then
the data is collected from the external data storage device 170 and
is processed through the clustered back-end servers 160a and/or
160b. The processed data is then returned to the user at the
front-end Web servers 140a and/or 140b. If, however, the user makes
a request for data that is non-transactional or historical in
nature, then the data is processed via the intelligence servers
190a and/or 190b. The intelligence servers 190a and/or 190b grab
data from the external data storage device 170 through the
clustered back-end servers 160a and/or 160b and process the
request. The intelligence servers 190a and/or 190b then send the
processed request results (non-transactional or historical data) to
the user at the front-end Web servers 140a and/or 140b.
[0038] When a user accesses the system through a WAP device, the
data is transferred through the Internet 130 and the first router
110 to the WAP server 180. The session resides on the WAP server
180. Requested data is collected from the external data storage
device 170 and is processed through the clustered back-end servers
160a and/or 160b. The processed data is then returned to the user
through the WAP server 180.
[0039] Similarly, when a user accesses the system through telephone
network 197, the session would reside on the voice recognition
server 195. When the user requests data via the telephone network
197, the data is collected from the external data storage device
170 and is processed through the clustered back-end servers 160a
and/or 160b. The processed data is then returned to the user
through voice recognition server 195.
[0040] With WAP or telephone access, a user is able to perform many
of the functions described below relative to access over the
Internet. Such functions include locating vehicles; adding,
modifying or deleting vehicles to/in/from the inventory; or
monitoring recent transactions (e.g., last 24 hours).
[0041] As to pushing data, any information that is pushed from the
computer network 100, e.g., alerts via fax or email, is processed
on the front-end Web servers 140a and/or 140b. Front-end Web
servers 140a and/or 140b grab data from the external data storage
device 170 through the clustered back-end servers 160a and/or 160b,
process the grabbed data, and then send (push) the processed data
out of the web site via the same Internet channels on which the
user entered, or through a telephone network as a fax.
[0042] The users' data stored in the external data storage device
170 may be shared among users while maintaining the confidentiality
of each individual user's data. Also, dealers managing systems
(DMS) of competitive dealers can be networked while maintaining
confidentiality of individual data of each dealer. The web site
aggregates data from the DMS's within its own system and provides
the aggregate data in various market reports or other views to
members. A process of obtaining this data is to dial-in to each
member dealer's DMS a predetermined number of times a week (e.g.,
six times a week) to get the most up-to-date information. This can
be carried out by the web site owner or contracted out to a third
party. For example, the third party can extract data from various
fields within dealer systems to provide the web site with specific
information required for its product. Next, the third party can
process the data to eliminate duplicate data, check for new versus
old data, and combine the data into a standard file format. The
standardized file is uploaded in the web site databases (back-end
servers) where the data is aggregated in various market reports and
becomes available to the web site's customers.
[0043] The aggregate data may be used by dealers to benchmark the
dealers' market situations, to streamline their vehicles among the
dealers' dealerships, and to better understand the dealers'
marketplace. The aggregate data includes aggregates of at least one
of each dealer's sales history and inventory, other dealers'
inventories, a list of vehicles a dealer needs to sell, data
relating to how certain dealers do with specific vehicles, book
values of vehicles, description of vehicles, and offers on vehicles
from other dealers.
[0044] Other organizations that would also benefit from the
aggregate data or access to this group of dealers include credit
unions, banks, leasing companies, auto auctions, automotive
aftermarket suppliers, automotive insurance carriers, lenders who
offer indirect lending programs to dealers, direct mail companies,
and transportation and towing companies. For example, this feature
allows dealers to use the aggregate data to determine which bank is
most profitable to finance a vehicle. The aggregate data can also
be put up for bid to dealers that do not participate in the DMS
network.
[0045] The requests by dealers may require determination of a Smart
Score, which is a method of ranking prospective buyers to determine
those with the greatest probability of making an offer on a
vehicle. The method of determining Smart Score is further described
below. If the requests do not require determination of a Smart
Score, then router 150 routes data such as dealer data to the
external data storage device 170 via back-end servers 160a and 160b
for storage. Back-end servers 160a and 160b operate as a database
interface to the external data storage device 170.
[0046] FIG. 2 is a screenshot 200 of a main menu 202 of an
exemplary web site providing dealers with an ability to view, for
example, their daily "To Do List" 204. The main menu 202 includes
the following categories: To Do List 204; Daily Reports 206; Dealer
Inventory 208; Appraisal Activity 210; Retail Showroom 212;
Wholesale Center 214; and a Buy List 216. A dealer elects a
category by clicking on one of the categories and control then
proceeds to carry out the selected category as illustrated and
described in screenshots shown in FIGS. 2-17.
[0047] Each screenshot or page of the web site provides a dealer
with information, and some screenshots may link to other
screenshots which can be accessed by clicking on the desired
buttons.
[0048] Screenshot 200 includes the To Do List 204 category of the
main menu 202. The To Do List 204 provides an instant view of the
dealership status and subsequent steps the dealership can take to
attain higher productivity. The To Do List 204 may include a number
of Total Vehicles in Stock 220, a Recommendation 230 to the
dealership in order for the dealership to attain its goals, a
Summary 240 of the dealership status, and a Day Supply 260 of the
dealership. The number of Total Vehicles in Stock 220 includes a
number of Wholesale 222 vehicles in stock, a number of Retail 224
vehicles in stock, and a Total 226 number of vehicles in stock,
which is the sum of the numbers of Wholesale 222 and Retail 224
vehicles. The Recommendation 230 is a number of vehicles 232 the
web site recommends the dealer to increase or decrease its retail
inventory by. This number of vehicles 232 is based on a
dealer-specific Target Day Supply 264 (the dealer-determined number
of days that it should take to sell the entire inventory given its
historical sales data). In particular, the system recommends the
dealer to buy or sell its retail inventory by the number of
vehicles 232 in order to meet its predetermined target retail
inventory which matches the Target Day Supply 264. The number of
vehicles 232 is determined by subtracting the number of Retail 224
vehicles from the predetermined target retail inventory to achieve
the Target Day Supply 264.
[0049] The Summary 240 includes the following categories: a number
of vehicles in Wholesale Today 242; a number of vehicles needing
Review (for) Retail Purchase Needs 244, which links to Retail Sales
Trend; a number of vehicles nearing Wholesale Center move date
(Retail Today) 246; a number of Vehicles to Watch 248; a number of
Wholesale Purchase Offers 250 needing review; a number of vehicles
that should be Consider(ed) for Wholesale Center 252; a number of
wholesale vehicles needing additional information (Add Wholesale
Description) 254; an Action Plan 256; and a Review Activity Summary
258.
[0050] The number of vehicles in Wholesale Today 242 is the same as
the number of Wholesale vehicles 222. Clicking on the Wholesale
Today 242 category links a dealership to FIG. 3(a), which is a
screenshot 300 of a listing of vehicles in the Wholesale Center
214. Vehicles in the Wholesale Center 214 are available for
wholesale purchase. The Wholesale Center 214 listing includes each
vehicle's Year 302, Make 304, Model 306, Stock number 308, Mileage
310, Color 312, Number of Bids 314, and Buyers 316. Clicking on the
Buyers 316 provides the dealer with a list of potential buyers and
their Smart Scores. The Smart Score is further described below. The
Wholesale Center list can be sorted by year, make, model, stock
number, mileage, and color by clicking on the corresponding Sort
buttons 318.
[0051] Moreover, clicking on the Total Number of Bids 314 on a
vehicle 352 with at least one bid links a dealership to FIG. 3(b),
which is a screenshot of Wholesale Center Offers 350 for the
vehicle 352. The Wholesale Center Offers 350 lists the VIN 354,
Year 356, Make 358, Model 360, Mileage 362, and Color 364 of the
vehicle 352. In addition, Wholesale Center Offers 350 lists the
offers for vehicle 352 including High Offer Amount(s) 366, Site
Area(s) 368, Offer Date(s) 370 (and time), and Dealer Name(s) 372.
Clicking on a value amount 374 under the High Offer Amount(s) 366
provides information on the dealership that made the offer, and
clicking "Sell Now?" 376 under High Offer Amount(s) 366 to sell the
vehicle under the elected bid. The dealer making the bid never sees
bids from other dealers, so the dealership as the seller can select
to whom the dealership wants to sell the vehicle. Thus, the
dealership can maintain its wholesale relationships while ensuring
that it always gets fair market value for every vehicle. Thus,
dealers have the ability to offer vehicle inventory for wholesale
much earlier in their inventory cycle (when the vehicle is, e.g.,
15-30 days old, instead of the typical 60 days), while still
continuing to offer the vehicle for retail sale. This allows
dealers to analyze the wholesale value of all used vehicle
inventories on a daily basis (wholesaling and retailing vehicles
are not mutually exclusive). Accordingly, dealers will have the
ability to sell their used vehicle inventory before they suffer
large wholesale losses resulting from depreciation. Dealers can
also view other regional dealer vehicles up for auction or bidding
by clicking on Market Vehicles 320 on screenshot 300 (FIG.
3(a)).
[0052] Dealers can also make offers on the Wholesale Center
vehicles as shown in FIG. 3(c). A dealer can enter a Minimum offer
375 and a Maximum offer 380 or just a Maximum offer 380. A dealer
can also enter comments in box 385 and click on Submit button 390
to submit the offer. If a dealer enters both a Minimum offer and a
Maximum offer 380, then the offer will be displayed to the seller
as the dealer's minimum offer or a predetermined amount of dollars
(e.g., $50) more than a competing offer up to the maximum offer.
The seller will notify the bidding dealer if the offer is
accepted.
[0053] The number of vehicles needing to be considered under Review
Retail Purchase Needs 244 in the To Do List 204 is the same as the
number of vehicles 232 recommended to be bought or sold in order
for a dealer to meet its target retail inventory. Clicking on
Review Retail Purchase Needs 244 links a dealership to FIG. 4,
which is a screenshot 400 listing Retail Sales Trends of vehicles,
which include, for example, a vehicle's Make 402, Model 404,
quantity of vehicles sold over a predetermined number of days
and/or months (Quantity Sold) 406, and current number of vehicles
in stock (Current Stock) 408. The Retail Sales Trends review the
dealership's volume dealers over multiple time periods and compare
to the current retail inventory.
[0054] Clicking on Retail Today 246 under the To Do List 204 links
a dealer to FIG. 5, which is a screenshot 500 indicating Vehicles
Near(ing) Wholesale Center Move Date 502 as defined by each dealer
(e.g., three days). Screenshot 500 provides a warning message that
the vehicles under this list are nearing the Wholesale Center move
date, and will automatically be moved to the Wholesale Center
within a predetermined period as defined by each dealer. The
screenshot further provides a Stock number 504, Year 506, Make 508,
Model 510, Mileage 512, Age 514, a query to edit Description 516,
and a query to move to Wholesale Center 518 for each vehicle. A
user may also sort the vehicles in screenshot 500 by Stock number,
Year, Make, Model, and Age by clicking on corresponding Sort
buttons 520. To edit the description of a vehicle, a dealer can
click on Edit button 516 for that vehicle. Similarly, to confirm a
move of a vehicle to Wholesale Center, a dealer can click on Move
button 518 for that vehicle.
[0055] Clicking on the Vehicles to Watch 248 under the To Do List
204 links a dealership to FIG. 6, which is a screenshot 600 listing
vehicles that do not meet the dealership's administered settings,
for example, vehicles that are nearing a predetermined Wholesale
Center move date based on the vehicles' current days in stock 602,
vehicles with no history available 604, vehicles having a below
minimum ROI 606 (the calculation of ROI is discussed below),
vehicles needing description 608, and/or vehicles that are overaged
610. In other words, this screenshot provides a Warning message 612
that these vehicles will be moved to the Wholesale Center 214
within a predetermined number of days. In addition, screenshot 600
provides the vehicles to watch Stock Number 614, Year 616, Make
618, Model 620, Average Days in Stock 622, Average Gross Profit
624, and Average ROI 626.
[0056] Clicking on the Review Wholesale Purchase Offers 250 under
the To Do List 204 links a dealership to FIG. 7, which is a
screenshot 700 listing Purchase Offers 702 made for vehicles within
a date and time range 704 to be reviewed. Screenshot 700 further
provides for each particular vehicle, the Year 706, Make 708, Model
710, Stock number 712, and Details 714. Moreover, screenshot 700
lists for each vehicle 716: Site(s) of the offers 718; amounts of
the Offer(s) 720; Date(s) and time of the offers 722; and Dealer(s)
that made the offers 724. A selling dealer can get more detailed
information regarding each vehicle by clicking on details 714.
Similarly, a selling dealer can get more detailed information on
the dealership making the offer by clicking on that dealership,
e.g., Farrish Daewoo-Suzuki 726 in screenshot 700.
[0057] Clicking on the Consider for Wholesale Center 252 under the
To Do List 204 links a dealership to FIG. 8, which is a screenshot
800 listing vehicles that the dealership should consider moving to
the Wholesale Center 214 because the vehicles fall under at least
one of the following exemplary categories: the vehicle's make and
model historic average ROI does not meet the dealership's minimum
ROI; the vehicle's mileage exceeds the dealership's set maximum
mileage; the dealership has no history available for this vehicle's
make and model; the vehicle is considered surplus retail inventory
(overstock); or the vehicle is within a set days of the default
Wholesale Center move age, e.g., three days. In particular, this
feature of the system determines whether a vehicle meets its
dealer's predefined goals; flags vehicles that do not meet their
dealers' predefined goals; and places a Smart Score ranking of
potential buying dealers for each of the flagged vehicles.
[0058] The Smart Score is described below and is based on a scoring
model that a dealer or a potential buyer can update anytime and the
scores that make up the Smart Score can be weighed and changed by a
dealer or a potential buyer. It should be noted, however, that a
selling dealer sets the scores that make up the Smart Score for a
buying dealer. Screenshot 800 provides for each vehicle considered
for Wholesale Center a vehicle's Stock number 802, a vehicle's Year
804, a vehicle's Make 806, a vehicle's Model 808, a vehicle's
Mileage 810, Current Days of vehicle In Stock 812, a predetermined
period Average Gross Profit 814 of a vehicle, a predetermined
average ROI Percentage 816 of a vehicle, a Warning 818 of why a
vehicle should be considered for Wholesale Center 214, and a query
whether to move the vehicle to the Wholesale Center 820.
[0059] Clicking on the number of vehicles under Add Wholesale
Description 254 under the To Do List 204 links a dealership to FIG.
9, which is a screenshot 900 listing vehicles in the Wholesale
Center that do not have a text or voice description. The dealership
can add text description of these vehicles by clicking on add
button 902 on the screen. Screenshot 900 further provides for each
vehicle needing a description a Stock number 904, Year 906, Make
908, Model 910, Mileage 912, and Text 914. The dealership may also
add voice description of the vehicles through the telephone network
197 and voice recognition server 195.
[0060] Clicking on the Action Plan 256 under the To Do List 204
links a dealership to FIG. 10, which is a screenshot 1000 providing
the dealership with warnings of vehicles in retail inventory.
Screenshot 1000 provides each vehicle's Stock Number 1002; Year
1004; Make 1006; Model 1008; Warning 1010 such as add description
to vehicles, vehicles are overaged, and/or vehicles are below
minimum ROI; Current Days in Stock 1012; and status of ROI 1014.
Based on the warnings of the vehicles in retail inventory, the
dealership can take appropriate action such as moving the vehicles
to the Wholesale Center as necessary.
[0061] Clicking on the (review) Activity Summary 258 (for a
predetermined community, e.g., Baltimore--Washington) under the To
Do List 204 links a dealership to FIG. 11, which is a screenshot
1100 providing a summary of a total number of dealer inventory of a
make 1102 of vehicles, a total number of offers 1104, and a total
number of recently added (new) vehicles 1106 and a total number of
recently deleted vehicles 1108. The total number of dealer
inventory of a make 1102 of vehicles includes a Retail Showroom
number of vehicles 1110, a Wholesale Center number of vehicles
1112, and an Appraisal Activity number of vehicles 1114. Similarly,
the total number of offers 1104 includes a Retail Showroom number
of offers 1116, a Wholesale Center number of offers 1118, and an
Appraisal Activity number of offers 1120. The total number of
recently added (new) vehicles 1106 and the total number of recently
deleted vehicles 1108 each includes a number of Retail Showroom new
vehicles 1122 and deleted vehicles 1124, a number of Wholesale
Center new vehicles 1126 and deleted vehicles 1128, and a number of
Appraisal Activity for the new vehicles 1130 and the deleted
vehicles 1132, respectively.
[0062] The Day Supply 260 under the To Do List 204 provides the
number of Current Day Supply 262 and the number of Target Day
Supply 264. The Current Day Supply 262 is the number of days it
would take to sell a dealership's inventory based on the
dealership's sales history and that dealership's current inventory.
For example, the Current Day Supply 262 can be calculated by
dividing the total retail inventory by the number of vehicles sold
over the last predetermined number of days and multiplying the
result by the predetermined number of days. The Target Day Supply
264 is a dealership-specific setting established by the dealership
as a goal for the number of days of inventory on hand. The system
helps dealers make their Current Day Supply 262 match their Target
Day Supply 264.
[0063] The ROI is defined based on each vehicle, i.e., how much a
dealership paid for a vehicle, the profit the dealership made from
selling the vehicle, and the number of days the vehicle spent in
inventory. In determining the ROT, the Actual Cost of Vehicle (ACV)
is calculated first, which is:
ACV=(Purchase Price of the vehicle+Reconditioning Cost)
[0064] or
ACV=(Selling Price-Gross Profit).
[0065] Next, the Gross Profit is downloaded directly from the DMS
or calculated as follows:
Gross Profit =(Selling Price of vehicle-ACV).
[0066] Finally, the ROI is calculated as follows:
ROI=(Gross Profit/ACV).times.(365/Days in Stock).
[0067] There are a couple of different ways that the ROT can be
utilized. One way that this number is used is to average the ROIs
for all the vehicles of each make/model/year/mileage range/price
range, or any combination thereof of a given dealer. The dealer's
average ROI by make and model, for example, is calculated as
follows:
Average . . . ROI=(Sum of ROIs of vehicles sold by dealer, make and
model over last predetermined period of time).div.(number of
vehicles sold by dealer, make and model over last predetermined
period of time)
[0068] or
Average ROI=(Avg(Gross Profit)/Avg(ACV)).times.(365/Avg(Days in
Stock)).
[0069] To extend the calculation of ROI to a market ROI, the dealer
is removed from the above equation.
[0070] The historical ROI may be based on at least one of a local
marketplace, a regional marketplace (e.g., a county, a metropolitan
area, a couple of states), or a national marketplace. The system
further allows the dealer to limit bids from any unwanted bidders.
Thus, the dealers have control over what dealers and wholesalers
they do business with.
[0071] Smart Score is a method of ranking prospective buyers by
multiplying weight and rank. Weights are values derived by applying
the evaluation criteria under the categories as follows: how often
a buyer bids on the web site; buyers with highest make and model
sold in last 90 days; buyers with highest ROIs on any combination
of make, model, year, price range, and/or mileage range; how often
a buyer buys vehicles of the same year, make, and/or model; how
often a dealer bids on a particular year, make, and/or model;
whether a buyer is a member of a same dealer group; and whether a
buyer has the year, make, and/or model on its Buy List. Ranks are
values a dealer may place on the categories above to add additional
biases beyond the web site weights assigned. Ranks may be updated
in the web site.
[0072] As to the category of how often a dealer bids on the web
site, each dealer is scored based on how many bids it made in the
last predetermined number of days. For example, all dealers with at
least five bids in the last 30 days are assigned a score of one for
every five bids, with a maximum score set to 10. An exemplary
weight calculation for this category is as follows:
1 Quantity of Bids Made Over Last 30 Days Weight 0-4 0 5-9 1 10-14
2 15-19 3 20-24 4 25-29 5 30-34 6 35-39 7 40-44 8 45-49 9 50+
10
[0073] As to the category of which buyer has the highest number of
make and model sold in the last predetermined number of day, each
dealer is scored on how many vehicles of the same make and model it
sold over the last, e.g., 90 days. The score is then assigned
according to the following exemplary ranges:
2 Quantity Sold Last 90 Days Weight <=3 0.0 * 10 * 5/3 >3 and
<=7 0.1 * 10 * 5/3 >7 and <=11 0.4 * 10 * 5/3 >11 and
<=15 0.6 * 10 * 5/3 >15 and <=19 0.8 * 10 * 5/3 >19 1.0
* 10 * 5/3
[0074] As to the category of which buyers have the highest ROIs on
any combination of make, model, year, price range, and/or mileage
range, each dealer is scored based on what its ROI for the make,
model, year, price range, and/or mileage range has been over the
past predetermined period (e.g., 6 months). The scoring is then
assigned according to the following exemplary ranges:
[0075] 1. For Make and Model:
3 ROI: Make/Model Weight <75% 0.0 * 10 * 5/3 >=75% and
<100% 0.1 * 10 * 5/3 >=100% and <125% 0.4 * 10 * 5/3
>=125% and <150% 0.6 * 10 * 5/3 >=150% and <175% 0.8 *
10 * 5/3 >=175% 1.0 * 10 * 5/3
[0076] 2. For Make, Model, and Year:
4 ROI: Make/Model/Year Weight <75% 0.0 * 10 * 5/3 >=75% and
<100% 0.1 * 10 * 5/3 >=100% and <125% 0.4 * 10 * 5/3
>=125% and <150% 0.6 * 10 * 5/3 >=150% and <175% 0.8 *
10 * 5/3 >=175% .0 * 10 * 5/3
[0077] 3. For Make, Model, and Price Range:
5 ROI: Make/Model/Price Range Weight <75% 0.0 * 10 * 5/3
>=75% and <100% 0.1 * 10 * 5/3 >=100% and <125% 0.4 *
10 * 5/3 >=125% and <150% 0.6 * 10 * 5/3 >=150% and
<175% 0.8 * 10 * 5/3 >=175% 1.0 * 10 * 5/3
[0078] 4. For Make, Model, and Mileage Range:
6 ROI: Make/Model/Mileage Range Weight <75% 0.0 * 10 * 5/3
>=75% and <100% 0.1 * 10 * 5/3 >=100% and <125% 0.4 *
10 * 5/3 >=125% and <150% 0.6 * 10 * 5/3 >=150% and
<175% 0.8 * 10 * 5/3 >=175% 1.0 * 10 * 5/3
[0079] As to how often a buyer buys the same year, make, and/or
mode, each dealer is scored based on how many and what combinations
of the same year, make and model it has purchased over the last
predetermined of days (e.g., 90 days). The scoring is assigned
according to the following exemplary criteria and combinations:
7 Purchased Over Attribute Combination Last 90 Days Weight Year and
Make and Model >=6 1.0 * 10 Year and Make >=6 0.7 * 10 Make
and Model >=6 0.7 * 10
[0080] As to how often a buyer bids on a particular year, make,
and/or model, each dealer is scored based on how many and what
combinations of the same year, make and model it has bid on over
the past predetermined number of days (e.g., 90 days). The scoring
is assigned according to the following exemplary criteria and
combinations:
8 Bids Over Last 90 Attribute Combination Days Weight Year and Make
and Model >=6 1.0 * 10 Year and Make >=6 0.7 * 10 Make and
Model >=6 0.7 * 10
[0081] As to being a member of a same dealer group, each dealer is
scored based on its membership to any group that the vehicle's
dealer belongs to. An exemplary scoring of this category is as
follows:
9 Common Dealer Group Weight Yes, Buyer is a member of Seller's
group 10 No, Buyer is not a member of Seller's group 0
[0082] As to whether a buyer has the year, make, and/or model on
its Buy List, a dealer is scored based on whether a vehicle the
dealer is searching for matches an entry in its Buy List, scoring
different values based on how close the match is. The scoring is
assigned, for example, according to the following combinations:
10 Attribute Combination Weight Year and Make and Model 1.0 * 10
Year and Make 0.7 * 10 Make and Model 0.7 * 10
[0083] The Smart Score for each prospective buyer is the sum of the
scores of any combination of the above categories based on: how
often a buyer bids on the web site (quantity of bids made over the
last predetermined number of days); how many vehicles of the same
make and model a buyer (dealer) sold over the past predetermined
period of time; buyers with the highest ROIs based on any
combination of make, model, year, price range, and/or mileage range
over the past predetermined period of time; how often a buyer buys
vehicles of the same year, make, and/or model; how often a buyer
(dealer) bids on a particular year, make, and/or model; whether a
buyer is a member of a same dealer group; and whether a buyer has
the year, make, and/or model on its Buy List.
[0084] The Daily Reports 206 of the main menu 202 is described
next. The Daily Reports 206 include a Retail Inventory Value Report
1200 as shown in FIG. 12, the Action Plan report 1000 as shown in
FIG. 10, a Market Performance by Make and Model report 1300 as
shown in FIG. 13, a Dealership Performance by Make and Model report
that is similar to the Market Performance by Make and Model report
1300 but shows dealership performance (not shown), an Available
Inventory report 1400 as shown in FIG. 14, the Retail Sales Trends
report 400 as shown in FIG. 4, the Vehicles to Watch report 600 as
shown in FIG. 6, and a Top Performing Vehicles report 1500 as shown
in FIG. 15. The Retail Inventory Value Report 1200 provides a list
of all the vehicles in a dealership's retail inventory.
Specifically, the Retail Inventory Value Report 1200 provides the
vehicles' Stock Number 1202, Year 1204, Make 1206, Model 1208,
Mileage 1210, Retail Price 1212, Vehicle ACV 1214, average Black
Book Value 1216, National Automobile Dealers Association (NADA)
trade value 1218, and Current Days in Stock 1220. The Action Plan
report 1000 is described above with regard to the Action Plan 256
under the To Do List 204.
[0085] The Market Performance by Make and Model report 1300 shows
the make 1302 and model 1304 of a vehicle, and provides information
regarding the number of vehicles sold of the make 1302 and model
1304 over the last predetermined period of time 1312 (e.g., months
and/or days), the current number of the vehicles in stock 1314, an
average gross profit over a period of time 1316 (e.g. six months),
an average days to retail over a period of time 1318 (e.g., six
months), and an average ROI over a period of time 1320 (e.g., six
months). The information 1312, 1314, 1316, 1318, and 1320 are
provided for each of the categories of price range 1306, mileage
1308, and year 1310. Moreover, each of the price range 1306,
mileage 1308, year 1310, and the information 1312, 1314, 1316,
1318, and 1320 can be sorted by clicking on the corresponding sort
buttons 1322.
[0086] The Dealership Performance by Make and Model report (not
shown) provides similar information to the Market Performance by
Make and Model report 1300 except at a dealership level rather than
the market level.
[0087] The Available Inventory Report 1400 is a list of Wholesale
Center or Appraisal Activity vehicles that match the dealership's
Buy List as described below with FIG. 17, or vehicles that have an
historic ROI higher than the minimum dealer ROI as well as a
mileage under the dealer's maximum mileage setting. The Available
Inventory Report 1400 includes the vehicles' Year 1402, Make 1404,
Model 1406, Mileage 1408, Color 1410, Area 1412, Dealership Name
1414, Dealership Contact Name (e.g., salesperson) 1416, and
Dealership Contact Number (e.g., telephone number) 1418. Each of
the information 1402, 1404, 1406, 1408, 1410, 1412, 1414, 1416 and
1418 of the Available Inventory Report 1400 can be sorted by
clicking on the corresponding sort buttons 1420. Moreover, a
dealership can also print the Available Inventory Report 1400 by
clicking on the "Printer friendly version of this page" 1422.
[0088] The Top Performing Vehicles report 1500 provides a list of
top performing retail vehicles by dealership 1502 and a list of top
performing retail vehicles by market 1520. Each of the top
performing retail vehicles by dealership 1502 and top performing
retail vehicles by market 1520 provides the vehicles' Year(s) 1504
and 1522, Make(s) 1506 and 1524, Model(s) 1508 and 1526, Volume(s)
Sold 1510 and 1528, Average Gross Profit(s) 1512 and 1530, Average
Days to Retail 1514 and 1532, and Average ROI(s) 1516 and 1534,
respectively. The Top Performing Retail Vehicles by Dealership
further provides a Click button 1518 to sort the Dealer Top
Performance Report. Similarly, the Top Performing Retail Vehicles
by Market provides a Click button 1536 to sort the Market Top
Performance Report.
[0089] The Retail Sales Trends report, the Vehicles to Watch
report, and the Action Plan report are described above and shown in
FIGS. 4, 6, and 10, respectively.
[0090] The Daily Reports 206, either alone or in combination,
provide the dealers with important information to optimize their
business. That is, the Daily Reports 206 provide the dealers with
various reports and comparisons that are based on at least one of a
local marketplace, a regional marketplace, a national marketplace,
a like-size dealership (e.g., comparisons of similar-sized
dealers), and a like-make dealership (e.g., comparisons of dealers
selling similar or same make vehicles). For example, the Inventory
Value Report 1200 and the Action Plan report 1000 provide the
dealers with information to evaluate and manage their inventories,
develop strategies to limit depreciation and retain maximum resale
value, and determine which vehicles need to be sold most urgently.
Another example is the Retail Price 1212, Vehicle ACV 1214, Black
Book value 1216, and NADA value 1218 together provide a dealership
with real time market value of a used vehicle versus the book value
of the vehicle. The market value provides the dealership with a
value a buyer is willing to purchase that vehicle for versus a book
value that lets the dealer know what the average price buyers have
been paying in the past predetermined number of days for a similar
type vehicle. That is, a dealer can instantly see its cash value of
every used vehicle in inventory.
[0091] FIG. 16(a) illustrates an Appraisal Activity screenshot 1600
of the Appraisal Activity category 210 under the main menu 200. The
Appraisal Activity screenshot 1600 displays vehicles that dealers
need to value quickly, for example, vehicles that a dealership may
need to take in trade to finalize a deal. The list of vehicles
includes each vehicle's Year 1606, Make 1608, Model 1610, Mileage
1612, Condition 1614, number of Bids 1616, and whether the vehicle
has been removed or Deleted 1618. A dealership can view the list of
vehicles submitted by it (Dealership Vehicles 1620) or vehicles
submitted by all dealerships by clicking on Market Vehicles 1622.
Appraisal Activity allows the dealership to have all of its
trade-ins or in stock inventory instantly appraised by hundreds of
dealers and wholesalers in a region by clicking on an "Appraise a
Car" button 1602, which provides a link to screenshot 1650 as shown
in FIG. 16(b) to be filled out in order to post a vehicle for view
by other dealers. Screenshot 1650 allows the dealership to enter
all relevant information of the vehicle (e.g., VIN 1652, Exterior
Color 1654, Mileage 1656, Condition 1658, etc.) and to click on
Appraise a Car button 1660 in FIG. 16(b) to enter the vehicle to be
appraised as shown in FIG. 16(c). This allows the dealership to
quickly gauge interest in a particular vehicle before accepting it
as a trade-in. That is, the appraisal list allows a dealer to
determine the value of each vehicle based on how much other dealers
are willing to bid for it. All bids are instantly sent to the
selling dealership and a bidding dealership is notified if the
selling dealership accepts the bid or offer from the bidding
dealership.
[0092] Dealers can also obtain historical data on recent trade-in
values for a particular vehicle in their market via book values and
aggregate market performance, which minimizes the price risk of
selling used vehicles. Many dealers do not have accurate market
values for their vehicles and suffer large wholesale losses by
overvaluing used vehicle trade-ins, and miss retail sales
opportunities by undervaluing used vehicle retail prices. With the
appraisal and get book values features, the undervaluing price risk
problem is minimized.
[0093] A dealership can also get book values on a vehicle by
pressing the "Get Book Value" 1604, which provides the dealership
with appraisals from, e.g., NADA and the Black Book. The dealership
can see various body type/options combinations available for the
vehicle by following the prompts on subsequent pages. For example,
the dealership can receive a Vehicle Appraisal Report adjusted for
vehicle options (not shown since body types and options
combinations are information owned by third parties and licensed to
the web site).
[0094] FIG. 17(a) is a Buy List screenshot 1700 of the Buy List
category 216 under the main menu 200 of the exemplary web site. The
Buy List is a list of vehicles that a dealership wants to buy. The
Buy List 1700 provides a list of vehicles by their Make 1702, Model
1704, Year From 1706 a make of a vehicle, Year To 1708 a make of a
vehicle, Miles From 1710 (minimum mileage of a vehicle), Miles To
1712 (maximum mileage of a vehicle), Notes 1714 on a vehicle,
number of Hits 1716 on a vehicle, and Alert 1718. A dealership can
add vehicles to the Buy List 1700 by clicking on Add Vehicle to Buy
List 1720.
[0095] FIG. 17(b) shows a screenshot 1750 that is a link from Add
Vehicle to Buy List 1720. Screenshot 1750 allows a dealership to
add a vehicle to Buy List screenshot 1700 by querying the
dealership to select a Make 1752 of the vehicle, Miles From 1754
(minimum mileage of a vehicle), Miles To 1756 (maximum mileage of a
vehicle), Year From 1758 make of the vehicle, Year To 1760 make of
the vehicle, Model 1762 of the vehicle, and Add to Buy List button
1764. Alert 1718 provides an alert to a dealership when any other
dealer in the dealership's region adds to the web site a match
either into their inventory or Appraisal Activity that the
dealership has not reviewed. The number of Hits 1716 indicates the
total number of matching vehicles in the web site's database,
including the dealership's vehicles. Moreover, the web site
provides the dealership with information such as the other dealers'
needs and their locations, etc., in order for the dealership to
complete its transaction. The web site can also have the
dealership's Buy List linked to a WAP device so the dealership will
always know when a vehicle it needs is available.
[0096] Specifically, a potential buyer of a used vehicle is alerted
using at least a fax device, a desktop computing device, a portable
message device, a portable voice device, a telephone, a pager, or
the WAP device while maintaining confidentiality of individual data
of each dealer. This wireless capability allows dealers and
re-marketers to communicate and transact with their
business-to-business partners. The dealers and re-marketers can
conduct all their daily operations wirelessly, thus achieving
tremendous cost and time savings. Dealers will have access to
real-time vehicle information anywhere and anytime. The wireless
extension provides dealers access to core functionalities of the
web site using the WAP enable device. Currently, WAP is available
for cellular phones, but it is foreseeable that the wireless
extension will also work for any wireless device such as Palm
Pilots, Pocket PCs, etc. The feasibility of wireless development
exists with the web site due to the scaleable nature in which the
site is developed. That is, each dealership is provided with a
UserID and password, which it can use for both the desktop web site
and wireless device. For example, a dealership can view a vehicle,
offer details, and make and confirm vehicle offers via the desktop
web site or a WAP device. In addition, each dealership can use the
UserID provided to go online and get or provide additional data on
the vehicles.
[0097] Dealers and re-marketers can also conduct many of their
daily operations wirelessly. Dealers may have access to real-time
vehicle information anywhere and anytime. The wireless extension
provides dealers access to core functionalities of the web site
using a WAP enable device.
[0098] While this invention has been described in conjunction with
the specific exemplary embodiments outlined above, it is evident
that many alternatives, modifications and variations will be
apparent to those skilled in the art. Accordingly, the exemplary
embodiments of the invention, as set forth above, are intended to
be illustrative, not limiting. Various changes may be made without
departing from the spirit and scope of the invention.
[0099] It will be apparent to one of ordinary skill in the art that
the embodiments as described above may be implemented in many
different embodiments of software, firmware and hardware in the
entities illustrated in the figures. The actual software code or
specialized control hardware used to implement the present
invention is not limiting of the present invention. Thus, the
operation and behavior of the embodiments were described without
specific reference to the specific software code or specialized
hardware components, it being understood that a person of ordinary
skill in the art would be able to design software and control
hardware to implement the embodiments based on the description
herein.
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