Are you maximizing the benefits of the Similar Parts (SP) feature in Lightspeed DMS (used to be Lightspeed EVO)? I tend to find that a small number of dealers make use of the SP functionality, but not always in the way this feature was designed to be utilized. For the dealers who are using the Lightspeed Buying Guide, understanding how to correctly configure similar parts can help to streamline the entire process of ordering parts.
Similar Parts have 3 options to select from. If you are only using them to generate awareness in the invoicing screen, then it doesn’t matter which option you use. However, if you are using the buying guide, then the options you choose are extremely important.
- You can only utilize Base/Similar or Reference parts – you can’t intermix them
- Base/Similar
- The Base part number becomes the anchor part which every other part points to
- The Similar parts are linked to Base parts
- Reference
- With reference parts, the intention is that all the parts in the chain are interchangeable
- Base/Similar
A good example of when to use Base/Similar settings would be with spark plugs. Over the years, you might have ordered the same plug from 3 different manufacturers, but today your preferred vendor is Western Power Sports. In this case, the WPS part # would be your base part number, and all of the same plug from other vendors would be set up as similar parts.
Reference parts work best when you have a two parts or accessories that could be used in place of each other. If you had a regular battery and a heavy-duty battery that could be used interchangeably, then they could be set up as reference parts. Or, you might have a situation where an aftermarket drive shaft is half the price of the OEM one and your dealership likes to give the customer options, so you stock both. These should be linked as reference parts.
At our dealership we’ve created reference parts chains for all of the common tire sizes that we stock and sell. As an example, we’ve created a dummy part # 120/70-17 . Every new tire we add to the system in this size is linked together. When a customer comes to the counter, anyone can type in that part #, and instantly see all of the other tires in this size that we stock. This is a better method than having to search descriptions, as there are many times where they don’t come across from the price book with a clean and clear description.
Where Similar Parts linking really shines is when it comes to dealers who utilize the buying guide, but it’s important to understand how they function. If you haven’t used the buying guide, please read my how-to guide before moving on.
- When parts are set up as Base/Similar, when you run the buying guide Lightspeed will consolidate the sales history for every part in the chain, and using the time period that you are running the buying for, will tell you to order the correct quantity of the base part #. No matter how many sales you have of each of the parts set as Similar Parts, Lightspeed will only tell you to order the Base #.
- When your parts are set as Reference Parts, when you run the buying guide Lightspeed will calculate the quantity to order for every part in the chain based on each part’s unique sales history. If you had 10 parts in the chain, and 3 of them had good sales history but you had run your inventory down to 0 on each of those 3 parts, the guide will tell you to order all 3.
When correctly configured, Similar Parts can help dealers to minimize Obsolescence write-offs because they generate an awareness of all the inventory a dealer has in stock. The 2023 winches you have in stock might fit perfectly on a 2024 model, but the new accessory catalog only shows the 2024 part #. By linking inventory, you can make sure your parts team has visibility for all the items you have in stock. If a few parts always need to be sold as a set, link them as reference parts and add some notes to each part. Once someone selects one item, the others are easy to find.
And, if you aren’t using the Lightspeed Buying Guide, take the time to learn how it works. While it can be a little overwhelming when you first start using it, once your inventory has been cleaned up, the time you spend building orders will be dramatically reduced, and you’ll minimize the times you run out of fast moving parts.
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