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Your warehouse will become a database
The market for spare parts, or aftermarket parts, is absolutely massive. The potential revenue that can be generated from a vehicle doesn’t solely rely on its initial sales price. It’s also about the sales price of the parts that can be sold throughout the car’s lifespan. These parts can come directly from the original manufacturer, or from companies that have a license from the original manufacturer to produce and sell them.
In fact, the spare parts and aftermarket parts industry is a business in itself, and some enterprises thrive solely because of it. Often, basic parts are mass-produced in locations with low labor costs and shipped worldwide to be stored in warehouses, eagerly waiting for the moment when someone needs that specific part to repair something. Interestingly, these parts have often traveled more miles than the average person would in their entire lifetime. Moreover, a single part may consist of multiple components, each produced in different locations and assembled into the final spare part that’s ready to be sold.
However, with changing perspectives on production processes from both a profitability and an environmental standpoint, we are likely to see a shift in the spare parts business. The way we think about producing and selling spare parts is evolving, and businesses in this industry will need to adapt to stay relevant in the…
