Justin Holman (CEO) was delighted to present on the Lets Tech stage at AAPEX 2018. The topic of his presentation was “Data Science & Technology for demand forecasting in the Aftermarket”.
Watch the 1 min 44 second summary below featured on AAPEX TV.
For more information or to arrange a demo please contact Shawn Wills, (303) 956 2848, firstname.lastname@example.org
An important piece of the automotive aftermarket category management puzzle involves an understanding of your category’s replacement rates. Replacement rates, which are also referred to as repair rates or failure rates, are essentially an estimate of the likelihood that a vehicle will need to a replacement part due to failure or normal wear and tear.
So, how should replacement rates be calculated?
Well, it starts with determining an appropriate numerator and denominator. The denominator should represent an estimate of the total population of vehicles. The numerator should represent an estimate of the total number of vehicles that required a particular part replacement.