Seattle — Co-founder and CEO of Paramount Data Management, Johannes Crepon, has been busy modernizing electronic cataloging solutions for the industry's auto parts manufacturers, consisting of more than 900 brands. Recently in May, the cloud-based data management platform closed a $4 million seed round led by a venture capital firm. With that funding boost, Crepon plans to enhance the company's new customer adoption program. Now, as the industry enters the post-pandemic stage, Crepon tells Aftermarket Business World how PDM is ready to contribute to the industry supply chain.
How would you describe the process of integrating the movement of goods in and out of the marketplace?
Goods move most efficiently when decisions are data-driven. Given the worldwide distribution of products in the automotive space, keeping inventory optimized regionally is vital. Retailers that can offer local pickup after online orders have a strategic advantage. The automotive aftermarket has its challenges given the long tail of product offering. With the large stock keeping unit (SKU) count, it is impossible to carry all products everywhere, and for that reason, transparent information about availability is essential.
Which part of the supply chain do you feel is underrepresented in the aftermarket?
I am not sure if any part is necessarily underrepresented. However, the automotive aftermarket is unique in many respects. One of the big challenges for the automotive aftermarket is the long tail of its offerings. Therefore, classic fulfillment services cannot be utilized for the entire spread of offered products.
Explain what PDM plans to do with the $4 million in seed funding that the platform secured.
PDM entered the market to provide leading cataloging and product information management (PIM) technology. This seed funding allows us to expand our feature offering further and address the challenges of automotive parts companies. Our goal is to connect as many stakeholders in the automotive aftermarket parts industry as seamlessly as possible. We feel fortunate to be trusted by some of the most influential parts manufacturers and largest retailers to facilitate the exchange of high-quality product data. We are supporting our growth by expanding the team and continue building out our unique technology.
Are there any projects PDM plans to work on related to improving the supply chain?
We certainly have features on the horizon that will improve the supply chain. We consider the supply chain beyond the physical movement of products; it also includes forecasting and just-in-time delivery.
As the country emerges from the COVID-19 crisis, what trends do you see rising on the horizon?
The automotive aftermarket has weathered the COVID-19 crisis and proven once again that an overall economic downturn has a lesser effect on this industry. I anticipate that personal transportation will for some time be preferred over mass transportation, which supports the automotive parts industry. We notice trends such as outdoor activities and the use of recreational vehicles, which have been a big push for sub-segments of the automotive parts industry.
Do you feel that the industry is ready to go back to in-person gatherings or think that they can live without trade shows and conferences?
The automotive industry is so much built on relationships. People buy from people. I have built PDM to the market leader in our field by being present at conferences. The ability to interact with somebody personally feels so much more energizing. Deep relationships are much easier to establish in the physical presence of customers and stakeholders. However, we believe that this is the time for trade shows and conferences to innovate and increase the value they bring to visitors.
Will PDM be participating in the AAPEX or SEMA trade shows?
Yes, we will attend both events. As we were semi-finalists at SEMA's Launchpad Business competition last year, we expect to have a booth at this year’s show in November. And we are also exhibiting at AAPEX. We are proud to stand among the leading automotive parts suppliers and retailers. In-person meetings with the attendees are essential to strengthen these relationships further.
