GE Capital, Commercial Distribution Finance (CDF) has selected RV|ID to enhance its floorplan collateral management services for recreational vehicles.
According to a press release, the global positioning system-based (GPS) service will increase the ease and speed of doing business for both manufactures and dealers by providing real-time mapping, reports and alerts on RV assets in the U.S.
“This is an innovative service that can be used industrywide to efficiently and effectively monitor inventory,” said Pete Lannon, managing director for CDF’s RV business. “GE Capital is pleased to introduce new technologies like RV|ID to our customers — one more way we’re providing them with value beyond money.”
Developed by Red Lantern Labs of Solana Beach, Calif., the system provides RV makers with real-time logistics information as the assets move from factory to dealer to enable the monitoring of retail-level inventory and shelf space. For dealers — especially those with rental businesses — RV|ID provides mileage and usage information to allow them to better service and maintain their fleets. Similarly, CDF will be better able to track assets prior to retail sale.
“We’re pleased to be able to provide this important new tool to GE Capital,” said Jon Corn, president of sales and business development for Red Lantern Labs. “Using RV|ID, a manufacturer can improve production logistics and increase customer satisfaction while dramatically reducing its lemon law exposure; and a dealer can use RV|ID to improve inventory management. It’s a true win-win situation.”