Hi Everyone! Kaylee Felio here, your #gotopartsgirl, host of The Parts Girl Podcast, and Sales and Marketing Manager at PartsEdge. Today, I’m thrilled to share more information about how my upcoming NADA workshop, Unleashing the potential of Purposeful Inventory Management, will help you reshape your approach to parts inventory management and lead success in your dealership.
Unlocking Potential: A Glimpse into the Parts Inventory Management Journey
Fixed Operations is responsible for almost half of the dealership’s gross profits. It is a $125 billion industry with $75 billion directly from parts sales. For parts operations, optimizing inventory can be a golden opportunity, but Parts Managers are faced with many operational complexities and responsibilities- making it difficult to know where to begin. Through my experience working and speaking with hundreds of dealerships across the country, I’ve come to understand that these challenges hold valuable lessons that, when addressed correctly, can reshape our operations for the better.
Challenges and Lessons Learned
Parts Inventory management comes with plenty of challenges. Increasing obsolescence, resource constraints, and inadequate support can stifle growth and profitability. My experiences have taught me that these challenges are not roadblocks, but rather stepping stones to growth. Overcoming them demands innovation, data-driven decision-making, and a proactive mindset. For example, we recently began working with a parts department that was at the top of its game but struggling to keep a close eye on such a large inventory with so many (literally) moving parts. They were unable to generate the kind of reports needed to make informed, proactive, and growth-centric decisions. By breaking down their inventory into many sources and identifying KPIs that indicate changes needed down the line, they were able to save thousands of dollars and countless hours in reporting each week.
Join Me at 1 pm on February 3rd at NADA 2024 in room W222 for: Unleashing the potential of Purposeful Inventory Management
This pivotal discussion doesn’t end here. I’m excited to extend this conversation in my upcoming NADA workshop. In this educational session, we’ll dive deeper into the strategies I’ve mentioned and unveil new perspectives. Through real-world examples and hands-on exercises, we’ll explore actionable techniques that empower you to navigate the challenges of parts inventory management successfully.
In the realm of parts inventory management, challenges and lessons are intertwined. By addressing challenges with innovative solutions, we lay the foundation for sustainable growth. My journey has taught me that with the right strategies and a forward-thinking mindset, we can transform roadblocks into stepping stones on our path to excellence. As we prepare to gather at the NADA Show workshop, I’m eager to connect with fellow professionals who share my passion for driving change! Be sure to follow The Parts Girl Podcast and connect with me on LinkedIn. Don’t miss this opportunity to break free from old habits and create new successes, because birthdays are for people, not parts. RSVP on LinkedIn here!