by PartsEdge | Oct 11, 2022 | Parts Inventory Management
As we recently discussed, idle inventory is trending up for almost all dealerships and manufacturers. Special orders can be one of the biggest contributors to an increase in stock you don’t need taking up shelf space and undermining your overall inventory health and...
by PartsEdge | Sep 27, 2022 | Automotive Industry
Rising gas prices and quickly improving technology in combination with many other factors have led to a continuously growing interest in electric and EV vehicles. In Q2 of 2022, EV sales made up 5.6% of the total market, which is an increase from 5.3% in Q1 and an...
by PartsEdge | Sep 13, 2022 | Parts Inventory Management
In our work with the parts inventories of hundreds of dealerships across the country, we’ve gained valuable insight into industry-wide trends and their causes. For quite some time, the average for non-manufacturer guaranteed obsolescence hovered around 10-12%, but in...
by PartsEdge | Aug 22, 2022 | Parts Inventory Management
The jury’s out on the state of the US economy, but most think a recession is coming- if not already here. Unfortunately, recessions are a predictable and somewhat normal part of the modern economy. Even if 2022 isn’t the start of a recession, there are sure to be...
by PartsEdge | Aug 9, 2022 | Parts Inventory Management
Labor shortages and a shifting market have meant many dealerships have promoted or hired new-to-the-position parts managers, resulting in a dire need for training and support. We’ve said it once and we’ll say it again: the role parts managers play is crucial for...
by PartsEdge | Jul 26, 2022 | Parts Inventory Management
Unexpected challenges are truly the new normal for almost all dealers. Between labor and part shortages, increasing costs, and pandemic protocols, not one operation we’ve spoken with has made it through the past two years completely unscathed or unchanged. While some...
by PartsEdge | Jul 12, 2022 | Parts Inventory Management
For Parts Managers, it can be difficult to keep in mind both a sales and investment perspective on parts. In the day to day, immediate demand trumps all else- sometimes resulting in an overall inventory that is sluggish, overstocked, and lacking in width. Here’s how...
by PartsEdge | Jun 28, 2022 | Parts Inventory Management
Parts departments are responsible for producing nearly 50% of overall dealership profit yet, in our experience, they are often undervalued, neglected, and under-supported. As the market has shifted in the wake of the pandemic, more dealers seem to be realizing the...
by PartsEdge | Jun 6, 2022 | Parts Inventory Management
We talk a lot over here about being proactive vs reactive. The basic idea is that if you’re constantly stuck in the muck of emergencies in your parts department, it’s impossible to be developing plans and or making big-picture analyses of your operation. Making...
by PartsEdge | May 24, 2022 | Automotive Industry
In 2021 there were more recalls than previous years, but the good news is the total number of vehicles involved was less than in the past. Nonetheless, recalls are an unavoidable and ongoing challenge for manufacturers, dealers, and parts departments. One of the...
