16 May Need more Parts Training?
Need more Parts Training? We’re now offering live workshops!
We’ve worked with large Dealer Groups, Dealersedge, and Auto Dealer Associations to provide valuable parts training for long-term inventory success. If you’re interested in scheduling a workshop, get in touch!
Here are the topics we have been covering and feel are most important for Dealerships profitability and success.
1) Manufacturer Replenishment Programs. Are they working and how do they stack up to traditional inventory stocking? Have you ever thought that your manufacturer might be matrixing you? Believe it or not, your manufacturer has learned how to matrix their dealers.
- State of the Dealership Parts Industry
- Benchmark Percentages for Manufacturers
- Is your Manufacturer “Matrixing” You?
- Critical Inventory Measurements (Month No Sale versus Months No Receipt)
- Purchase to Sale Ratio, are you buying and selling at the same rate?
- Technical Obsolescence, forecasting future idle inventory growth
- Inventory turns, how to calculate them properly
2) Matrix Escalators. Is Your Escalator Working Effectively? Ways to build even Profitability back into your parts operation. For most dealers, Parts is the largest capital investment behind vehicles that isn’t financed. However, it can also be one of the largest headaches if not given the right tools to gain more control. When parts with only a slight chance of selling accumulate on the shelves, both profit and return on investment are depressed. This happens for a variety of reasons, many rooted in company processes, but one big one is rooted in parts pricing.
- Dealership Parts Pricing Practices
- Four Steps to Building an Effective Pricing Strategy
- The Escalator Table
- Evaluating Your Own Escalator
- Wholesale Pricing
- The 25-10 / 30-5 Rule
Send us an email to schedule a live workshop!
If you’re interested in providing more tools and education to your parts operation on a monthly basis, get in touch! We’re passionate about creating the most successful inventories and providing parts education for all dealerships.