Part one of three in our Parts & Accessories Management Program will provide you with an in-depth look at inventory strategies, margin management, and leadership skills. After completion, the parts manager will be able to identify ways to make your inventory turn faster, at higher margins, driving additional profitability. Students will also have a better understanding of what metrics and processes drive the department. This knowledge will increase communication within the dealership and improve profitability within the department.
In this course, students will experience instructor-led interactive discussion, department analysis tools, and classroom lecture. This course will utilize NCM's Guarantee of Action (GOA) plans to provide a roadmap for improvement that is individualized for each student.
Class Length: 2 ½ days
Key Objectives & Competencies:
- How to manage a parts department for maximum profitability
- Develop pricing strategies to maximize margins and increase sales
- Utilize a variety of formulas to measure inventory performance
- Manage numbers through NCM Benchmarks and key performance indicators (KPIs)
- Understand and rate your dealership on the 35 key processes for the parts department
- Measure inventory through gross turn and true turn performance measurements