GM Virtual Training Series: Parts Management

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ATTENTION GMs! (or potential GMs)

Virtual Training Parts Department

Not sure how to prevent parts obsolescence?  Having trouble understanding stock orders, parts price increases and physical parts inventory counts?  Wondering what to pay your parts staff?  Look no further!

This course created by Jeff Sacks is specifically designed for general managers (or general managers-to-be) who would like to be more involved in the daily operations of the parts department. 

This course consists of 3 modules split into various chapters ranging in manageable learning chunks between 5 and 10 minutes. Many of the chapters conclude with testing exercises.

MODULE I: General Manager Series – Parts: Understanding Parts Inventory Fundamentals

This module will review the fundamentals of parts inventory management, including a glossary of parts terminology that has important implications at the dealership level. Discussions include what creates parts obsolescence and what report can be used to effectively control the largest contributor to that obsolescence.

MODULE II: General Manager Series – Parts: Understanding the Financial Fundamentals of the Parts Department

Having previously reviewed parts inventory management in module I, this module will address those accounting practices that are unique to the parts department – the elements that impact gross profit and are generated via stock orders, parts price increases and as the result of reconciliation of the physical parts inventory count.  Module II concludes with a review of an effective management report that should be looked at each month with your parts manager, as it tracks the metrics essential to having a successful parts department.

MODULE III: General Manager Series – Parts: Parts Department Profitability

In this final module of the parts series, we address the parts department guidelines that are used to measure department performance, including margin management, personnel productivity and asset management thresholds.  In addition, we discuss what needs to be in place to prevent parts obsolescence and what steps have to be taken to transform an unwieldy inventory with high obsolescence into a responsive inventory with minimal obsolescence. This module concludes with pay plans as they pertain to the parts department, best practices and internal controls.

Jeff Sacks Auto - Order Now