This is Part 2 in a three-part article. View Part 1 >> Vendor Bid Specifications – Begin developing your Vendor Bid Specifications by reviewing vendor invoices and recording the products currently being purchased. Include the quantity, packaging, and frequency. Once this data has been collected, you may consider splitting the list into more manageable sections. Categorize each item with a priority identification code to identify the mailing sequence of the bid letter for that particular… Managing Fixed Operations Assets – Part 2Read More Managing Fixed Operations Assets – Part 2
This is Part 1 in a three-part article. The end result of the “strongest month we have had in the fixed operation” is often disappointing. We just sold and grossed more than we ever have. But the bottom line (or net profit) does not reflect our record-setting performance. Why? The answer is usually that while sales were booming, expenses were zooming – unnoticed and uncontrolled. M5’s primary objective is to provide service, parts, and body… Managing Fixed Operations Assets – Part 1Read More Managing Fixed Operations Assets – Part 1
As a traveling consultant I have had many opportunities to visit dealerships across the country. There are some common themes I have come across regardless of the location. First, let me say that every dealership operates under its own set of dynamics and structures; however, when the subject of customer acknowledgement comes up, many dealerships struggle with getting their people to greet and acknowledge customers in a timely fashion. The comparison of fast food restaurants… When Pay Plans Are Designed to Manage People, the Only Thing People Manage Is Their Pay PlanRead More When Pay Plans Are Designed to Manage People, the Only Thing People Manage Is Their Pay Plan
This is Part 2 in a two-part article. View Part 1 Most demand for NS parts from the Workshop results in lost Productivity in the stalls since the work can’t be completed at that time. Tech Time lost cannot be restocked like unsold parts can be. Time lost waiting for parts to be delivered, even Aftermarket sourced ones, is lost forever. Even if a Tech has two bays, one of them will be sitting idle,… Non Stock Parts Are Critical To The Health Of Your Investment – Part 2Read More Non Stock Parts Are Critical To The Health Of Your Investment – Part 2
I know, everyone focuses on the quality of the stocking Investment, but where do you think those part numbers came from? More to the point Non Stock (NS) parts are an integral part of Inventory Management. Consider for a moment: Typically 20% or more of your sales come from NS parts every month in dollars. When we measure True Turn we subtract NS sales from total sales, annualize that value, and divide it by the… Non Stock Parts Are Critical To The Health Of Your Investment – Part 1Read More Non Stock Parts Are Critical To The Health Of Your Investment – Part 1
In the many dealerships that that I have had the opportunity to visit and work with over the years, there always seems to be the same ongoing challenge in most of them: Saturday hours. Let’s take a look at some of the challenges: Should we be open and what should our hours be? Saturday staffing What type of work is scheduled? Should we be open and what should our hours be? The quick answer is…yes.… Are We Really Open On Saturdays?Read More Are We Really Open On Saturdays?