Parts Academy

BENEFITS TO YOUR DEALERSHIP:

• Deeper understanding of financial metrics for your dealership
• Identify how daily parts operations impact the bottom line of the dealership
• Implement best practices for managing parts department employees
• Learn how to attract and recruit talent in today's labor market
• Establish an employee development program
• Create a succession plan for your dealership's Parts Department
• Learn how to work with and get the most from the Millennial generation
• Increase synergy between your Parts and Service Departments

TOPICS COVERED:

Parts Financials:

• Impact on the P&L Statement, Balance Sheet and Cash Flow Statement.
• Gross Margin, Operating Income, Pre-Tax Profit and Net Income.
• How financial statements are affected by Parts Inventory, Parts Write-offs, and Obsolete Parts.

Parts Metrics:

• Metrics that really matter and benchmarks for each.
• Measuring Parts & Service Absorption and how other dealers are using this metric to improve their business.
• Measure parts market share for your market and calculate the potential for parts sales based on your customer base.

Parts Pricing:

• Margin vs. Mark-up
• Market Based Pricing
• Target Margin Pricing
• Matrix Pricing
• Price Elasticity
• Best Practices in Parts Pricing

Partnering with your Service Department:

• How Parts can help Service be more efficient and increase service capacity.
• Treating the Service Department as a customer.
• How the Service Department can help Parts Sales & Operations.

Generational Impact on the Parts Industry

• Generations in today's Workforce
• Traits and priorities for Millennials
• Traits and priorities for Generation Z
• Adjusting your business

Recruiting Parts Talent

• Attracting Talent
• Filtering Talent - Key strengths and Applicant Screening
• Red lights and warning signs
• Interviewing

Onboarding New Talent

• Fundamentals and Benefits of Onboarding
• Areas for Onboarding
• Onboarding Checklist

Employee Turnover

• Preventing Turnover
• Preparing for Turnover
• Clear role definition
• Right person in the right role

Retaining Your Best Talent

• Quiet Quitting
• Stay Interviews
• New Gen Values
• Building Career Paths
• Position Tiers
• Motivating parts employees
• Grooming talent
• Succession planning
• Exit Interviews

Please contact us with any questions: 262-214-0204 or info@partsacademy.com

VIRTUAL TRAINING INFORMATION:

This course will be held virtually using ZOOM Video Conference services. The course will be held 11:00 AM Central until 4 P.M Central both days. The event will be instructor led with sufficient interaction between students. Class size will be limited to ensure ample time for questions and discussion.

For more information on joining a ZOOM Video Conference click here.

COURSE AGENDA: Click here for the full Course Agenda: Parts Department Management Agenda.pdf