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