PARTS DEPARTMENT MANAGEMENT

Course Information and Registration

Dates:  Mar. 12-13, 2024, Apr. 16 - 17, 2024, May 21 - 22, 2024

Cost: $775 USD with early registration discount (Kubota Dealers click here)

Location: Virtual Event - Instructor Led via ZOOM

Schedule: Two Days - 11:00 AM to 4:00 PM Central Time

Fees Include: Training, Certification, Course Materials

Course Information:

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
• Increased synergy between your Parts and Service Departments

TOPICS COVERED:

• Parts Financials:
  • Impact 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 Pricing: Mark-up vs. Margin, Elastic and In-elastic pricing
• 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.
• Millennials in the Parts Industry:
  • The coming generational talent crisis in North America.
  • How Millennials differ from other generational groups.
  • How you can attract and retain Millennials.
• Personnel Management:
  • Recruiting, grooming and motivating talent.
  • Key strengths to look for, and red flags to avoid, when recruiting Parts Employees.
  • Setting annual objectives and completing annual performance reviews.

Cancellation Policy

Less than 30 days prior to the event: The student will receive a registration credit to attend a future Parts Academy course. There is no expiration on the credit for attending a future course. A monetary refund is not available.

30 days (or more) prior to the event: Full refund minus the credit card transaction fees or receive a registration credit to attend a future Parts Academy course.