One of the biggest challenges mentioned by dealers is finding time to analyze all the information regarding parts transactions that exist in their dealer management system.
The hardest costs to control are those little that slowly accumulate into large losses for the dealership. Many hidden costs can be avoided by successfully managing the parts department.
Once you’ve "cleaned" your inventory and eliminated obsolete parts, you must begin to record the sales you are losing due to not having parts in stock.
10 Important Indicators Managers Should Monitor - Part 3
Gross profit for Service, Parts and Bodyshop was 46% in 2008, versus 4.5% on new vehicle sales, according to a 2009 NADA report. These figures underscore the importance of monitoring your aftersales operations so as to maximize your bottom line.
10 Important Indicators Managers Should Monitor - Part 2
Peter Drucker once said, "What gets measured, gets managed." The current economic scenario makes it more important than ever for managers to monitor dealership health. Luckily, today's dealer management systems provide an abundance of easily obtainable information… but what exactly should you be tracking
10 Important Indicators Managers Should Monitor - Part 1
It's no news that the worldwide economic crisis has taken a toll on the automotive sector, as the following figures from NADA's latest annual report underscore: