department management

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This training is designed for Parts Managers and individuals aspiring to become one. The program covers essential topics such as Parts Financials, Parts Department Metrics, effective Parts Management Training, collaborating with the Service Department, and managing Parts Talent.

This course is ideal for anyone currently serving as a Parts or Service Department Manager, or those aspiring to take on a managerial role. Additionally, it is beneficial for Finance and HR executives who want to gain a deeper understanding of Parts Department Metrics and Parts Financials, making it a valuable resource for enhancing their knowledge in Parts.

Gain a deeper understanding of financial metrics and Parts Department Metrics for your dealership. Identify how daily parts operations influence the dealership's bottom line and assess Parts Financials effectively. Implement best practices for managing parts department employees and learn how to attract and recruit talent in today's labor market. Establish a robust employee development program and create a succession plan specifically for your dealership's Parts Department. Discover how to work with and leverage the strengths of all generations to enhance your team. Finally, foster increased synergy between your Parts and Service Departments for better overall performance.

Parts Financials

· Working with P&L statements

· Parts Department impact on the P&L

· How you affect the Balance Sheet

· Understanding Cash Flow Statements

· Gross Profit vs. Operating Income vs. Net Income

Parts Metrics

· Leveraging metrics that matter

· Safety metrics

· Inventory metrics

· Financial metrics

· Parts & Service Absorption

· Market share metrics

· Parts potential per installed unit

Parts Pricing

· Margin vs. Mark-up

· Market Based Pricing

· Target Margin Pricing

· Matrix Pricing

· Price Elasticity

· Best Practices in Parts Pricing

Partnering with the Service Department

· Service capacity constraints & Technician shortages

· On-hand inventory correlation to Service Efficiency

· Viewing the Service Department as a Parts Customer

· Parts not used by the Service Department (return / restock)

· The second counter concept

Generational Impact on the Parts Industry

· Generation 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

Download the full agenda here

Dealers: $720 USD

US Kubota Tractor Dealers using KEP Subsidy: $360 USD. To optimize your business, consider reviewing your Parts Department Metrics and enhancing your Parts Financials. For more insights, click here for details on Parts Management Training.