We are rapidly approaching the end of the summer selling season. We all are well aware of the historic changes that have recently occurred including bankruptcy for both Chrysler and General Managers. The recently concluded â€œcash for clunkersâ€ program was another history making event. Many of you are wondering what will be nextâ€¦
Having been directly involved in this business for over 30 years there is one thing for sure that is coming. Change. It has been, and will always be, something we must embrace and take advantage of where we can.
For those stores that are taking advantage of some form of precise vehicle inventory management, You know how important this critical area of your business is to the â€œbottom lineâ€. For those of you who have hesitated to become involved in a proactive way with vehicle inventory managementâ€¦It is now time to take the next step.
Get involved with vehicle inventory management. I donâ€™t mean print an aging report and go and beat up your managers. I mean know exactly by model number, color, equipment, etc., how well each of your new vehicles have been selling. You must have a stocking guide that will show you what your target supply needs to be on the ground and â€œin the systemâ€ for the entire new vehicle department. A 60 days supply of ground stock is optimal with a 30 days supply in the pipeline. The same type of information needs to be in place for the used vehicle department. Here you need to know by year, make, model and vehicle segment. Once you have the information at your fingertips, you can then take 5 minutes every morning and alert all of your management team what the â€œaction planâ€ is for the day, the week and the month. Naturally, you will make some adjustment along the way for things like seasonality, special events, model close out, etc. One of my favorite sayings is. â€œwithout a map, any road will doâ€. GET YOURSELF A MAP!!
The small monthly investment in our vehicle inventory management system will pay huge dividends if you and your management team take the process seriously and use the tools. We all know that any special tool that hangs on the wall is not making you money.
If you would like to see some of the features and benefits of our vehicle inventory management system, please contact me anytime. Believe me, It is time to take that next step. Call it a leap of faith if you will. All I can tell you is that you will be glad you did.
New Direct line 561 404 8450