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Kaylee Felio is the Sales and Marketing Manager for PartsEdge, the power tool for helping your parts department generate higher profits. It's no secret that hanging onto aging auto parts inventory can cause many problems for retail auto dealers. The most obvious challenge is that if the parts become obsolete, they are more difficult to sell.
Kaylee's Advice For Avoiding Auto Parts Obsolescence:
00:00 - Introduction to the episode subject matter
01:57 - It's important to remember that fixed operations is the second highest producing revenue channel. Although it rarely gets enough talk time throughout the industry, the parts and service department has the genuine ability to provide more predictable revenue than auto sales.
03:56 - The best thing a dealer should focus on in fixed operations is getting a good grasp on the current parts inventory and forecasting obsolescence. OEMs are getting much more strict about returns, which leads dealers in a position where they need to know what to stock and in what quantity to not only fulfill the market demand but ensure that they keep the books in the black.
06:14 - Parts managers should take the time to identify blind spots when it comes to their parts inventory so that they can improve at spotting obsolescence before it's too late.
Listen to the full episode for even more insights and context from Kaylee Felio!
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Thanks, Kaylee Felio!
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