Managing the Parts Business successfully

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Managing the Parts Business successfully

This course is designed for those who have worked within the Parts business for a minimum of 12 months and have new responsibility within a Parts Department of an element of it and have, ideally, attended a ‘Foundation Parts’ course. The course will enable them to:

  • Display knowledge of how their actions affect the performance and profitability of other functions within the business
  • Understand Stock Turn, Range and Depth of stock and manage inventory levels
  • Understand and calculate stock movement categories, ordering parameters and stock hold composition
  • Measure performance of first fill rate, lost sales and customer satisfaction
  • Forecast demand and safety stock levels for core business items and seasonal items
  • Reduce and control levels of slow moving and obsolete stock so as to improve profitability
  • Display an understanding of basic marketing skills that can both stimulate new sales opportunities and maintain margins on core business
  • Understand the basic financial elements of the business so that they can monitor and improve cash flow, margins and absorption rate contribution
  • Recruit, coach and manage staff to perform to their full potential

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