Achieving Optimal Inventory Performance

Ted Ings is the Founder and President of Fixed Ops Roundtable® and Center for Performance Improvement®. With over 42 years in the automotive industry, he has pioneered innovative training solutions, significantly enhancing client success in customer satisfaction and operational efficiency. In today’s episode, we flashed back to a previous episode where Ted Ings and I talked about the crucial topic of obsolescence in the automotive industry and how it affects dealerships in various ways. I also shared insights on identifying and managing obsolescence, the domino factors at play, and the importance of communication and teamwork in the parts and service departments. Join us as we delve into the world of parts management, inventory control, the impact of effective processes on dealership success, as well as the role of PartsEdge in assisting dealerships in optimizing their inventory, reducing obsolescence, and achieving better overall performance. -------------------------------------------- This show is powered by PartsEdge: Your go-to solution for transforming dealership parts inventory into a powerhouse of profitability. Their strategies are proven to amp up parts sales by a whopping 20%, all while cutting down on idle inventory. If you're looking to optimize your parts management, visit 🔗 www.partsedge.com. Presenting: FIXED OPS ROUNDTABLE: 90's Rewind! – A 4-day Virtual Event with 150+ expert speakers, 30 panel discussions, and 3 keynote speakers discussing the latest technologies, processes, and information you all need to know! Happening on May 13 to 16, 2024. Get your complimentary tickets now. Click here! The Fixed Ops Roundtable is where the automotive industry goes to stay ahead of the curve, delivering an astonishing array of technology, experts, dealers, managers, education, marketing, and networking opportunities–all carefully designed to make a highly-targeted impact on the fixed operations business. -------------------------------------------- Takeaways Understand and mitigate inventory obsolescence. Enhance parts and service department collaboration. Develop staff careers to manage inventory. Quote “We want to make sure we got our inventories and processes down right.” -Ted Ings Connect: Ted Ings LinkedIn: www.linkedin.com/in/ted-ings Website: www.linkedin.com/company/fixed-ops-roundtable Kaylee Felio LinkedIn: www.linkedin.com/in/gotopartsgirl Website: www.partsedge.com