Kaylee Felio: The Trend of Obsolescence

Kaylee Felio is the sales and marketing manager for PartsEdge, a powerful tool to maximize the potential of parts managers through technology and a touch of consulting. Through her 7 ebooks, Kaylee is helping parts managers with the key areas that they should focus on to be more profitable and to increase their level of service to customers.👉 Register for the upcoming Fixed Ops Roundtable EventWhat we discuss in this episode:Kaylee is here to discuss the trend of obsolescence in the parts and service industry, which is responsible for a significant portion of dealership gross profits. Kaylee believes that investing in tools, ongoing education, and a proactive mindset can help parts managers succeed in this competitive field.  We will also be discussing the importance of viewing the parts department as its own business and the potential for growth in the online sales sector. Obsolescence refers to vehicle parts with no sales or receipts in a seven to twelve month period, which have a 95% chance of remaining unsold. To manage obsolescence, it is important to track these parts and forecast their potential impact on your inventory. A good way to do this is by calculating the average amount of parts that will move into the obsolescence category over a six month period. It is also important to find a balance between a healthy level of obsolescence and ensuring that your team has the tools and data they need to be proactive in managing inventory and making better decisions. At Parts Edge, they help dealers understand obsolescence and improve their processes for managing it, working closely with parts managers to produce a healthier inventory and increase sales. Another key factor in avoiding obsolescence is staying up to date with industry trends and technologies, such as online sales platforms, to ensure that you are able to meet the needs of your customers. By following these strategies, you can improve the performance and profitability of your parts and service department. Tune in for valuable insights on how to level up your game in the world of fixed operations.Listen to the episode featuring Kaylee Felio for even more insights!Enjoying The Fixed Ops Roundtable Podcast? Please leave a rating and review 👇Apple: https://podcasts.apple.com/us/podcast/fixed-ops-roundtable/id1608656237Spotify: https://open.spotify.com/show/15HHYoyvCo1PSFwYn02UXYConnect with Ted Ings and the Fixed Ops Roundtable:Register for the next Fixed Ops Roundtable EventTed Ings on LinkedInCenter for Performance Improvement