Uncovering Hidden Profit Opportunities in Parts Sales with Chuck Hartle

Chuck Hartle is the co-founder and President of PartsEdge, a powertool for Dealerships Parts Operations, helping to increase DMS utilization, improves efficiency, accuracy, and profitability with solid and consistent plans for eliminating all types of idle inventory in a Parts Operations. With over 40 years in the auto industry Chuck has the know-how and love for the industry that has enabled PartsEdge to identify the biggest needs of dealerships.In today's competitive auto industry, strategic parts pricing is key for dealerships to maximize profits. In this episode of the Parts Girl Podcast, Kaylee Felio interviews Chuck Hartle, Founder of PartsEdge, for insights on optimizing pricing through customer pay analysis and matrix utilization.Many dealers simply increase the pricing matrix attempting to improve gross profits. However, Chuck Hartle explains the bigger opportunity lies in evaluating maintenance parts pricing, which often stays unchanged despite rising costs. By conducting thorough customer pay analysis excluding internal sales, dealers can assess actual matrix usage. Surprisingly, only about 15% of parts are actively matrixed on average.Chuck Hartle also stresses that dealerships must breakdown inventory into more detailed sources with proper coding for flexibility. This enables multiple pricing options and matrices to meet goals. He advises working with experts like PartsEdge or the dealer’s DMS vendor for guidance on optimizing inventory coding structures.By regularly analyzing customer pay data, targeting maintenance parts pricing adjustments, implementing granular inventory coding, and seeking Chuck Hartle's expert input, dealerships can make data-driven decisions to accurately optimize parts profits.--------------------------------------------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.--------------------------------------------Takeaways1. Only 15% of parts use matrix pricing.2. Focus pricing on maintenance, not just matrix.3. More inventory sources and price codes enable accurate pricing.Quote“Nowadays, only about 15 percent of the parts are actually being matrixed.” -Chuck HartleConnect:Chuck HartleLinkedIn: ⁠www.linkedin.com/in/chuck-hartle-1923ab14⁠Website: ⁠www.partsedge.com⁠Kaylee FelioWebsite: ⁠https://www.partsedge.com⁠Facebook: ⁠  / partsedge  ⁠LinkedIn: ⁠  / gotopartsgirl  ⁠Phone Number: (800) 825-7562Email: [email protected]