JDC’s Inventory & Purchasing Course begins with the basics of inventory and purchasing – what are inventory turns, what should they be, how often should we restock and reorder from our vendors, how can we define accurate car stocks, prevention of obsolescence, how to reserve for it and even how to take a physical inventory. It includes things that should be monitored on a regular basis such as a comparison between parts purchased vs. parts Cost of Goods Sold. “While we never expect nor can we afford to have, hold for parts percentages below our goal of 10 – 12% - as the percentages climb beyond those rates we are quite literally throwing labor at a parts problem - Consider the fact that the most expensive component in our service department is labor – can we afford NOT to solve this problem?” stated Jack Duncan, Owner of Jack Duncan Consulting. Recent studies have shown as many as two or more technicians in some dealerships whose time is fully consumed by installing parts that should have been in car stocks on the first visit. The other side of this coin is inventory obsolescence. If we are not monitoring our usage trends and watching for parts with descending usage for example when a model gets older and begins to be replaced, we will have inventory that we have paid thousands of dollars for that now must be written off or sold at a loss. In a recent study, it was found that the average dealership may be carrying approximately $150,000 in obsolete inventory.
JDC has partnered with Katun Corp. for the upcoming Inventory & Purchasing course to be held at the Doubletree Airport Hotel in Oklahoma City, OK on December 5 & 6th.
Special pricing is available for Katun Customers!
Seating is limited to 8 attendees per class so please act soon to get more information or to reserve your seat tin the class!
Josh R: Jack Duncan is a massive reason why I was able to transition from A Field Service Supervisor all the way to a VP of Service. His multi-decades of experience is invaluable, but his investment in people is truly unique. Jack’s main concern is growing people and letting the business side grow naturally from that investment.
Doug Y: Few people have the opportunity to report to a manager who is also a coach and a mentor – but I did when I worked for Jack Duncan. I had the pleasure of working for Jack for 5 years and I was able to benefit from his many years of industry experience and knowledge as well as his extensive exposure with OMD, ADS/MWAi and Monarch to name a few. He is the true numbers guru, his attention to detail is second to none and you can always count on his PowerPoint presentations to have a witty spin. I have followed his career since then and he continues to be an industry icon from which many continue to listen and learn. Several large companies have sought him out to capitalize on his skills and experience and he has changed the way they do business. He will always be a wealth of knowledge and a valued compatriot for which I continue to utilize. As a coworker, mentor and leader, Jack earns my highest endorsement.