Items Tagged with 'Inventory Turns'

ARTICLES

[Podcast] Comp Programs to Move Used Equipment: Dealers ‘Trade’ Best Practices

In this podcast recording from <em>Farm Equipment</em>, 3 farm equipment dealers share their expertise for the levers that work best to get the behaviors that dealers want and need relative to used equipment inventories.
In this podcast recording from Farm Equipment, 3 farm equipment dealers share their expertise for the levers that work best to get the behaviors that dealers want and need relative to used equipment inventories.
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Chris schott

Dealership Minds: Coordinating Orders to Operate as 1 Unit

In over 30 years of working in the parts department at Kern Machinery, Chris Schott has seen a lot of changes. When he first started, a 24-hour turnaround on getting a part was amazing. “That’s not good enough any more. There are thousands and thousands of dollars on the line, so 24 hours is too long,” he says. “That creates the need for more inventory because customers want solutions and they want to be rolling now. If they have a piece of equipment down, they may have 3 pieces that operate behind it that can’t operate because the other one’s down. Well that adds up to big money fast. Downtime is a big thing for our customers and they’re under a lot more pressure.”
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New Equipment Inventories Showing Improvement

The most recent figures released by the Assn. of Equipment Manufacturers indicates that North American inventories of new tractors and combines are improving vs. a year earlier. This may come as little comfort to 40% of dealers who say they still have “too much” new equipment on their lots.


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CODB cover image

Cost of Doing Business: How Far Have We Really Come?

Tracking financial and operational measures shows how dealers have or have not improved their business performance over the years.
Any farm equipment dealer who's been around more than a few years knows how dramatically this business has changed. For one thing, everything about agriculture seems to have gotten bigger: bigger dealers with bigger sales territories; bigger customers with bigger demands; bigger and more expensive equipment; bigger top and bottom lines.

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Cost of Doing Business: What the Numbers Can Tell Us

Comparing Cost of Doing Business numbers to a hypothetical dealership demonstrates how to pinpoint trouble spots in our financials.
In this part of the special report, the Western Equipment Dealers Assn. (WEDA) provided an analysis of finances and operations of a hypothetical dealership named Brookfield Farm Equipment, or BFE, using the 2014 Cost of Doing Business study for comparison purposes. This particular dealer would fall in the larger group of dealers with more than $75 million in annual sales.
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