Establishing an Effective Parts and Service Department Program

Video Transcription

Video Summary

In this training program hosted by Daniel Surprenant, he focuses on establishing an efficient parts and service department. He discusses key performance indicators that should be targeted, such as gross profit margins, absorption rate, turnover of parts stocks, and sales made per employee. Daniel emphasizes the importance of prioritizing employee development in order to retain the best talent in the dealership. He explains how to calculate gross profit margins for parts and service, and provides desired standards for these departments. He also delves into topics such as inventory turnover, lost sales, and customer satisfaction. Daniel introduces the concept of SMART action plans, which are specific, measurable, actionable, responsible, and time-bound. He encourages managers to invest in their own personal development and recommends the book "The 7 Habits of Highly Effective People" by Stephen R. Covey. Lastly, Daniel highlights the importance of coaching and mentoring employees to improve overall performance and productivity in the department.

Keywords

training program

Daniel Surprenant

efficient department

key performance indicators

gross profit margins

employee development

inventory turnover

customer satisfaction

coaching