Return to Automotive Courses Index

Stock Control and Stock Management

Overview

The content of the programme is designed to train and develop participants to be confident and competent to perform the duties outlined in the Dealership Job Description. The focus is clearly on the key areas of STOCK CONTROL and STOCK MANAGEMENT and the vital importance of being able to control and manage all aspects of stock within the dealership. The practical approach taken in designing the module is a key factor in achieving a successful outcome for all participants as well as the hands on approach in the completion of real life exercises in the classroom environment.

Objectives

On completion of the Module participants will be able to:

• Understand the most effective methods and procedures in stock ordering and stock control in relation to both stock holding and stock turnover.
• Describe the methods of calculating stock turnover rates.
• Understand the methods of measuring profit margins and the importance of achieving profit targets.

Content

Stock Control and Stock Management procedures in relation to:

• Ordering methods and procedures in line with agreed policies in such areas as suggested stock orders, VOR orders mix, discount mix on types of stock and the stock delivery time frame.
• Monitoring of stock levels to achieve targeted STOCK TURNOVER RATES. A Stock turnover target of 6 times per annum is an agreed target for a well managed Parts Department and methods to achieve this are fully explored. The cost of STOCK HOLDING and STOCK OBSOLESCENCE is closely linked to good stock management and will therefore receive a high priority.
• Monitoring of STOCK REBATE targets and current dealership stock requirements . A clear understanding of the workings of Rebate Targets is vital linked to the costs of holding stock.
• Methods of managing and controlling STOCK OBSOLESCENCE and the cost to the dealership of STOCK WRITEOFFS. Provision for stock obsolescence is made in the accounting records which must be understood and viewed in a realistic way.
• Profit margins in terms of their importance to the business and how to calculate margins are given priority.
• Monitoring individual dealership targets in terms of sales, stock holding and profit margins. It is important to be able to work the numbers and be able to understand the relevance of what the targets mean in practical terms.

Note: The module can be adapted to facilitate Junior, Middle and Senior levels of management with focus on meeting the specific needs of client companies. The module can also be modified to meet the specific requirements of a particular company by way of a tailored approach.

Duration

2 day training programme

Core Teaching Faculty

Patrick Reynolds - Programme Leader Associate Faculty, Europa Academy

More Information

For further information and booking procedures or to discuss any aspect of this Programme, please contact the Programme Leader at: Europa Academy, Tel: +353 1 88 39 200 or Tel: +353 23 46672 Mobile: +353 87 7926077, Email: patricktreynolds@yahoo.co.uk