Stock Control and Stock Management
Due to the popularity of this course we are in the process of resubmitting it to FAS for further funding. If you would like to be notified of the next available dates please send your name and email address to info@europaacademy.com
Course Overview
Ireland has experienced significant growth in the economy over the past number of years. The Motor Industry has shared in this growth and prosperity with sales and profits reaching record levels.
In recent years a more competitive market has emerged with many dealerships experiencing more challenging trading conditions. To remain both competitive and profitable it is essential to continue to build on the After Sales side of the dealership.
The content of the course 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 course 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
Course Objectives
On completion of the course 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.
Course 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 set by Renault (which are based on last year) 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.
Course duration
2 days
Dates
To be confirmed
Fees
Fees include: tuition, documentation, morning coffee,
lunch and afternoon tea.
More Information
For further information and booking procedures or to discuss any aspect of this programme, please contact Patrick Reynolds Tel: 023 46672 / 087 7926077
or email: info@europaacademy.com
