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Dealership Minds Summit 2017

[Video] Dealer-to-Dealer Panel: Compensation That Emphasizes — and Moves — Used Equipment

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
Dealers lament about the struggles of keeping salespeople focused on moving used equipment rather than just the shiny new units. A sure way to light a fire under your sales team is with compensation plans designed specifically to move used equipment — where the biggest impact exists. From withholding commission until a trade is sold to attaching bonuses to the used units, compensation plans tied to used equipment vary greatly — all with their own pros and cons.
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Dealership Minds Summit 2017

[Video] Outside Looking In: An Analyst’s View of Farm Machinery’s Used Equipment Challenges

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
The U.S. farm machinery industry is closely monitored by Wall Street, resulting in a vast array of information on the industry and where it is headed. We know Wall Street’s perceptions of the industry counts. Like it or not, Wall Street influences decisions in Moline, Ill., Racine, Wis., and Duluth, Ga., that ultimately impact your business as dealers as well.
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Dealership Minds Summit 2017

[Video] Dealer-to-Dealer Panel: After the Trade-In: Immediate Actions for Getting It Back Into the Market

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
A salesperson takes a used unit in on trade. Now what? If you don’t have a plan for what happens next — starting that same day — you’re already losing. Experts say having a detailed plan — with accountability — on how quickly the unit is cleaned up and serviced, photographed, listed, etc., will do wonders for inventory turns. During this dealer-to-dealer panel, 4 seasoned dealers will share their internal systems to keep attention on traded equipment and get it back out into the market ASAP.
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Dealership Minds Summit 2017

[Video] Beyond Market Share & ‘Paper Profits’ ... Attacking Your Dealership’s Used Equipment Turns, Revenue Mix & Cashflow

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
With prognosticators continuing to forecast lower wholegood sales throughout 2017, and no significant uptick in such sales before 2019, it is imperative that dealers intent on surviving this protracted downturn rethink their view of the wholegoods department. Impacting this transformation will be the fact that most of the manufacturers, if not all of the majors, will be putting pressure on their dealer organization to significantly increase dealership market share, says Dr. Jim Weber.
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Dealership Minds Summit 2017

[Video] Dealer-to-Dealer Panel: Bringing Discipline Into Your Valuation Process

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
Correctly valuing used equipment is Job 1, and while there’s no silver bullet, you can increase your odds and limit those deals where you’ve been “bitten too hard” by following a disciplined, data-backed approach. During this authoritative panel discussion, 3 experienced dealers from different regions of the U.S. share the process they use to determine the best value for used equipment to get it sold.
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Dealership Minds Summit 2017

[Video] Washout Model Planning to Control Used Inventory ... Before You Sell the First One

December 21, 2017 | Posted in Best Practices, Used Equipment Remarketing
Having spent his entire career in used equipment remarketing at 3 different dealer groups, and personally responsible for much of the industry’s sharing of best practices on the subject, Casey Seymour brings a unique viewpoint to the Dealership Minds Summit. Recognized as one of the best and most practical minds in the industry, he’s personally worked to instill inventory management controls and understanding of fundamentals for all dealers.
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Matt Miner

7 Tactics for Used Equipment Management

By Matt Miner posted on December 15, 2017 | Posted in Best Practices, Used Equipment Remarketing, Dealership Marketing
Used equipment inventory management is a phrase that can make even seasoned veterans in the equipment industry cringe. Why is that? All we need is the right equipment, at the right price, at the right place, at the right time. Nevertheless, much of the time inventory management remains one part art, two parts science and three parts aggravation!
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