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170 search results for: Profit


The Parts Business

In doing background work for my monthly CED column I noticed some interesting facts about Genuine Parts. Genuine Parts is the parent of NAPA the parts specialist in the automotive replacement business. From my perspective they also mirror the construction equipment marketplace. Over the past four years Genuine Parts has seen through 2008 and 2009 declines in […]


June Management Training

The Balanced Scorecard If you design your Dealership from the customer perspective you will win. In the management training we offer through Quest, Learning Centers, Inc. we offer varying levels of management development. In our Unit II classes for both Parts and Service we use the Balanced Scorecard as one of the main pillars of […]


Labor Efficiency

Service Departments the world over are concerned about efficiency and effectiveness. There is a very easy method in which we can measure and manage the labor we offer to the marketplace. There are two critical pieces of information from which we must start. The first is called Gross Profit Potential and the second is the […]


The New Reality

To properly address the New Reality we have to look backwards. From the 1960’s to 1980 management felt pretty good about things. Sales revenues had increased, profits were up, life was good. We thoguht we must be the greatest generation of business managers ever. But it was all inflation. When Paul Volcker and the Federal […]


Service Management – Unit I March 21st & 22nd, 2012

The “New” Quest Service Management – Unit I What it looks like when it is Right A more professional, productive and profitable Service Operation is necessary for the distributors in the Capitals Goods Industries to be successful. To assist in the development of this Service Management team we have designed a new series of training […]


Customer Retention

In the 1990’s, three professors, Sasser, Hesketh and Schlesinger from Harvard Business School wrote a book called “The Service Profit Chain.” It was for me the definitive book on customer retention. They posited that in the Industrial Distribution world if you increased customer retention by 5% you would increase the profitability of the business by […]


Market Share

If you had to choose between customer satisfaction and profitability, what would be your choice? I would take customer satisfaction as without satisfied customers the ability to make profit is going to have a short life.   How to measure customer satisfaction becomes the challenge. Some people define it as repeat business; others measure the […]