Outdoor Power Equipment

March 2018

Proudly serving the industry for which it was named for more than 50 years, Outdoor Power Equipment provides dealers who sell and service outdoor power equipment with valuable information to succeed in a competitive market.

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28 MARCH 2018 OUTDOOR POWER EQUIPMENT www.outdoorpowerequipment.com SPECIAL FEATURE O ne of the biggest factors impacting your success — especially as you head into the busy season — is the inventory you carry. According to Mike Horak, head of Outdoor Products Group with Wells Fargo Commercial Distribution Finance (CDF), the ultimate question to ask when contemplating the right mix and quantity of inventory to carry for your dealership is simply "what products best meet the needs of my customers?" To answer this question, you must truly understand your local market and target customer. Successful dealers meet the needs of their primary customers by carrying a diversified product line that captures the price point of their customers. It rarely pays off to stock product, regardless of the discount received from your OEM partner, if you are not an expert on the product or it hasn't traditionally been sought after in your market. Turning inventory more than 2.5 times should be the primary focus. What to stock and how many lines to carry When it comes to deciding what lines to carry or how many lines to carry, Horak recommends aligning yourself with reputable manufacturers and distributors that can meet peak-season stocking requirements, and can also be responsive to your parts and service needs. Inventory Insight Preparation and planning, as well as pitfalls to avoid IMAGE @ISTOCKPHOTO.COM/PALTO

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