Iron Management
This is a holistic approach showing how each department contributes to successful used inventory control, increasing profitability and improving cash flow.

This is a holistic approach showing how each department contributes to successful used inventory control, increasing profitability and improving cash flow. We encourage participation from your organization key leaders and staff, including: Branch Managers, Sales Managers, Controllers, Aftermarket Managers, Sales People and Senior Management. We deliver the material in two separate modules, each module providing two days of training. We recommend a minimum of thirty days, maximum of 60 days between modules, to ensure participants have appropriate time to apply learned practices before beginning their next module.  This course will be held in Denver, Colorado.

Total
$1,875
SKU: US-CS-IM Categories: ,

Description

This is a holistic approach showing how each department contributes to successful used inventory control, increasing profitability and improving cash flow. We encourage participation from your organization key leaders and staff, including: Branch Managers, Sales Managers, Controllers, Aftermarket Managers, Sales People and Senior Management. We deliver the material in two separate modules, each module providing two days of training. We recommend a minimum of thirty days, maximum of 60 days between modules, to ensure participants have appropriate time to apply learned practices before beginning their next module.  This course will be held in Denver, Colorado.

Details

MODULE 1:

Changing Used Iron Culture

December 14, 2017 8:00am - December 15, 2017 12:00pm 2017-12-14 08:00:00 2017-12-15 12:00:00 America/Chicago Changing Used Iron Culture Location Dealer Institute info@dealerinstitute.org Used Iron Forecasting
  • Changing a Concept
  • Setting Proper Goals
  • Understanding Trade Cycles
KPI’s and Cash Flow Metrics
  • Dashboards and Report Cards
  • Negative Cash Flow
  • The Great Battle
Management’s Role in Asset Management
  • Role Definition
  • GIG ICE T
  • The 4 M’s

MODULE 2:

Buying, Managing & Marketing Used Iron

February 13, 2018 8:00am - February 14, 2018 12:00pm 2018-02-13 08:00:00 2018-02-14 12:00:00 America/Chicago Buying, Managing & Marketing Used Iron Location Dealer Institute Buying Used Right
  • Appraisal
  • Evaluation
Alternate Marketing Strategies
  • Conventional
  • Unconventional
Used Iron Recovery
  • Band-Aids
  • Actions to Move
  • Mistaking Mistakes for Failure
Behaviors & Tools that Drive Success
  • Honesty Meetings
  • Key Account Management
  • Creative Selling
Short-line Management
  • Terms
  • Aftermarket
  • Three Year Rule

FAQs

What is the Iron Management course?
The Iron Management course is a holistic strategic approach to inventory management with a heavy emphasis on used equipment.

What does holistically manage used equipment mean?
Holistically managing used equipment means each department is actively involved in used equipment control.

Who should attend an Iron Management course?
Recommended attendees are dealer principals, general managers, branch managers, sales managers, controllers, sales personnel and other key dealership leaders. While any of these roles in the dealership may attend, we know that is unlikely that every role will do so. Pairing all personnel who touch the whole-goods transaction in this learning track will allow them to work together and have a higher chance of developing executable solutions once returning to their dealership.

How long is the Iron Management course?
The Iron Management course is two two-day modules. It will follow the same daily format of our other courses. Day One from 8 a.m. to 5 p.m. and Day Two from 8 a.m. to noon.

What is the expected result of the Iron Management course?
The expected result of the Iron Management course is to help dealers more effectively manage used equipment. Its purpose is to help dealers change the way dealerships buy, manage and market their used equipment.

How will dealers track the progression of their participants through the course?
We developed an accountability tool called a PIP or Personal Improvement Plan, which will be used throughout each module of every course to ensure consistency for participants and their supervisors. The PIP is a living document that grows with each participant as they move through the course, creating a clear path to success.

What is the price?
Iron Management consists of two, two day modules. The investment for a public offering of this course is US$1,875.00 USD / $2,495.00 CAD per participant. This includes all four days of training, materials, personal improvement plan, lunch and refreshments throughout each module.

Instructors

Trent Hummel is a 4th generation equipment dealer from Alberta.  Growing up in a dealership owned by his family, Trent’s dealership experience began at a young age.  Before long, he became a key contributor to dealership profitability, in an area dominated by competitors.

In 2001, Trent acquired a dealership in Red Deer, Alberta.  His wholegood asset management and progressive procedural systems provided results far exceeding industry goals and benchmarks. As business grew, he added a minority partner and expanded into a new facility. Under his leadership, the dealership consistently maintained new and used equipment turns five to ten times industry averages and three times the industry benchmark.

 

In 2010, Trent sold the dealership and began helping other dealers through training and consulting.  He designs and delivers curriculum-based training, onsite consulting services, and facilitates 20 Group meetings.  His experience, expertise and passion for new and used wholegood asset management has positioned him as one of North America’s strongest and most innovative voices in dealership inventory management.

 

In March 2015, Trent joined WEDA’s Dealer Institute as a core trainer, delivering exceptional training and consulting services throughout North America.

Testimonials

This has been one of the best courses that I have been to. Smaller groups, more questions and answers, and interaction of students is very helpful.
— Mark A. Dotson, Kansas City Class of January 2016

Addressed the needs of our dealership & functions from a different perspective. It also gave me questions I need to be asking to improve my job performance & enhance how my department strengthens the company.
— Maranda Mettry, Kansas City Class of January 2016

Excellent at promoting change in personnel.— Shawn Skaggs, Kansas City Class of January 2016