By Casey Seymour — Posted in Used Equipment Marketing
The person managing the dealership’s used equipment must understand the local and national markets. They need to see trendlines develop and react to what they see proactively, not reactively.
They need to control the movement of machines from the sales mix to the used equipment and to the washout cycle. What needs to happen to the machines, and what can be influenced throughout the process?
They will need to understand how to use data to drive the decision-making process, and management needs to trust the data they are presented. Used equipment has many moving parts and they are easily seen and monitored if the used inventory managers are left alone to look, listen and make a decision.
Used Equipment Manager vs. Remarketing Manager
There is no right or wrong answer as to whether a used equipment manager or a remarketing manager is the right fit for your dealership, but it’s important to understand the two roles are different. You need to understand the needs of your dealership and the strengths and weaknesses of the person managing used inventory.
Used Equipment Manager
- Looks at the macro as much as micro.
- Guided by the sales mix, used equipment turn and washout cycle.
- Understands the ebbs and flow of the inventory.
- Follows retail, wholesale and auction trendlines.
- Data is their friend. They will understand what is happening and why.
- They will understand customer buying habits.
- They have no emotion, and data is the guiding light.
- They take the “Money Ball “ approach to inventory management.
Remarketing Manager
- The remarketing manager’s essential function is getting used equipment ready to sell.
- Has strong working relationships with independent wholesalers, inline and non-inline dealer and jockeys.
- Transactional selling beast. The remarketing manager should be in the top 5 in volume and margin of all sales reps in the dealership.