For most powersports/marine/RV brands, for the broad based products (not the niche ones) it’s not often that demand outstrips supply. It’s an even more unique situation for this to happen during a global crisis. We are in a new age.
Talking to dealers across the country, I’m finding that many of them are running out of certain segments of inventory. At this point, I always ask questions about what’s on order, what’s going to hit the ground in the next 30 days, and what are they doing with pricing.
As demand outstrips supply, prices should increase. This is not price gouging, it’s good business. Dealers need to stay on top of their inventory and orders. This means having a budget, tracking progress against said budget, and updating it monthly.
If you are just running your business off a gut feeling and not using data to manage your business, then you are falling behind. There are many systems out there to actively manage a business. If you aren’t using one, then now’s the time to make an early New Year’s resolution.
What are you doing to actively manage your inventory?
Adapt or die!
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