When the demand for goods and services exceeds supply, higher prices result. This is referred to as ‘demand-pull inflation’. There are a number of factors that can contribute to an increase in demand. This writing is intended to focus on government actions that affect the amount of money available thus increasing or decreasing demand: Government
Demand-Pull Inflation Read More »
Each month the Bureau of Labor Statistics (BLS) reports the Consumer Price Index (CPI) which is also referred to as the rate of inflation. The reason this is done by the BLS is primarily to determine the change in the cost of living. Following are descriptions of some of the terms used in discussions on
Price Index Measurements Read More »
FastTrak Auto Shop Repair Order Software supports business efforts by improving efficiency in all phases of auto repair operations. Comprehensive support for the many possible phases in the repair cycle are geared toward improving throughput by streamlining processes and eliminating redundancy and unnecessary steps. Following are some of the ways that FastTrak improves operational efficiency:
How FastTrak Auto Shop Repair Order Software Increases Shop Efficiency Read More »
FastTrak Tire Shop Management Software is the best tire shop software for most businesses as it’s easy to use, offers a feature-rich solution, includes extensive integration capabilities and is competitively priced. FastTrak provides many benefits to tire shop operations as optimal customer service is supported and operational efficiencies are realized. Following are some of the
The Benefits of Using FastTrak Tire Shop Management Software Read More »
Establishing controls in automotive repair shop processes can be a significant factor in business success. Any business has the potential for losses to be incurred where there are openings in established practices. Making controls an integral part of business process design will have a significant impact on avoiding this kind of problem. Following are areas
Controls In Automotive Repair Shops Read More »
Controls on repair order parts can go a long way toward reducing shrinkage. Purchase and return transactions as well as issues to repair orders should be tracked and controlled by recording them in the repair shop software in use. Sometimes shops will process inventory without recording transactions and this leaves them open to losses. Recording
Part Sales and Cost Controls in Automotive Repair Read More »
Labor is an area where losses can be incurred when invoices are paid in cash by the customer. Some methods of paying technicians have built in controls while there are some circumstances where shops are open to loss. The most effective control on labor sales is paying technicians based on the number of hours sold
Labor Sales and Cost Controls in Auto Repair Read More »
For shops that carry inventory this can be an area where losses can easily occur. If replacement parts are carried in inventory or tires are bought in bulk then sold off the shelf – this is an area where shrinkage can occur. Shrinkage isn’t necessarily always caused by theft. Sometimes mistakes will occur resulting in
Inventory Controls in Automotive Repair Read More »
Assigning responsibility for functions that can leave a shop open to problems can be a very effective management practice. Of course – shops often don’t have the personnel to do this – but these are good practices where they can be applied. Allowing too much control in the hands of one person can be problematic.
Separation of Responsibility in Automotive Repair Read More »
The old scientific adage “for every action there is an equal and opposite reaction” applies in business as well. In automotive repair marketing, sales and operations – actions taken will elicit results. Marketing actions can result in more business opportunities, sales related actions can increase business volume and operational actions can improve productivity thus stimulating
Actions and Reactions in Automotive Repair Read More »
