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
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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
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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 »
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
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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
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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
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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.
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In automotive repair operations – actions taken will result in reactions occurring. Like all people – employees will respond to incentives and avoid consequences. And actions taken to improve processes will result in greater throughput and higher business volume. Being cognizant of likely reactions resulting from different actions will ensure success in business. Following are
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Like all people – automotive repair personnel will respond to incentives and avoid consequences. Often compensation is incentive based with corresponding consequences for negative outcomes resulting from striving for goals. It’s always important that costs be considered when offering incentive based compensation as increased expenses can defeat the purpose of achieving higher sales volume. Following
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