{"id":60028,"date":"2022-08-01T09:00:08","date_gmt":"2022-08-01T09:00:08","guid":{"rendered":"https:\/\/revolutionparts.flywheelstaging.com\/?p=60028"},"modified":"2022-07-26T00:00:13","modified_gmt":"2022-07-26T00:00:13","slug":"webinar-strategies-for-managing-and-preventing-obsolescence","status":"publish","type":"post","link":"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/","title":{"rendered":"[WEBINAR] Strategies for Managing and Preventing Obsolescence"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><span style=\"font-weight: 400;\">Parts departments dealing with high obsolescence need tools and tactics to help them reduce obsolescence fast while preventing it from building up in the future. Recently, we sat down and talked to Kaylie Felio from <\/span><a href=\"https:\/\/www.partsedge.com\/\"><span style=\"font-weight: 400;\">Parts Edge<\/span><\/a><span style=\"font-weight: 400;\"> about the best strategies for managing and preventing obsolescence at the dealership.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<h3 style=\"text-align: center;\"><strong>\u00a0Watch the Webinar Below!<\/strong><\/h3>\n<p>[\/et_pb_text][et_pb_code _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\"><iframe loading=\"lazy\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/fl76pckkto?videoFoam=true\" title=\"Managing Obsolescence in Your Parts Department Video\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"100%\" height=\"100%\"><\/iframe><\/div>\n<\/div>\n<p><!-- [et_pb_line_break_holder] --><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>[\/et_pb_code][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>&nbsp;<\/p>\n<h3><b>What Is Obsolescence?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Obsolescence is an accumulation of aging and older auto parts that are typically harder to sell. Parts that have remained in stock between 7-12 months (or longer) are typically categorized as obsolete parts.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>What Causes Obsolescence?\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">High parts obsolescence can be caused by:<\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">High return rates due to order errors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Inventory errors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Special order parts that are never picked up<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Over ordering and reaction management<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of knowledge of existing inventory<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3><b>Strategies to Prevent Obsolescence<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Preventing an accumulation of obsolete parts starts with developing and improving processes. There are four main strategies that parts departments can use to their advantage. <\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><strong>Developing Better Processes for Special Order Parts:<\/strong> Put processes in place to secure payments and limit returns on special order parts. Build out reports and follow-up with customers.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><strong>Improving Consumer Communication:<\/strong> Define your return policies clearly and communicate them with customers. Follow-up with customers to ensure the right parts are ordered.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><strong>Improving Inventory Management:<\/strong> Know the age of your inventory. Determine what you need, what you don\u2019t need, what you can send back to the manufacturer, and reduce reactive ordering. <\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"><strong>Forecasting Obsolescence and Knowing When to Discount:<\/strong> Determine the lifecycle of parts and identify larger obsolete parts volumes to be set at lower, discounted prices when necessary.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; custom_margin=&#8221;||0px||false|false&#8221; custom_padding=&#8221;||0px||false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3 style=\"text-align: center;\"><strong>What Dealers Are Doing About Obsolescence<\/strong><\/h3>\n<p>[\/et_pb_text][et_pb_image src=&#8221;https:\/\/www.revolutionparts.com\/wp-content\/uploads\/obsolescence-dealer-stats.png&#8221; title_text=&#8221;obsolescence-dealer-stats&#8221; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3><b>Forecasting Obsolescence as a Key Inventory Management Component<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Forecasting obsolescence starts with identifying what you currently have. If you have a large number of parts that qualify within that 7-12 month no-sale period, these parts are ideal for selling in larger volumes online. In fact, these parts have around a 95% chance of selling online compared to selling in-store.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Identify what parts can be sold at a lower price online. Identify what parts sell best among your online customers and if they qualify for discounted rates from your manufacturer. You can then use that information to help increase sales of obsolete parts and reduce overhead costs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<h3><b>How to Sell Obsolete Parts<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Selling obsolete parts has traditionally been a hassle.\u00a0<\/span><\/p>\n<h3><\/h3>\n<p><span style=\"font-weight: 400;\">Old tactics like\u2026<\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Partnering with resellers\/brokers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Write offs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Simply ignoring it<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"padding-left: 80px;\"><span style=\"font-weight: 400;\">\u2026may not be the most profitable options.<\/span><\/p>\n<p style=\"padding-left: 120px;\"><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, new tactics like&#8230;<\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;|||43px|false|false&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Selling through a parts web store<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Selling on multiple marketplaces (i.e., Amazon &amp; eBay)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Using digital parts marketing<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">\u2026can help you effectively sell obsolete parts.<\/span><\/p>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\"><\/span><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; header_3_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">Interested in learning how to turn high obsolescence into revenue? Download our free guide, \u201c<\/span><a href=\"https:\/\/www.revolutionparts.com\/ebook\/turn-obsolescence-into-revenue\/?utm_medium=revparts&amp;utm_source=mkt:%20blog&amp;utm_campaign=sell-obsolete-inventory&amp;utm_content=managing-obsolescence-in-the-parts-department\"><b>Turn Obsolescence Into Revenue With Parts eCommerce<\/b><\/a><span style=\"font-weight: 400;\">,\u201d for more information. <\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Parts departments dealing with high obsolescence need tools and tactics to help them reduce obsolescence fast while preventing it from building up in the future. Recently, we sat down and talked to Kaylie Felio from Parts Edge about the best strategies for managing and preventing obsolescence at the dealership.\u00a0 \u00a0Watch the Webinar Below!&nbsp; What Is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":60036,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[21,63],"tags":[129,154,131,153],"class_list":["post-60028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-grow-online-part-sales","tag-obsolescence","tag-obsolete-inventory","tag-selling-parts-online","tag-webinar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[WEBINAR] Strategies for Managing and Preventing Obsolescence - RevolutionParts - Sell Parts and Accessories<\/title>\n<meta name=\"description\" content=\"When idle parts sit on your shelves, they take up space and waste money. Learn how you can reduce obsolescence in your parts department.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[WEBINAR] Strategies for Managing and Preventing Obsolescence - RevolutionParts - Sell Parts and Accessories\" \/>\n<meta property=\"og:description\" content=\"When idle parts sit on your shelves, they take up space and waste money. Learn how you can reduce obsolescence in your parts department.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\" \/>\n<meta property=\"og:site_name\" content=\"RevolutionParts - Sell Parts and Accessories\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RevolutionParts\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-01T09:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-26T00:00:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.revolutionparts.com\/wp-content\/uploads\/obsolescence-in-the-parts-department-blog.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"424\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"danderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@revolutionparts\" \/>\n<meta name=\"twitter:site\" content=\"@revolutionparts\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"danderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\"},\"author\":{\"name\":\"danderson\",\"@id\":\"https:\/\/www.revolutionparts.com\/#\/schema\/person\/10822f04f517b718c8901a3f23be15d8\"},\"headline\":\"[WEBINAR] Strategies for Managing and Preventing Obsolescence\",\"datePublished\":\"2022-08-01T09:00:08+00:00\",\"dateModified\":\"2022-07-26T00:00:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\"},\"wordCount\":865,\"publisher\":{\"@id\":\"https:\/\/www.revolutionparts.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.revolutionparts.com\/wp-content\/uploads\/obsolescence-in-the-parts-department-blog.png\",\"keywords\":[\"obsolescence\",\"obsolete inventory\",\"selling parts online\",\"webinar\"],\"articleSection\":[\"Blog\",\"Grow Online Part Sales\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\",\"url\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/\",\"name\":\"[WEBINAR] Strategies for Managing and Preventing Obsolescence - RevolutionParts - Sell Parts and Accessories\",\"isPartOf\":{\"@id\":\"https:\/\/www.revolutionparts.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.revolutionparts.com\/blog\/webinar-strategies-for-managing-and-preventing-obsolescence\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.revolutionparts.com\/wp-content\/uploads\/obsolescence-in-the-parts-department-blog.png\",\"datePublished\":\"2022-08-01T09:00:08+00:00\",\"dateModified\":\"2022-07-26T00:00:13+00:00\",\"description\":\"When idle parts sit on your shelves, they take up space and waste money. 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