Let’s face it, inventory turnover has been a problem for us all over the last few years. As the market changed, it’s been difficult to make adjustments to how we stock new machines and how we buy used machines as fast as the market moved. This has created a turnover problem that’s plagued North American farm equipment dealers everywhere. You are not alone.
This executive shares his approach to teaching employees throughout the dealership the importance of leverage and turnover, the guard rails for keeping the balance sheet — and dealership — on track.
Financial metrics don’t drive our business, but they are a set of guardrails to keep us from running our business off the cliff. And in a cyclical business, when the business goes up and down, it’s easy for those ratios and metrics to get out of kilter.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take a look at the preliminary results of the 2024 Ag Equipment Intelligence Outlook & Trends report.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.