Magazine for the professional tire industry
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Inventory management but others in the organization that need to know about these new developments have not. It is important to present a clear message to all departments even if some have been involved with part of the decision making. Communication throughout the supply chain is critical on all new products. Buyer planners will need to know locations, SKUs and stocking levels. Forecasting will need to know all of that as well as market segment, competitors and customers. Warehouse staf will need to understand inventory levels for stocking and carrier considerations. Communication to the marketing staff is also critical, especially if you are adding a new product line or brand. Tey will need to know stock timing to plan the timing of potential promotional eforts. Tey also will need to know costs, SKU sizes and segment in order to determine market price and update catalogs, point-of-purchase materials and advertising content. Communication to fnance and accounting is also necessary. Te new forecast and pricing will require an update to fnancial projections and review of the credit limit. If there are special terms associated with stocking a new brand or tread, they will need to know that as well. Lastly, efective communication to the sales staf is vital. If you want your new products to be efective as soon as possible, it is not enough to merely email a new size list or have a 20-minute meeting over morning cofee. Adding a new tread or replacing an old tread is a major change for your staf and deserves much more atention. What you are aiming for is the ability to instill confdence. If the manufacturer ofers an online training module for a new tread, require that your staf complete it and reward them for doing so. Provide them with "cheat sheets" that simply explain the features and benefts, or compare the old tire to the new. Provide key ftments for the new sizes you are stocking so they can associate the new tire with a vehicle or customer. Ofer them bullet points on how the new tire compares with other brands' competing treads. Bring in the manufacturer rep for a training session or beter yet a ride-and-drive to experience Effectively communicating Effectively communicating data Effectively communicating data on new products to all new products to all products staff instills confdence and positively impacts sales. the product frst-hand. By laying the information on thick in the beginning you set your staf up to embrace the change and become efective much sooner. If you are only adding a few SKUs or expanding an existing tread, it is still important to communicate why you expanded the line. While such expansions don't generate the company-wide impact of a new tread, having more specifc discussions with Follow the leader on Facebook! Check out Modern Tire Dealer's Facebook page for news and photos you won't fnd anywhere else. Some examples: • Photos from the trade show foor at the 2013 Goodyear Dealer Conference • Photos from the Delphos, Ohio-based K&M; Tire Dealer Meeting • News about E15 gas and the impact on tire dealers • Links to studies —such as the Tire Retread and Repair Information Bureau (TRIB) and U.S. International Trade Commission (ITC) report on retreaded tires. See photos of new tires introduced to MTD editors at various ride-and-drive events held around the country. And be sure to "Like" us for continual updates! 52 MTD March 2013