Aged Inventory Challenges & Data Utilization | George Keen

In this episode, the second in a series of three interview videos, Andy Campbell and guest George Keen discuss strategies for equipment dealerships to leverage data for improved sales and inventory management. They explore the importance of understanding customer purchase cycles, critical performance metrics, and the challenges of managing aged inventory.

The conversation also highlights cash flow management strategies, the significance of service departments, and the potential of rental opportunities in maximizing dealership profitability.

Chapters

• Using Historical Purchase Data to Inform Sales 02:36
• Prioritizing Large Accounts Based on Equipment & Acreage 06:20
• Five Critical Variables for Dealership Performance 10:15
• Aged Inventory: Causes, Psychology & Liquidation Strategy 14:49
• Smarter Parts Inventory Management and Transfers 23:40
• Cash Flow Solutions: Service Department & Rental Opportunities 31:48
• Rental Strategy: Attachments, ROI, and Customer Value 36:43

Key Takeaways

• Data is crucial for making smarter sales and inventory decisions.
• Understanding customer purchase cycles can drive sales strategies.
• Critical metrics include market share, financial performance, and customer satisfaction.
• Service departments can significantly boost profitability, while rental opportunities can optimize idle equipment.
• Effective inventory management requires a structured approach to data.

This episode's guest

As Principal Consultant at Wise Wolf Consulting, George Keen has long been a distinguished authority in the equipment dealership sector, bringing over 45 years of experience across agricultural, construction, material handling, and power systems industries to assist dealerships improve their sales and inventory operations. His multifaceted career includes a decade with a John Deere Ag dealership and a forklift dealership, 15 years at Currie Management Consultants, and 10 years in software development for the lift truck industry. At Wise Wolf Consulting, George specializes in strategic planning, financial modeling, and performance benchmarking, helping dealerships enhance profitability and operational efficiency.

Keen is also the author of two influential books: Sales Management in an Equipment Dealership and Service Management in an Equipment Dealership, which both serve as comprehensive guides for optimizing dealership operations. His insights have been featured in industry publications like Farm Equipment, and he is a sought-after speaker at events such as the 2025 Dealership Minds Summit. George's commitment to excellence and innovation continues to shape the future of equipment dealerships worldwide.