By Truck Parts & Service Staff
Parts for Trucks answers by Paul Raymond
WHY DID YOU START THE BUSINESS?
The business was founded in 1919 under the name Scotia Equipment. Phil Raymond joined the company in 1963 and bought it in 1976. Paul and Andy Raymond (Phil’s sons) have worked for the company for approximately 30 years and have been owners since 1996.
In 1976, the company had just one location in Dartmouth, Nova Scotia. Since that time we have experienced a steady and impressive growth in facilities and the range and depth of products and services offered to our customers. The largest store and head office in Dartmouth have been expanded several times and 14 additional branch locations have been opened, creating the largest network in our area which covers all four provinces of Atlantic Canada (the area east of Maine and Québec).
In 2008 Parts for Trucks opened a PDC warehouse dedicated to replenishing inventory to our branch locations. All expansion has been organic and none by acquisition.
In 1987 the company changed its name to Parts for Trucks to better reflect our business model. We are proud of the fact that throughout our 90-year history we have expanded our ability to offer service to our customers and grown career opportunities for our employees.
WHAT’S BEEN YOUR TOUGHEST BUSINESS DECISION?
Changing computer software in 1994. We were trying to implement a new computer software system that was not working out to be what we had expected. After spending a few months and several dollars, we made the decision to cancel our contract, renew evaluations and start over with a different software company. It proved to be the right decision. The new software, SX.enterprise from Infor, has been a key part of our business success and is still our enterprise software system today after 15 years.
WHAT WAS YOUR BEST BUSINESS DECISION?
Adopting the name Parts for Trucks, which we introduced in 1983 and converted to our corporate name in 1987. Concurrent with this change, we modernized our store layout and featured an “open bin” display concept. We also developed a comprehensive product offering to create a “one stop” marketing strategy. Since this time, we have successfully branded the concept along with the Parts for Trucks name in our marketplace.
WHAT WAS YOUR WORST BUSINESS DECISION?
Like most companies, there have been various decisions on products, market approaches and credit that in retrospect we would have done differently. We have always been able to manage these results and learn from our mistakes. In the absence of any acquisitions or radical new product ventures we have also avoided potential for major or costly mistakes.
WHAT IS THE BEST WAY TO KEEP A COMPETITIVE EDGE?
Listen to our customers. Listen to our staff. Be aware of change and be ready to react quickly if needed. Have the confidence to invest in our facilities, IT systems, training, staff and inventory. Seize opportunities as they arise.
WHAT IS YOUR FIVE-YEAR VISION?
Continuous improvement: To be better every year in what we can deliver to our customers.
WHAT IS YOUR BUSINESS PHILOSOPHY?
We try to put our people in a position where they get to do a lot of what they really do well, and we recognize their success. Our administration is centralized, but we retain local management.
We have developed a diversified customer base and a comprehensive and wide-ranging product line.
WHAT IS THE BIGGEST CHALLENGE FACING THE AFTERMARKET?
Changing supply lines and increased competition from OE dealer networks and national chains.
Consolidation of established manufacturers leaves us with fewer vendor options to meet competitive pressures. Off-shore components may present opportunities, but the challenge for us is to retain our customers’ trust by distinguishing the good from the bad.
HOW DO YOU SEE THAT CHALLENEGE BEING RESOLVED?
Active participation with VIPAR, our marketing group partner (we are a founding shareholder). VIPAR can provide programs that would be much harder to negotiate on our own and can source and verify alternate lines. Our new PDC gives us flexibility to buy in larger quantities when appropriate. Building partnerships with our suppliers and participation on their Distributor Advisory Councils [DACs] is essential.
DURING YOUR TIME IN THE INDUSTRY, WHAT HAS BEEN THE MOST SIGNIFICANT CHANGE?
There are a few. Consolidation of vendors, customers and other WDs is one. Technology, both vehicle technology and information technology, is another. An ability to learn this new technology is a key requirement for people in our industry. The last one is the speed of communication. Today we deal with online inventory processing, e-mail, cell phones and Web sites, and everyone expects immediate responses.
WHAT ADVICE WOULD YOU GIVE A YOUNG PERSON CONSIDERING A CAREER IN THE AFTERMARKET?
Pick a good company, and grow with them. There are lots of opportunities for someone who makes an effort to improve. Be ambitious. Yes, time must be spent “paying your dues,” but the experience will be beneficial for your entire career.
HOW DOES YOUR BUSINESS CONTRIBUTE TO THE COMMUNITY?
We have a long history of active participation in trade associations, both regional and national. We support numerous local youth sports teams and charities. And we are locally owned and managed.
WHAT MOTIVATES YOU EVERY DAY?
Change: If everything stayed the same, it wouldn’t be a challenge.
People: Our customers and our staff work hard and contribute to the economy in very real and genuine ways. It is gratifying to work among people who appreciate dedication and an honest day’s work.
