LKQ & US Auto Recycling: Salvage Operations
Former Operations Manager at LKQ
inpractise.com/articles/lkq-salvage-ops
LKQ & US Auto Recycling: Salvage Operations(June 1, 2024)
Former Operations Manager at LKQ
The expert is a former Operations Manager at LKQ Corp, a global provider of aftermarket and salvage automotive parts. During his tenure, he oversaw production, ensured inventory accuracy, managed parts distribution, and was a key player in the company's salvage operations. The expert was also instrumental in the integration of the Keystone brand into LKQ.
Interview Transcript
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How often would you be wrong about this number, the $1,800? So you bid $1,200 based on it, but how often and how far off were you from this number?
Initially, when we had people on the ground at the auctions, we did really well. As we transitioned to relying more on online photos, we were still profitable, but we encountered more missed opportunities. For instance, someone might see a photo, bid on the car, and then upon actual inspection on-site, we'd find the parts they bid on were no good. Another issue that arose towards the end, which affected our profitability, involved bidding on suspension components. Being in the Rust Belt, where cars often rust due to rock salt on the roads, these components would often be completely rusted, even on cars only five years old. So, they would bid on these cars without being able to see underneath at the auction, thinking they could make $1,000 off the suspension, only to find it was all junk and we had to delete a lot of inventory.
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