DealersEdge Professional Forums

I'd like to get some input on how your dealers reconcile their monthly and annual inventory for parts.

I've been told that it is truly possible to balance to the penny on a monthly basis and the same with the annual physical inventory.

I've been with my current dealer group for 8 years and have never once met with our controller for a monthly or annual inventory rec.

Any thoughts, ideas, input etc. etc.

We have 5 dealerships with 5 parts depts....Each month, the parts mgrs must submit a reconciliation. We all worked very long and very hard to get to where we are today, and last month, we were within a .04% (yes, point-oh-four percent) margin. We had been told by ADP and Reynolds both that 5% margin of error is acceptable. Not with $1m of inventory! We do have a very detailed procedure: spreadsheets, timelines, etc., and it does take both the parts mgr,controller/office mgr, and yes, even a little help from the service mgr, working together - it's not the responsibility of just one mgr. If you are interested, I can forward our procedures, but it's not for the faint-hearted. It's pretty detailed, but now that we do it all the time, it's not such a big deal. And the kudos from the dealer are WELL worth the trouble.

From DealersEdge- We have copies of helpers1's procedures and will arrange to have them in the "Free Stuff" file on the DealersEdge Home page- no later than Monday. We feared helpers1 was being a little overwhelmed by your interest.
Jim Muntz/DealersEdge

[This message has been edited by jimmuntz (edited 05-04-2006).]

helpers1


I'LL TAKE A COPY PLEASE

Thanks

Jim

jimt01 - you should have it shortly

Helpers1,

May I please have a copy also?

Thank you,
davenutting@murphycadillac.com

Never let it be said you can't teach this old dog some new tricks. I'd like a copy as well. Thanks!!

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helpers1 would you please forward a copy to me too? slilly01@royalautos.com

You should all receive this shortly - I'd be interested to know if these procedures assist you, and if you see something I've missed, please let me know so I can update our master file. Good luck!

Thanks for the response and the offer. I'll take a copy of your procedures. You can send them to
pat.land@billjacobs.com

Thanks again.

Please forward me a copy also.

Thanks