Yearly inventory

[TOLPARTSMGR]

So I'm on Reynolds & Reynolds and I know I'll receive some info on what reports to run and that kind of stuff but any pointers on getting through my first inventory as parts manager this year? We've been doing perpetuals all year long but I find my self still finding errors sometimes with quantitys on hand. So long story short any of you guys that have been through multiple yearly inventories got any pointers for a newbie manager?

[Mike Nicholes]

Doing a perpetual inventory is good. Are your adjustments within 1-2% of what you expect. There is another half to doing a perpetual and that is to a reconciliation of the the G/L to your System inventory. you can get the instructions for this, at no cost or obligation, at www.partsconsulting.com; go to the downloads and get the reconciliation forms and the key to the reconciliation forms. This, in addition to the perpetual, should let you know fairly close how the annual will come up. Are you using an outside source for your annual?

good luck, Mike Nicholes

[JMShocker2010]

Bin counts, Running a report of parts with no Bin, cost, or list, and when we order a part that's never been in inventory it defaults to bin SPO so run the report for parts in bin SPO make sure its correct. make sure you know where any aftermarket parts or stuff in inventory is. make sure you have as many invoices up to date and posted, and make sure you have the ones that have not been posted yet. try to get all the credit slips you have coming and get them posted. and have all the slips for credits that the company has not sent you yet and how much the credit is. and know where all your cores you still have are and how much they are.

[bobdavis2010]

Hi all, will anybody share with me previous inventory data that you put together on s spread sheet thanks

[Mike Nicholes]

Bobdavis2010; go to www.partsconsulting.com, downloads, and download the checklist and the key to the checklist. This will give you a pretty good and comprehensive set of numbers by which a parts inventory can be analyzed and controlled.

Mike Nicholes