Annual Inventory

[PartsPlant81]

How has everybody's annual inventory been?

Just had mine on Saturday and I have to brag a moment. When I took over my current position in July of 2012 our inventory that November had 75 discrepancies on the variance report. My team and I worked to get it cleaner and cleaner every year until we finally got it to a single digit 8 discrepancies! For a 2900 part number 14,000 piece (including oil/etc.) $200K inventory I think that is a pretty good feat.

I hope you all have a great holiday and successful inventory.

Cheers!

[Zep33]

That's awesome!! Great job!!

Last year, I was off by $75. but quite a few variances. Hope to fix that this year but I have a couple consignment cabinets at wholesale locations so those will probably all be variances unless I can just get the inventory company to add them in to the regular count

[Fixed Ops Mgr]

Congrats! That is an excellent job of keeping everything clean and current and it is always good to be able to look at yourself and your dept.
and know that you have done a good job because in this day and age so few in upper management recognize the parts dept. for the work that
it does and it is the true dealers cash cow.
My inventory comes up in February so I hope mine gets better this year to. Last year I was off 145.00 on a 225,000 inventory, I had a lot
of variances causing the problem.

I also would like to add: Thank you to all user on this forum because we all keep helping each other survive.
Everyone have a safe and happy holiday season.

[Bearster18]

Mine came out good here as well. On the plus side by about $400 on a 97k inventory. I started down here in August of 2016 with terribly unorganized parts department sitting around $140k in parts with last years inventory being in the negative 3k during that annual. That wasn't held against me as I was only here 2 months. In just over a year I've been able to bring the inventory down to 97k and keep everyone thrilled. My first rim return that I got to do was 19,500 dollars due to previous part's manager never wanting to do it. It's been a pretty good year inventory wise. Sales are drastically down due to the bigger dealers around offering better discounts than I can muster with a mom/pop type dealership. However, shrinking this inventory and ridding it of all the OLD parts is a major step in right direction.

[Parts007]

That's awesome!! Great job!!

but I have a couple consignment cabinets at wholesale locations

Zep33, would you care to explain what parts you have at wholesale locations? thanks

[Zep33]

At one location, they have cabin, air and oil filters and coolant

At the other he has cabin, air, oil, spark plugs, a couple ignition coils, a few sets of brake pads, gas caps and PCV valves and coolant

It's been working out quite well for the one with more stuff while the other guy just started doing it a few weeks ago.

I drive over every few weeks to see what they've used, bill and restock.

I'm having both tear the tabs off the box of what they use and put in a box to make it easier to keep track of what they use

Any questions, feel free to PM me

[FixedManager]

Are you quoting on-hand variance or GL to PAD variance?

[PartsPlant81]

On hand variance. GL to Pad variance has always been on the plus side since I have been here as well...

[LOKI1]

Are you quoting on-hand variance or GL to PAD variance?

I can never get that close myself. I try to be as conservative as possible during inventory. We are around 400,000 and I was a little over 1% above the GL figure.

[vwgti_15]

Finished our inventory earlier this month. Finished with a little over $300 plus on a $175k inventory with Nissan and VW. I would say went very well given the fact of taking over for the department back in April with an original difference of $20k. Good luck to those with their inventories and congrats on all others good turn out.