Monthly and annual parts rec.

kcjones · Post by **kcjones** » Fri Apr 28, 2006 9:18 am

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.

helpers1 · Post by **helpers1** » Mon May 01, 2006 2:25 pm

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).]

jimt01 · Post by **jimt01** » Mon May 01, 2006 3:09 pm

helpers1

I'LL TAKE A COPY PLEASE

Thanks

Jim

helpers1 · Post by **helpers1** » Mon May 01, 2006 5:43 pm

jimt01 - you should have it shortly

DaveinFL · Post by **DaveinFL** » Tue May 02, 2006 7:15 am

Helpers1,

May I please have a copy also?

Thank you,
davenutting@murphycadillac.com

homesleym · Post by **homesleym** » Tue May 02, 2006 7:46 am

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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slilly01 · Post by **slilly01** » Tue May 02, 2006 7:58 am

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

helpers1 · Post by **helpers1** » Tue May 02, 2006 8:31 am

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!

kcjones · Post by **kcjones** » Tue May 02, 2006 10:11 am

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.

kevink · Post by **kevink** » Tue May 02, 2006 10:40 am

Please forward me a copy also.

Thanks