Reynolds & Reynolds

Keep Your Parts Inventory Accurate

Have you considered how to keep your parts inventory accurate throughout the year? Here are a few tips to help:

CONDUCT PERPETUAL

INVENTORIES Perpetual inventories give you a much better chance to identify discrepancies, correct them variances during your next physical inventory. During idle time in the parts department, assign each counterperson a few bins to count weekly and update the inaccuracies immediately. Consider Scanners to speed up the process and increase accuracy. MONITOR PARTS IN

YOUR SPECIAL ORDER BINS Identify special order parts that have not been picked up within 15 days of being received and notify the customer or service advisor once more. If the parts still aren’t picked up within 30 days, return them to the OEM, place them in stock, or get rid of them. This will keep your special order bins free obsolescense. EVALUATE DIRTY

CORE INVENTORY Maintaining an accurate record of customer-returned cores and promptly returning them to the supplier is important. It ensures the inventory value is up-to-date for both Parts and Accounting. Plus, physically removing them allows you to make better use of vital space in your department.

Follow these guidelines consistently throughout the year to keep your inventory accurate and make your next annual physical inventory audit less stressful. Work smarter, not harder.

To see how Reynolds and Reynolds can help visit reyrey.com/parts-barcoding.