Parts Inventory Control

Why is it so important to monitor the inventory of the parts department? Parts inventory affects not only the profitability of the dealership, but also return on assets. During this workshop, we will discuss the effects of inventory surplus and how to maximize parts turns. You will learn methods for maintaining appropriate inventory levels and disposing of aging inventory.

Specific topics covered include:

• Benchmarks for Inventory Turns
• Setting Appropriate Inventory Levels
• Disposing of Aging Inventory
• Inventory Tracking and Management
• The Impact of Inventory on the Balance Sheet
• Customer Fill Rates
• Service Department Stock Fill Expectations
• Segmenting Parts Inventory for Inventory Turns and Fill Rates

Who should attend: This course is recommended for parts and operations managers in the dealership. Managers of other departments who want to understand how the departments are interrelated will find it beneficial. Bringing your department’s aging inventory list, inventory sales in descending sequence, and customer sales in descending sequence will help you apply the concepts to your situation immediately.

Course Level: Skill Building
Length: 1 day
Class Size: Maximum of 25