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Air Date: Thursday March 24, 2016
Featuring: Mike Nicholes
Program Length: 60 Minutes
How and Why to Adopt a Perpetual Inventory System and Process
Annual Physical Parts Inventories are usually a headache… but also help hide issues and problems that can be eliminated with a well thought out monthly inventory count and adjustment process.
The biggest problem with reliance on a typical periodic physical count, is that many times all you can determine is that somewhere during the year things went off track. The physical count can and typically does put you back on track… but often the root cause goes undiscovered or repaired.
Mike Nicholes suggests that a physical count and accounting adjustment process conducted throughout the year is a much preferred system and in fact, can make the annual physical count obsolete.
Join us as Mike outlines this process and how you can make it work in your dealership or group.