It’s that time of year again, when your dealer principal or CPA requires a “firm” parts inventory count for tax and factory filing purposes. If you dread the event, you’re not alone. But it doesn’t have to be that hard. If you put several steps in place throughout the year to improve consistency and better secure your parts asset, you will minimize variances, risk of theft, and dread of the annual inventory. Industry consultant Mike Nicholes recommends every dealership put three steps in place to ensure a smoother annual parts inventory.
