Mike's Inventory Management Blog

Inventory counts are an important part of managing your automotive parts inventory for many reasons. It helps …

1. Minimize theft 
2. Identify obsolescence 
3. Determine the turnover of each SKU 
4. Ensure your records are up to date

When you can, you should try to do multiple counts per year, even if you’re just focusing on the items that cause you the most grief. But if you do decide to only do one, it should be at year end. And that’s because the year-end inventory is what gets your records ready for tax season.

Are recurring discrepancies a problem for your automotive parts inventory? It’s a problem many Parts Departments must deal with. Luckily, there is an easy way to improve …

When you do a good job managing your company’s automotive parts inventory, it can sometimes feel like nobody notices. 

There are a lot of problems you can run into when managing an automotive parts department. 

While some problems are unavoidable no matter how organized you are, there are some big problems that can be easily fixed with a few small changes.

Times have been tough for businesses across the country. Reduced hours, less customers, adjusted operating procedures. But the world is slowly getting back to normal. And that means soon your automotive shop will be reopening full time (if it hasn’t already). 

You are always looking for ways to increase your bottom line. Sourcing better prices, looking for alternative vendors. While these are an important part of increasing revenues, there is one other way to increase your profits. 

Lower revenues, fewer customers, more regulations and requirements - COVID is doing a number on many of our businesses but there is a silver lining…

If your business is slow and you are opting for reduced hours, now might be the time to get to some of those projects you don’t usually have time to do – reorganizing inventory, completing parts reconciliations or training staff on best practices. 

Warranty Reimbursement is a tedious task for any dealership, but we can help make it easier. At Pro Count West, we have the experience and expertise you need to stay in control of your automotive warranty reimbursements, and we are making this service even better by offering a 25% discount.

When you choose Pro Count West to assist with your Warranty Reimbursement needs, you will benefit from:

Missing parts - every service shop has experienced it and suffered the pain of not being able to find them. It’s not only your bottom line that it affects, it also wreaks havoc on your customer satisfaction.

During this time when many businesses are in temporary shut-down, it’s an opportune time to re-think processes and consider how to make improvements.

When choosing an accounting method for automotive inventory valuation, it is important to consider how each method will impact your goals, as well as what is practical for your business operations.

Inventory valuation and Cost of Goods Sold (COGS) are an important part of your financial statements, including your balance sheet, profit and loss and cash flow.

While there are many different valuation methods, the two most common inventory valuation methods are LIFO (Last In, First Out) and FIFO (First In, First Out).