RV PRO

July '19

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136 • RV PRO • July 2019 rv-pro.com B U S I N E S S J uly is a month for national celebrations. RV PRO's Canadian readers celebrate Canada Day on July 1, while in the United States readers commemorate Independence Day on July 4. Hopefully, dealership readers also have cause to celebrate improvements in their parts and accessories inventory management efforts. This month's column contains a review of some inventory management factors that you can use as a checklist against which to evaluate your parts and accessories inventory management performance. One might wonder: What inventory perfor- mance factors (IPF) are important? In my experience, there are numerous inven- tory performance factors – and each of them is important. However, you should decide which ones are most important in your business. In this month's column, I will review eight inventory performance factors. I suggest that you and your parts manager review this octet and decide which of these are important in evaluating the performance of your parts and accessories inventories. The Eight Essential Factors – Explained As mentioned in the previous paragraph, there are IPF other than the eight contained in this column. However, from my experiences, these eight provide a cohesive overview of inven- tory operations. Establishing set inventory performance factors for the parts department is likely to result in a better performing parts and accessories operation. By Mel Selway Mel Selway is president of P.A.R.T.S.*. Inc., an Amado, Ariz.-based firm providing business management analysis assistance and training to vehicle manufacturers and dealers. He can be reached at melselway@ aol.com. July – A Time of Celebrating Or at least it should be, if you are staying on top of your parts and accessories inventory management performance.

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