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<< Click to Display Table of Contents >> Navigation: MLS 2026 Operations & Reference Guide > Inventory > Inventory Monthly Checklist |
Proper inventory management is critical to:
•profitability
•cash flow
•purchasing efficiency
•accurate accounting
•technician productivity
•customer satisfaction
This checklist is designed to help maintain:
👉 accurate inventory control
within MLS 2026.
It is strongly recommended that these procedures be performed:
👉 every month
with additional spot checks performed weekly in high-volume operations.
Although this is a monthly checklist, the following habits should occur daily:
•Process all received parts through Stock Input
•Use Purchase Orders for all vendor orders
•Verify workorder parts before invoicing
•Return incorrect or damaged parts promptly
•Update retail pricing when vendor costs change
•Monitor low-stock items regularly
•Process core returns consistently
Consistent daily procedures dramatically reduce monthly correction work.
Run:
👉 Inventory Reports → Below Minimum
Review:
•low-stock items
•critical service parts
•fast-moving inventory
•unexpected shortages
•minimum quantities are reasonable
•stocking levels remain appropriate
•backorders are valid
•vendor availability has not changed
Run:
👉 Holdover Report
Review:
•parts not sold recently
•excess stock
•obsolete inventory
•seasonal items
•reducing stocking levels
•returning items to vendors
•discontinuing inventory items
•moving excess stock
Select:
👉 Inventory → Utilities → Balance
Perform physical counts for:
•high-value inventory
•fast-moving items
•commonly lost parts
•recently received stock
•stock quantities
•location accuracy
•shelf organization
•damaged inventory
Small section-by-section balancing is easier than full annual corrections.
Review:
•open Purchase Orders
•backordered items
•delayed shipments
•cancelled items
•on-order quantities are accurate
•completed POs are closed
•vendor deliveries were processed
•duplicate orders were not created
Compare:
•Last Price Paid
•Average Cost
•Retail Pricing
•current profit margins
•vendor increases
•outdated retail pricing
•wholesale pricing accuracy
Recalculate pricing tables if needed.
Run:
👉 Lost Sales Report
Review:
•repeatedly requested items
•seasonal demand
•commonly unavailable parts
•whether additional items should become stocking inventory
•if minimum quantities should increase
•whether alternate vendors are needed
Run:
•Outstanding Core Report
•Core To Return Report
•customer core returns
•vendor return credits
•outstanding balances
•stored cores awaiting shipment
Prompt core processing improves cash flow.
Run:
👉 Catalog of Non-Stocking Parts
•frequently purchased non-stock items
•repeated special orders
•common service parts
•converting frequently used items into stocking inventory
Review:
•shelf organization
•storage locations
•mislabeled bins
•recently moved inventory
•location codes still match physical layout
•new inventory has proper assignments
Good organization prevents:
•lost inventory
•duplicate purchases
•technician delays
Run:
👉 Complete Inventory Listing
or:
👉 Quick Totals
Review:
•total inventory value
•excessive investment in slow-moving stock
•high-cost aging inventory
•inventory turnover
•cash flow impact
•reorder strategy
Verify:
•all vendor returns were processed
•credits were received
•defective inventory removed
•incorrect shipments resolved
Run comparison reports:
•Inventory Sales Summary
•Parts By Location
•Quick Totals
•Stocking Reports
•unusual variances
•negative quantities
•incorrect pricing
•duplicate inventory records
At least once per month, management should review:
•inventory investment
•turnover rates
•dead stock
•lost sales
•profit margins
•are employees following procedures?
•are Purchase Orders being used?
•is Stock Input being bypassed?
•are returns processed correctly?
•pricing accuracy
•markup consistency
•vendor cost increases
•shrinkage or loss
Every quarter, consider:
•deeper inventory balancing
•vendor evaluation
•pricing table review
•warehouse reorganization
•dead stock liquidation
•purchasing pattern analysis
At year end:
•Perform complete physical inventory
•Run Yearly Closing
•Archive reports
•Review annual sales trends
•Review vendor performance
•Recalculate stocking strategies
•Review obsolete inventory
•Reassess pricing structures
The following usually indicate inventory management problems:
•increasing lost sales
•excessive special ordering
•negative inventory counts
•large quantities of dead stock
•inaccurate stock counts
•pricing inconsistencies
•increasing write-offs
•duplicate inventory purchases
•excessive backorders
•parts frequently “missing”
These issues should be corrected quickly before they affect:
👉 profitability and customer service.
•Use Purchase Orders consistently
•Process all receiving through Stock Input
•Maintain organized location systems
•Perform regular balancing
•Review reports frequently
•Standardize descriptions and coding
•Monitor vendor pricing carefully
•Reconcile cores promptly
•Preserve inventory history
•Train all staff on inventory procedures
This checklist works closely with:
•Inventory Editor
•Purchase Orders
•Stock Input
•Returns Processing
•Core Processing
•Inventory Utilities
•Pricing Management
•Inventory Reports
•Stock Balancing
•Vendor Management
Together, these procedures provide a complete inventory management workflow for MLS 2026.