FINDINGS, RECOMMENDATIONS, AND MANAGEMENT RESPONSES
1. Finding-Parts Inventory Test Count
We performed a parts inventory test count by selecting 101 distinct parts (6.6%): 53 parts with the highest cost/unit and 48 with the highest stock value based on the number of parts times the unit cost. Our sample was selected from the Faster System's Fleet Warehouse Inventory listing of 'active" part numbers as of 10/23/09: the same day the physical inventory was started. The warehouse inventory population consisted of 1.526 parts, which included 29,999 items. of the parts selected by high unit cost we found part #2-4372025, a refurbished radiator that reflected zero items in stock on the inventory listing. This is a special and expensive part that was difficult to obtain when a replacement was necessary, thus Fleet decided to refurbish it at significant savings and keep it in stock, but it was not entered to the Faster system.