Aged and Slow-Moving Inventory Markdown Audit

Inspects aged auto parts inventory against turn thresholds, verifies markdown eligibility, and documents corrective actions for slow-moving SKUs.

Inspection Setup and Scope

• Aged inventory report is current and covers the correct location and date range
  Verify the report used for the audit matches the store, warehouse, or department being inspected and reflects the intended review period.
• Turn threshold or aging policy is documented for this audit
  Confirm the standard used to identify slow-moving or aged SKUs is available and applied consistently.
• Inspector confirms scope includes all relevant auto parts categories
  Select the inventory groups included in the review.

Aged Stock and Turn Threshold Review

• SKUs exceeding the turn threshold are identified on the report
  Confirm all items beyond the defined turn threshold are clearly flagged for review.
• Number of SKUs exceeding threshold
  Enter the count of SKUs identified as aged or slow-moving.
• Oldest inventory age observed
  Record the oldest age in days among reviewed SKUs.
• Aged SKUs were physically verified against shelf or bin labels
  Confirm the report matches actual inventory locations and labels.
• Inventory condition supports continued sale or requires removal
  Classify the disposition of the aged inventory based on observed condition and policy.

Markdown Authorization and Pricing Controls

• Markdown percentage is within approved policy limits
  Record the markdown percentage applied or proposed for aged items.
• Markdown approval is documented by authorized manager or system workflow
  Verify markdowns were approved according to company authority limits and workflow requirements.
• Original price, markdown price, and effective date are visible on the record
  Confirm pricing records show the original price, reduced price, and the date the markdown took effect.
• Reason for markdown is documented
  Select all applicable reasons supporting the markdown decision.

Storage Condition and Safety Review

• Aged inventory is stored in a clean, dry, and organized area
  Verify affected stock is protected from moisture, contamination, and disorder that could cause damage or mispicks.
• Aisles and access paths to aged inventory remain unobstructed
  Confirm storage does not block egress, emergency access, or safe retrieval of inventory.
• Hazardous or regulated products are segregated and labeled correctly
  Check that chemicals, aerosols, batteries, or other regulated items are stored according to applicable safety requirements.
• Damaged, leaking, or expired items are isolated from saleable stock
  Ensure non-saleable items are separated to prevent accidental sale or cross-contamination.

Documentation and Corrective Actions

• Exceptions and discrepancies are documented with SKU, quantity, and location
  Record any mismatch between the aging report and physical inventory, including exact SKU and location details.
• Corrective action assigned for each failed or exception item
  Document the action needed for each deficiency, such as repricing, transfer, return, quarantine, or disposal.
• Follow-up owner and due date are assigned
  Assign responsibility and a due date for completing corrective actions.
• Inspector sign-off completed
  Inspector confirms the audit findings are accurate and complete.