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  • 1.  Museum Store Inventory Procedures

    Posted 10-07-2015 07:49 PM

    Hello all. I'm wondering if anyone has policies or procedures that they would be willing to share about inventorying museum store merchandise. We have a very small staff and our auditors are concerned that volunteers are doing it but they want us to complete inventory once a month and there is no way we could do that without volunteers. So I'm hoping I can find some examples or best practices that might allay their fears! 

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    Ray (Rachel) Smith PhD
    Director
    Corita Art Center
    Los Angeles CA
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    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more


  • 2.  RE: Museum Store Inventory Procedures

    Posted 10-08-2015 08:29 AM
    Ray-you should look at the Museum Store Association. They are a membership organization, but have a number of resources that don't require membership. There have been a number of discussions about store inventory procedures on their listserv that might be helpful.

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    Melissa M. Heaver
    Research Director/Registrar
    ​/Shop Buyer​
    Fire Museum of Maryland
    1301 York Road
    Lutherville, MD 21093
    410-321-7500 X100
    410-769-8433 (F)



    Original Message
    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more


  • 3.  RE: Museum Store Inventory Procedures

    Posted 10-08-2015 11:27 AM

    Wow, well we definitely do not do a total store inventory on a monthly basis.  That definitely seems like overkill.  We do ours twice a year, which is pretty typical of retail in general (my previous work experience is in department store and specialty store retail).  Monthly inventories would be more typical for food service areas. 

    As far as an over view of procedures, we do a blind count, while the store is closed.  We do a combination of scanning and manual count sheets, with back stock areas counted and sealed prior to inventory day.  Once the counts are entered we run discrepancies. We do a second count for items that show up as a discrepancy to confirm an accurate count. 

    Please feel free to contact me directly if you have more specific questions. 

    Best,

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    Karen McNeely
    Director of Retail Operations
    Milwaukee Art Museum
    Milwaukee WI
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    Original Message
    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more


  • 4.  RE: Museum Store Inventory Procedures

    Posted 10-08-2015 11:34 AM

    Hello Ray,

    Here are some comments and input from our retail principal Shelley Stephens who's located here in Los Angeles area:

    Counting all inventory once a month seems excessive and requires so much logistical planning and follow up bookkeeping as to be counter-productive.  The overwhelming majority of museum stores perform a physical inventory once a year, usually at the end of the fiscal year.  This timing is to reconcile any problems, clean house, and start fresh in the new accounting year.  Why do your auditors want a monthly inventory?  Have there been problems in the past?  Is there another way to rectify?  How will a monthly inventory help?  How long will this monthly counting have to take place?  Several months or throughout the year?  Is it temporary or ongoing?  

    We are a local consulting firm and work with museums locally and all over the country with museum store and other earned income areas (facility rentals, catering and visitor dining). Shelley who has worked with many local cultural institutions on their stores can be reached at shelley@manask.com if you would like to follow up with her personally.


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    Arthur Manask
    President
    Manask & Associates
    Burbank CA
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    Original Message
    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more


  • 5.  RE: Museum Store Inventory Procedures

    Posted 10-09-2015 02:40 PM

    Ray,

    I agree with the others, a full inventory is pretty much unheard of.  What is helpful and your auditors may approve of is doing regular cycle counts (counts of limited items) that can serve as a spot check.

    Rich

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    Rich Rime
    Director of Sales
    Museum of Flight
    Seattle WA
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    Original Message
    AAM Annual Meeting & MuseumExpo, Baltimore, May 16-19, 2024, click to learn more