Stock Inventory Control Template Excel Free | Bizzlibrary

If you run a small business or online ecommerce shop, you can probably will be able to meet your inventory management and control needs with a basic inventory list ub Excel. Use this spreadsheet template to track materials and products by quantity and unit price. You will also find some formulas to help you keep track of inventory value per item and when you need to reorder stock. As you grow and your business becomes more complex, you might need a more comprehensive inventory management solution.

Do you want to create your own Excel inventory solution?

Check out this great Youtube video by Chester Tugwell: Create an Inventory Management Template in Excel with Formula

This free XLSX template cannot only be used in Excel but alsi within OpenOffice Calc, and Google Sheet for efficient and hassle-free management of the inventory of your goods.

A few essential tips to manage your inventory:

• Register each product with a unique ID and a corresponding supplier data. Ensure it is always up to date;
• Survey each stored product and potential suppliers. Register all in an Excel spreadsheet, import system data, and consolidate the information to create an overview;
• Make an order compatible with the Minimum Inventory Level, market demands, and available physical storage;
• Monitor the development of each product stock to identify market and for example seasonal trends and inventory needs to make sure you are prepared when needed;
• Record the inventory inputs and outputs, including possible losses. Be very accurate! This information is fundamental for later verification and do a correct analysis to make optimization decisions;
• Use ABC Analysis Methods to identify products with greater and smaller turnover, demand and financial return. This should be done using the 80/20 Pareto Principle;
• Audit your physical inventory against recorded data on a regular base. Try to identify what is causing these differences (ghost inventories), make necessary adjustments but also put procedures in place to minimize them towards the future.