Looking for well-formatted inventory templates? You’re on the right page. An inventory ensures that the business assets such as the goods are tracked and monitored properly. According to research, it represents one of the most important assets of a business. In line with this, formatting one can be a burden and ultimately time consuming.
As an answer to your problem, we have here an array of inventory templates in excel format that will help you with your transactions. They are high-quality samples that provide effective content. So what are you waiting for? Feel free to check out our inventory templates.
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Sample Excel Inventory Template
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The Different Types of Inventory
An inventory is commonly defined as a stock of goods. They are maintained on hand in order to ensure that the demands of the company are complied with. In line with this, here are some of types of inventory:
- Transit inventory. In this kind of inventory, this involves the transfer of goods from one location to another. For instance, automobile manufacturers employ freight consolidators in order to consolidate their transit inventories coming from various locations to one shipping source.
- Anticipating inventory. In here, the firm will store inventories that exceed their usual needs usually for anticipation of future use. For instance, there will be a sudden price increase or an impending labor strike; the anticipated inventories will surely be of help.
- Buffer inventory. In relation to anticipating inventory, there are also buffer inventories. They are also referred as safety stocks. This is defined as any amount held on hand which is over and above the current demand. These are useful in countering the uncertainties in the changes of demand and supply.
These are just some of the types of inventories that can be useful for you. You can also check out our inventory spreadsheet templates. Feel free to check them out.
Excel Inventory Spreadsheet Template
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Relevance of Inventories
Inventory is an important aspect in any company. It forms part of the major dealings of the business as a whole. Here are some of the significance of inventories:
- Tightens management. Inventory management is an efficient way of realizing more profits in your business. If you know how to deal and handle your inventories, you can minimize the risks of acquiring more and more expenses.
- More possibilities for increased profits. The inventory is the wind beneath the wings of revenue and profits. They are the push factors toward realizing more profits and ultimately revenues for the continuance and improvement of the business as a whole.
- A way to avoid ruining merchandise. It is an excellent way to avoid money wastage. An efficient inventory control system can avoid wastage of stocks particularly those stocks that are perishable in nature.
These are some of the benefits of inventories. Our excel inventory templates will truly be of help to you and for the betterment of your business as a whole. You can also check out our inventory report templates. Feel free to check them out.