For new and operating businesses, coming up with a sound inventory system is paramount. Inventories can help you track the the inflow and use of of goods and supplies. They are considered to be fundamental in most business ventures and structures.
MS Excel is one of the frequently used tool in creating quality inventory templates. It can provide you with ideas on how inventory templates work. In line with this, there are MS Excel inventory templates that you may download and use. They showcase different types of inventories from retail inventory to interest inventory. Match your inventory ideas with high quality templates.
Chemical Inventory Templates
Simplified Steps in Making an Inventory via MS Excel
MS Excel is a functioning tool that can help you create a personalized inventory system. Aside from being user-friendly, the records in your Excel form is easy to manage and update. Here are some simple steps that you may consider:
- Access and open your MS Excel program application. Depending on the version of MS Excel you’re currently using, a blank spreadsheet is provided for you once the program was opened.
- Use the cells in entering the appropriate labels and headings for your inventory. In this case, you should consider the type of inventory you’re dealing with. The common labels are product name, serial number, quantity, catalog number, and the tracking dates and many more. You can also supplement your work with templates, especially when you’re looking for inventory ideas such as estate inventory templates which are applicable in managing the estate of a deceased for taxation and distribution purposes.
- Make the necessary adjustments. If you want to adjust the size of your cells, you need to put your cursor on the line that you want to adjust. Then, click it twice.
- Format your inventory. After structuring the inventory sheet, you can make necessary formatting adjustments such as the font size, font color, and other design aspects.
Asset Inventory Templates
Computer Inventory Templates
Popular Forms of Inventory Templates
The structure and content of inventory sheets vary considerably depending on its usage and application. Consider the following templates:
- Server Inventory Templates – This is a common type of IT management. There are used to managed the software assets of a particular company or corporation. The template will provide you with ideas on how serve inventory spreadsheets are formulate especially the headings used.
- Chemical Inventory Templates – Regardless of the nature of a chemical being managed in an inventory, the use of such must be done with utmost diligence and responsibility. Take note that there are hazardous chemicals that calls for proper storage and upkeep. They are usually used in laboratories, hospitals, manufacturing plants, and many more.
- Book Inventory Templates – The templates apply to both online and hard-bound books. Books are considered as a depository of knowledge that need to be treated with care. These type of inventories are mostly used by librarians, property custodians, or the designated personnel in a bookstore.
- Tool Inventory Templates – There are also generic and specific templates for tool inventories. Tool inventories have broader coverage. Take note that there are a variety of tools that must be considered. Moreover, the usage of such tools also vary.
- Data Inventory Templates – In any type of business, data plays a key role. In this inventory, you may list down the names of the data managed, the type of data, the usage, and etc. To add, the templates also showcase formatting ideas and designs.
- House Inventory Templates – Household inventories are mostly managed by the head of the household. In your home inventory, you can manage your items by listing down their names, specific locations, the category or type of item, the model, their serial numbers, and their corresponding purchase date.
Challenges in Managing Inventories
Inventory management and control is not that easy. There are certain challenges faced by different institutions in dealing with them.
- Inventory shortage or excess – Due to man-made errors or uncontrollable circumstances, the persons assigned to manage the inventory commit errors in forecasting or estimating. That is why, it is crucial that you consider the type of product that you’re managing. For instance, foods and beverages have expiration dates and thus must be stored accordingly.
- Poor communication and coordination – One thing is clear that is inventory management calls for a collective effort. The management of the inventories must not be solely left to the management of a single person. There should be proper channeling and open communication to all concerned members of the management team.
- Inventory systems that are not regularly updated – If inventory systems are not regularly updated, it would defeat the purpose of inventory templates which acts as a depository of relevant details about certain products, goods, and software. In the case of bar inventories, since items such as food and drinks have a high turnover rate, bar inventory templates and documents need to be constantly updated so as to maintain the stock levels necessary to keep the business operations.
Indeed, inventory management can be tricky. This is because there are various factors to consider such as the type of product, the location for the storage, the line of business, and many more.
How to Enhance the Quality of your Inventories
It is a given fact that there are limitations as to the efficacy of inventory templates. In the end of the day, you’re still the one tasked to manage and control its quality. Here are some tips that you may consider:
- Make different types of inventories for similar products or materials. It is advisable that you sort out your inventories and come up with different ones for different products. Bear in mind that the nature of the product as to durability and wear and tear truly vary. Property inventory templates will show you the differences when it comes to controlling different types off properties.
- Established a sound and consistent inventory management policy. An inventory tracker is merely a tool or system. You need to define protocols and designate responsibilities to authorized and qualified personnel. If the policies of your inventory system are inconsistent, then the quality of the inventory is truly affected.
- Use an automated inventory system. Because inventories deal with relevant and sometimes even confidential information, your company should adopt a system or database. Automating your inventory instill convenience and ensures the quality of your records an documentations.