How to Create an Inventory Spreadsheet
According to Paldrop, your company's reputation will be greatly affected if you practice poor inventory management. To avoid this, you must ensure that every product must be replenished immediately once the stock is low because your customers will be compelled to switch to your competitor. You should possess all the resources needed for your inventory keeping, and one of these is by securing an inventory spreadsheet. Here's how to make one:
1. Choose a Program
Your simple inventory spreadsheet can be created through Microsoft Word, Microsoft Excel, Google Sheets, Google Docs, and Apple Pages. But the ideal program would be spreadsheet-based programs, which are Google Sheets and Microsoft Excel. These programs will be ideal when entering quantitative data.
2. Decide the Item You Want to Track
What item are you trying to monitor? Food? Office sdupplies? Indicate the name of the generic name at the topmost part of the sample inventory. You may also include the date when the item was bought, its shelf life, etc., so it will be easier on your part to get rid of them.
3. Categorize the Items
If you are to categorize food items, they will be fruits, vegetables, cereals, etc. For office supplies, they would be desk organizers, calendars, planners, etc. It will be easier to keep track of these if you organize them in the first place.
4. Update Regularly
These products will eventually be reduced as time goes by. Update the printable inventory spreadsheet regularly to see which product needs replenishment immediately. Don't wait until the last product is off the shelf because your supplier may not be able to supply the stock immediately.
5. Use Templates
If you want it the easy way, use our professionally written inventory sheet templates are available for your use. These templates are easily editable to suit your preferences, and these are guaranteed to give you a hassle-free inventory keeping.
How important is inventory keeping?
If your customers find that you are constantly missing an item or two, they won't have a choice but to go to your competitors. This will also tarnish your reputation while you gradually lose your competitors. Avoid this dilemma by conducting responsible inventory management regularly, with the help of inventory management tools.
Can I make my own inventory spreadsheet?
Yes. Through different programs such as Microsoft Word, Google Docs, Microsoft Excel, and Google Sheets. Spreadsheet-based programs like Excel and Sheets are ideal programs for inventory tracking. There are also templates that you can use for a more convenient inventory-tracking.
What are the four inventory types?
According to Reference for Business, the four inventory types are finished goods, raw materials, MRO or Maintenance, Repair, and Operations goods, and work-in-process goods. It will be easier to trace these goods if categorized.
Who is in charge of inventory?
The inventory manager is in charge of the inventory. The inventory manager manages the inventory staff and warehouse workers, who are responsible for monitoring the goods that arrive and leave the warehouse.