Inventory Management Excel

Spreadsheets have been in use for years in many different business settings, from manufacturing to smaller retailers. They were hailed as a welcome relief from the paper 10-column ledger pads in use up until the advent of computerized accounting.

While recent years have seen some companies creating more automated spreadsheet programs, some of the downsides of inventory management Excel free spreadsheets and other free inventory management software, such as installed or downloaded to one’s hardware, require regular updates as software changes are made by the developer.

Due to their nature, these inventory tracking spreadsheet programs aren’t as adaptable to ongoing changes in a growing ecommerce business’s needs. They may offer inventory management software with free trials or at a reduced initial cost, but many of these free trials or cut-rate programs are very limited in their features, are available for a limited time only, as well as lack the scalability of growing with a business.

This can be alright for a while, but for those owners who plan ahead and hope to grow their businesses, scalability – the ability of a program, software, etc. to be flexible enough to grow along with the business - is not a notable feature of most spreadsheets.

Even so, using an inventory management Excel template can help manage inventory, with some programs set up to auto-fill reorder by flagging the reorder column once an item hits the minimum quantity.

Here’s how to create inventory management system in Excel or other spreadsheets:

• Open a new spreadsheet in Microsoft’s Excel, Google Sheets, Numbers, or a similar program.

• Name your headings

• Enter the products and corresponding information

• Save the sheet and update it during inventory checkups

You can use formulas to track inventory on a daily inventory sheet Excel or any other spreadsheet program to help track properties, ensuring that daily business operations run smoothly. This is especially useful if you move a lot of stock quickly, as with many online businesses.

Inventory Management Excel Formulas

Many small businesses start out using free inventory management Excel formulas and other types of spreadsheets or downloadable free software. If you’ve ever spent any significant amount of time entering data into a spreadsheet format, you likely know how tedious and time-consuming it can be. Not only that, but simpler spreadsheets aren’t able to automatically reorder replacement stock – only show you when levels are getting low, so you reorder in time to prevent out-of-stock items. Spreadsheets aren’t much help in tracking shipments, nor do they create labels, help manage warehouse tasks without dedicated separate entries.

Using the Excel inventory management template, you can enter data as well as track incoming and outgoing product movement. One drawback is that many spreadsheets aren’t customizable to integrate with fulfillment programs to handle non-inventory tasks.

There is Excel inventory template with formulas programs offered by Microsoft as well as through Google Sheets. For new businesses with a lot of upfront expenses and relatively small inventories of products, simple inventory management programs may be a good choice at the beginning. Once your business starts to have more sales and you need to increase your product lines, software brands QuickBooks, and Microsoft offer free downloadable Excel inventory templates for products businesses buy, make and sell.

Beginner Bookkeeping, for example, offers templates for 300, 700, or 1,000 items. You can use an Excel formula for inventory reorder which lets you know when and how much of a given product to reorder as well as whether the item has been discontinued.

Excel inventory template with formulas as seen below can be useful particularly for new businesses setting up a basic inventory system.

Utilizing the stock inward+outward Excel sheet formula can help manage stock tracking, according to ExcelJet’s website.

For general inventory management Excel formulas can be useful in managing slower-moving inventory but may be a hindrance with a faster-paced ecommerce website selling dozens of products daily.

Excel Inventory Management Template

The Excel inventory management template and similar tools have been widely used for a long time as a way for businesses to track inventory, but as online commerce grew, business owners began quickly looking for and asking software developers to create better, faster, and more.

accurate systems to track and manage incoming and outgoing inventory.

There are several inventory-related tasks that have been used with inventory management Excel template free download. Microsoft’s Office.com offers the following templates:

• Purchase sales inventory Excel template free download allows users to enter and track purchases as well as sales.

• Inventory management system template free download whether in Excel, Google Sheets or another program, can help businesses manage a relatively small inventory

• Stock management in Excel sheet free download can also show the full value of inventory at a glance with a column that multiplies stock quantity to give the total value of a product’s inventory

Finally, creating an inventory management system in Excel free download allows users to list in-stock items according to name, description, unit price, and any other relevant information. It also tracks stock reorder levels, reorder times, as well as quantities to reorder and whether the items have been discontinued.

Using specialized software it’s now possible to turn manually-entered spreadsheets into databases, allowing users to automate, share, collaborate, filter, interact and control data.

Ordoro offers you those capabilities and much more: you can not only enter, change, delete, transfer, share, and otherwise manage your inventory data but you can connect to your fulfillment operations, shipping an entire order tracking through the final delivery.

When you think about it, transferring all of your existing data into a new software system could cost you and your staff time and money, won’t it? Why not do the smart thing and avoid those hassles down the road by partnering with Ordoro - a leading software company.

Manufacturing Inventory Management Excel

Inventory management Excel sheet download is used by many manufacturers to track raw materials, finished products, sales, and reorders.

A free manufacturing inventory Excel template can be used to track raw materials as well as finished products and sales.

Using manufacturing inventory management Excel or other spreadsheets can help track raw materials using the following method:

• Enter products on the Products sheet
• Enter raw materials on the Raw Materials sheet
• Enter Bill of Materials (BOM) on the BOM sheet
• Enter orders on the Orders sheet (after checking the availability)
• View the current raw material stock in the Raw Materials sheet

If you are a manufacturer, especially if your business has multiple warehouses or distribution centers in different locations or states, each location must be fully integrated so your inventory and fulfillment team users can easily view real-time inventory levels. That's where Ordor's technology shines!

Wouldn’t you rather spend your time actually running your business instead of entering dozens of products, updating entries after orders, and trying to track warehouse and shipping location activities through an outdated inventory management Excel sheet download? If you’ve been using Excel, especially with dealing with warehouse management complexities, it’s time to ditch the spreadsheets and sign up with Ordoro, a leading software developer specializing in all aspects of ecommerce management.

• Ordoro inventory management software comes with apps and plugins for tracking inventory in real-time while maintaining production with end-to-end traceability.

• Ordoro offers complete multi-channel integrations, automated fulfillment from kitting, picking and packing, multicarrier shipping, order tracking, along with analytics and report generation.

• Odoro’s software and apps fully integrate with existing applications, including third-party accounting and CRM software to prevent task duplication for end users, as well as sync with financial, customer, and order-related data.

Small Business Inventory Spreadsheet Template

In the beginning, many small businesses facing a money crunch will likely turn to downloadable spreadsheet programs, particularly Excel or Google Spreadsheets. For smaller businesses, warehouse software can also be combined with other functionalities to encompass all movement of stock, manage storage systems as well as warehouse employees, fulfillment operations, and other tasks within the warehouse environment. Newer versions of such web-based software may also be cloud-based for even faster access. These programs pick up where most spreadsheet programs leave off.

Using a small business inventory spreadsheet template, while obviously useful in managing most phases of inventory, isn’t usually much help with order fulfillment, nor in pick/ pack lists, tracking, and all of the other functions necessary to run a successful business. At some point, you’ll realize that you need a faster way to not just stay on top of your inventory, but integrate with shipping and other business tasks. For example, some spreadsheets can help manage daily sales inventory tasks by listing items that have been sold by the company. Close tracking is necessary for recording sales, counter-checking, and accounting.

Some of the top reasons for using Ordoro’s inventory management software designed for ecommerce instead of spreadsheets are:

• Reduced inventory costs thanks to better accuracy with improved monitoring and ordering capabilities to give restocking priority to items generating the most revenue as well as delaying further ordering of underperforming items

• Reliable and secure to protect organization and customer data

• Improved inventory control over orders, showing real-time stock levels as well as projections for future requirements

With Ordoro, you’ll get FREE onboarding for 30 days plus lifetime support from our experienced and helpful team. Contact Ordoro today for a demonstration and see how easy and affordable it can be to fully take charge of not only inventory but all aspects of your ecommerce business.