In this article, we will discuss about complete inventory management template, MS excel sheet. In this template, you can manage raw material, stock control management and product management.
What is Stock Management in Inventory Management?
Stock management is crucially important and plays a great role in the success of business. Stock management starts on the delivery of raw material to the final product. It basically includes overall management of inventory.
- Download Inventory control management template in Excel sheet
- Stock take management for BAR, restaurant and hotels
The staff assigned for this task starts working by ordering the required materials, storage and monitoring of the items available in the inventory to keep the process of product in and out in regulation. Good stock management is having all items available in stock for the sale.
Raw Material Inventory Management System in Excel
Check out Raw material stock inventory template in excel with stock control sheet or goods management. Every company has their own strategy to manage stock but some available templates can help the team in organizing stuff for further tracking and ordering.
Stock can be categorized into different types depending about the company or business. But most common available stocks are raw materials, the materials in progress and final products.
Key Features of Stock management Template in Excel
Some generalise templates for excel are always available but personalized can be designed according to your requirement. A sample template usually has product number, name and description. Number of items available in the inventory is important to add. Actual cost and the price on which you are planning to sell the product is recorded to keep the financial matters under check.
The spreadsheet is constantly updated according to the sale of the product. This helps the stock management team to plan reorder according to the items left in the inventory. Try to keep your stock management template sample otherwise you may face a lot of mess and it will be difficult to handle so many things altogether.
The lesser the columns you’ve made for the data the easier the stock management will be. Formulas are available for excel. You can use them for the calculation of the sales, items sold/left, profit as well. These formulas save your energy that you need to invest on manually calculating everything.
- Mainly you have to sum up the data present in the Inventory Management System in Excel has that function and do the job in seconds. This sum property will automatically provide you with the total as soon as you set this function. And as the spreadsheet is updated the formula applied already will manage and reorganize the totals.
- Sorting of data can also be done easily in excel, it can be done on the basis of number, size or color. But be sure you have entered data correctly otherwise results may vary.
- Products can be ranked on the basis of their availability or sales as well. You can set this function according to your business requirement.
Related Article: Shipment Tracking Excel Template
What is Retail Inventory Management Template?
It actually means that the retailers / seller meet the customer’s demands by maintaining just the right number of items in inventory. There are ways for the management of retail inventory;
- Create an accessible record of all products
- Look for the location of stock
- Regularly monitor the availability of items in stock
- For tracking compare the inventory data with the sales
- Form a constant purchasing procedure
- Sets promotional offers
- Make a proper product receiving procedure
- In case of defect, you need return process
- List out the damaged products present in inventory
- To maintain success, set key performance indicators.
Types of Stock Management Template:
There are several sub-units of each process. When we talk about stock management, there are different categories of inventories that require attention for the management.
- Inventory tracker excel and Inventory software in excel
Inventory tracker in excel is very effective way to maintain inventory of your business. Inventory tracker allows you to track every movement of your material in detail.
- Raw material inventory management excel:
If we talk about a production system, the most significant thing is raw materials. If they are well organized then later procedures can be performed easily without any hustle. List down the raw materials, record its quantity, price and the unit required to measure the raw material.
- Warehouse inventory template excel:
Separate spreadsheets are made for the management of warehouse inventory. By breaking down into categories, it makes the management process convenient.
- Restaurant inventory management excel:
There is a lot to manage in a restaurant and by making an excel spreadsheet for inventory will lessen the burden and make your processes smooth.
- Store inventory software excel and Stock control system excel
Software for store inventory is very important to maintain record for all goods of your business and excel is very powerful tool to manage that software.
If you need some custom requirement about Inventory Management System in Excel, Raw material or stock control template, then you can direct comment PROJECTS124.COM