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You can also check Microsoft’s official template library to see what’s possible. If you open Excel and search for “inventory,” you’ll find pre-designed examples that meet your requirements. Microsoft offers numerous Excel templates for a wide range of needs. If building an Excel inventory management spreadsheet from scratch seems beyond you (or not the best use of your time), you can always opt for an Excel inventory template – and there are many great ones out there. If you don’t understand Excel’s functionality, you may not realize there are more efficient solutions to your inventory tracking challenges.įor an excellent walkthrough, check out this tutorial: This may be out of the question for business owners barely staying afloat as it is.Īlso, your Excel knowledge may be a limiting factor in what you can achieve in your spreadsheet.Īfter all, you don’t know what you don’t know. The time cost is canceled out by the benefits of having a spreadsheet that conforms to your company’s inventory management requirements.īut building an Excel spreadsheet from scratch can be very time-consuming, especially if you’re unfamiliar with Excel logic and formulas. The prospect of building it yourself may even sound fun to you (no judgment, we promise).īy taking this approach, you’ll get exactly what you want and need because you’ll customize it to meet your specific inventory challenges. Whether you want to build your own from scratch or find a perfect template, the solutions you need are out there.īuilding your sheet from scratch is a viable option if you’re already a spreadsheet wizard. If you’re ready to take Excel for a spin as your inventory management tool, the next step involves finding the right spreadsheet for you.
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That’s why we recommend using inventory management templates to start (especially if you’re not Excel-savvy).Ĭreating (or borrowing) an inventory management spreadsheet That said, building from scratch will take a lot of work. You can also use Excel’s computational abilities to track critical metrics like quantity in stock, purchase costs, inventory value, and quantity in reorder. You can start with something as rudimentary as item quantities or build a massive, multi-spreadsheet system with automated calculations, detailed product specifications, supply chain tracking, sales analytics, and predictive reorder points. You can make your inventory tracking as simple or complex as you need. Implement the strategies in this post and watch your inventory management excel (see what we did there) to new heights. Microsoft Excel serves as an ideal bridge between these options. They’re too big for manual inventory tracking but not ready for full-fledged inventory management software. Mid-sized companies often find themselves in a challenging spot. Many people have a love-hate relationship with Excel, Microsoft’s powerful spreadsheet software.ĭespite this, no one can deny its capabilities as a staple in almost every industry, especially mid-sized ecommerce companies looking for a quick way to track inventory.