![]() ![]() Inventory spreadsheets are by no means a sustainable tool for the long term. Startups and other small businesses that are just beginning and do not have a firm grasp of inventory management or even of all of the expenses going into their inventory may find inventory spreadsheets to be a good stepping stone along the path of effectively managing their inventory. Small businesses may be able to stick with an inventory spreadsheet for some time if they can manage to make it work for them, so here are three reasons that they might choose to go this route. There are many reasons why a company might decide that using an inventory spreadsheet is in its best interest. Three Reasons to Use an Inventory Spreadsheet Item Discontinued: This will be marked “Yes” and the entire row will be colored in grey if, for any reason, an item becomes unavailable and will not be sold anymore. Item Reorder Quantity: This is the number of items that should be ordered after an item’s Stock Quantity falls below its Reorder Level. Reorder Level: This is the lowest number of items that can be on hand before it will update the Reorder column to let you know that it is essential to reorder an item to avoid running into a shortage.ĭays per Reorder: This is essentially the lead time for orders so that you will know how many days will pass between the time you order more items and the time when they will arrive. It is a simple equation, but it effectively tells you the value of your inventory. Inventory Value: This is the result of multiplying the Stock Quantity and the Cost per Item together. Stock Quantity: This is the total quantity of parts that are in your warehouse at this time. ![]() Manufacturer: You may prefer supplier, vendor, or manufacturer, but whatever they are called they are the ones responsible for the items you sell, and so they are the ones to contact when it is time to reorder items.ĭescription: This is the place to describe various characteristics of an item to help you distinguish it even more clearly from other items in your inventory.Ĭost per Item: You can assign a specific cost attached to a part so that you know exactly what expenses you will incur by ordering more and whether or not you are making a profit when setting the price it will be sold for. Name: The name is more than a number, and it identifies the item by a proper name, e.g., couch, chair, table, etc. Item No.: This is a simple but effective number that allows you to identify all of the items in your inventory and keep each item separate from everything else. Reorder (auto-fill): This will remain filled with the word “OK” until the point when an item reaches its minimum Stock Quantity, and then it will change to let you know you need to order more. Once you download the inventory spreadsheet and open it, you will find it is filled with a number of columns that are marked with the following headers: What You Will Find in an Inventory Spreadsheet We will talk about what you will find in this inventory spreadsheet, as well as three reasons to use it and three reasons you will most likely move past it eventually. Visit the Inventory Template page and fill out a quick form to download the inventory spreadsheet. An inventory spreadsheet is a useful tool for collecting and storing basic information about the items you have in your warehouse, as well as how to obtain more when the time comes.įishbowl offers an inventory spreadsheet that you can use as a guide to get started with inventory management. ![]()
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