Excel Inventory Tracking Spreadsheet

All too often the question is asked “Should I have an Excel Inventory Tracking Spreadsheet” and the answer is typically, “No, of course not!” But there are some issues to consider.

It is essential to know what has been purchased on a daily basis, but once this information is in a spreadsheet you do not have it any more, except maybe for a quick check to see what has been purchased, if you happen to notice that the totals come in under budget then you can easily trim back on certain purchases. An average person will spend up to six hours a day at their job and it is important to keep track of what is being purchased and how much it costs. Many times managers will access this information from a company computer network or online and most importantly the numbers are always right in front of you.

Example Excel Inventory Tracking Spreadsheet
Example Excel Inventory Tracking Spreadsheet

If you have a business and need to keep track of your stock and how much stock you need to purchase, you will want to have an Excel Inventory Tracking Spreadsheet. Just as an example, let’s say you just took over the health care business and this is your first time managing a department. What would be the best method to go about tracking inventory? Do you have to have a separate staff for this or could you simply use a computer program to keep track of all the inventory?

A large department should be able to get together and agree on what the current needs are and the general picture of where things stand. Once this is accomplished, you can simply enter the inventory that is currently on hand into the spreadsheet and see how many stocks are available. You will then see the total dollars spent on inventory in a number of different categories. In this way you can quickly eliminate items that don’t qualify for immediate purchase or which may not be necessary based on current needs.

Of course, you might need to do some long-term planning purposes in addition to the short-term planning, so you will want to have a place to keep track of what needs to be purchased, as well as those items that are less of a priority. Simply enter the items that are still needed to complete a project and the items that are still needed to perform some other task and see how much the total billable items are. This can be a great way to generate new ideas and/or thoughts as to what items will make the most sense when considering more long-term or short-term money needs.

Excel Inventory Management Templates
Excel Inventory Management Templates

Perhaps you will have a project coming up that requires a large amount of stock or perhaps you have had to order some stock but found that it doesn’t fit the bill. No matter what the reason, having an Excel Inventory Tracking Spreadsheet can provide you with the answers. Simply enter the data and see what needs to be purchased and what is currently being purchased. You will have a few options such as stop purchasing stock, offer a discount, or simply discontinue the sale.

Sometimes it can be difficult to determine what is a smart decision or what may be a costly mistake. An Excel Inventory Tracking Spreadsheet can help here. When you want to eliminate a particular item you can simply remove it from the list.

Excel Inventory Tracking Spreadsheet Template
Excel Inventory Tracking Spreadsheet Template

Most companies like to use an Excel Inventory Tracking Spreadsheet to keep track of inventory because it allows them to keep track of their current order count in a quick and easy manner. No longer will they have to be juggling paper charts while trying to keep track of multiple lists. Keep your company up and running and productive with an Excel Inventory Tracking Spreadsheet.