Free Excel Inventory Templates: Create & Manage

Implement an IMS to gain greater inventory control, and less costly mis-ships. By taking the information from your Excel sheet and transferring it into other formats (charts, tables, Excel inventory graphs, etc.), you can spot trends and problems over time. For whatever reason, your inventory manager has an issue that prevents them from changing the sheet as inventory shifts.

This Software Inventory template by Vertex42 is designed to help you manage the process of tracking hardware and software assets. It offers the ability to easily keep track of the location of installed software and monitor information about software license expiration dates. Use a spreadsheet to track important inventory information like each product’s SKU, barcode, description, location, quantity in stock, reorder point, value, and more.

Using a Template

In addition, automations can really improve your scalability, by enabling you to process both purchase orders and customer orders in a shorter amount of time (and requiring fewer employees to do it). Advanced inventory management systems also automate the inventory replenishment process, calculating how many units you need to order to keep sales flowing. A good inventory template records products, order forms, shipments, and customer data to help reduce manual labor costs and optimize inventory processes. Change can be scary, but the right inventory management software can help you reach new heights. Excel requires more hands-on maintenance than inventory management software, but you can make it work by implementing some basic best practices. With free options available both in Excel and online, it’s not hard to create an inventory management template without blowing up your budget.

As your business grows, you may increasingly notice the need for a dedicated inventory management system, rather than simply relying on an Excel spreadsheet. There are a variety of examples of inventory management software and inventory management apps available. Finally, the stock database tab gives you an inventory list or a place to keep a running check of all the individual product lines you stock. Adding a line here will automatically create an entry for it in the stock inventory and daily stocktake tabs. The stock inventory tab uses formulas to calculate your stock at the close of business each day. By using the opening stock and stock movement data from the daily stocktake tab, you can track trends in stock movement across longer periods of time.

As you grow from the basic inventory management needs, look at true cloud-based robust inventory management software. Excel inventory management can help you better organize and track inventory and stock items, so you have a better idea of what you have and what you need. An Excel-based inventory management system can allow you to better categorize, tag and label inventory items for improved awareness across your team. Our maintenance management solutions can be used to manage inventory for maintenance items, schools supplies, athletic equipment, IT products and more. Efficient inventory management can save time and money while boosting operational efficiency and accountability.

How to Create an Inventory System Using Excel Templates

Excel may not be everyone’s favorite piece of software, but it’s hard to deny its versatility. One of the big flaws with Excel is that it makes analyzing historical data challenging. We can combat this problem by making sure you’re consolidating your data regularly for easier reporting.

• They oversee the levels of inventory and, again depending on the size of the company, lead a team of warehouse employees who receive and track stock as it’s delivered and shipped out.
• In addition, it has customizable currency, text, and measurement settings.
• In our template, we added conditional formatting to highlight outstanding online orders that didn’t get shipped in time.
• These key advantages are also relevant for 3PLs looking to adopt inventory management software for its warehouse.

In fact, management software allows you to track incoming stock and outgoing orders in mere seconds. By using an inventory checklist template in Excel, businesses can save time by calculating their current inventory levels and when they need to reorder items using calculation formulas. It also allows them to add notes to each item if they have any specific concerns or questions. An inventory report template is an essential tool for businesses to manage their inventory, track purchase orders, and stay organized with their stock levels and products. The template provides a comprehensive overview of current inventory levels, as well as the details of incoming and outgoing shipments. Like the home inventory template above, this template allows you to record personal belongings so that you’re prepared in the event of a natural disaster or other emergency.

Download your Excel inventory template.

Input details of all your inventory into the template to get clear visibility of your stock position. You might find it useful to read our guide to inventory management to help get you started. The two previous values can be applied to this formula which enables you to manage the current stock level for each type of product in your inventory.

Taking the time to consolidate your data monthly allows you to create charts that outline how much you sold in each period. You should do this monthly and quarterly, paying special attention to holidays and occasions. Traditional offline Excel documents are severely limited because only one person can use the sheet at once.

free Excel templates for inventory management

Another advantage our software is that it’s cloud-based and can be used from any location on any supported mobile device. You can be miles away from your inventory but still check on numbers or make transactions. A built-in catalog even makes for quick and easy ordering of new items, all of which can be tracked in your inventory management system. Rather than trying to devise your own spreadsheet or tracking form, explore how easy-to-use software could help you improve your inventory management to save time and resources.

Make sure that anyone handling orders updates the Excel document immediately to prevent issues. We've made it easy for you to get started managing your inventory in Excel or Google Sheets with this free inventory spreadsheet. This column multiplies stock quantity and item cost to give you the total value of your inventory of that product.

The template is formatted for human resources but can be customized to add raw materials, equipment and more. A high-level view of the entire project is always helpful and it can inform your decisions when managing inventory. Our real-time dashboards automatically collect and calculate data and display the results in colorful graphs and charts.

In terms of inventory management in Excel, it’s often used to generate SKUs. One of the biggest problems facing any inventory management spreadsheet is data omission. Missing entries in product catalogs can throw off the whole spreadsheet and seriously skew the data you’re presented with.

Simple and easy to use, this basic inventory control template is perfect for a small business or any business that doesn’t need a lot of bells and whistles to manage inventory. View inventory by item name, description or ID number as well as unit price. Track the total quantity and value of your current inventory, reorder dates, and discontinued items. Managing inventory is straightforward with this template because of its clean design.

However, a work order can sometimes be the same thing as a purchase order (PO). One company might send a work order to another company to request their products/services. We’ve written a whole other article about pick lists and how they can help you prepare orders faster. If you’ve been picking orders one at a time, then a pick list can improve your workflow by enabling batch picking.

Explore insights and research on improving productivity for your sales team. When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. A published author and professional speaker, David Weedmark has advised businesses on technology, media and marketing for more than 20 years.

Death Wish Coffee has curated a repetition for producing robust, well-crafted coffee. The company had already built a loyal following among coffee enthusiasts, but then in 2015, their level of exposure skyrocketed. That year, Death Wish won a small business contest that awarded them with a 30-second commercial aired during the Super Bowl. What followed was an avalanche of attention, and a massive wave of overselling across their two sales channels. ClickUp has hundreds of customization options, so IT specialists can tailor their Workspace to meet the specific needs of their organization. The user-friendly interface allows for quickly accessing and updating information, as well as easily sharing resources with others.

You should use these functions rather than VLOOKUP if you are looking for data that could be anywhere in your spreadsheet. Being able to find data quickly in all your values is extremely useful. The FIND function allows you to isolate small, specific data, while the LOOKUP function allows you to perform a wider search. There are numerous possible fields missing from the standard Excel template to consider – simply add these as new columns to your XLS. These spreadsheets are only good if people keep them updated, so updating as you use/consume those parts is essential.

If they do – and the odds of them having barcodes are high – then consider investing in a barcode scanner. Instead of manually entering inventory items, or counting them yourself, you can just scan each item with the barcode scanner. Measure and track Key Performance Metrics using this dashboard template from Someka.net. Some of the KPIs are responsiveness, quality, inventory reduction, compliance, and profitability. Create a parts list for your assembly or a materials list for your product.