Companies, regardless of size, may face issues with stock disorganization leading to losses like product wastage, unnecessary purchases, or disruptions in the sales chain. To prevent such situations, utilizing a stock management spreadsheet can be beneficial.
This tool offers a structured system that can be regularly updated, enabling the monitoring of inputs and outputs, forecasting purchases, and preventing losses. Consequently, it represents a utilization of technology to benefit businesses.
Learn how to access pre-made spreadsheet templates for managing stock levels.
What is the significance of managing inventory?
Stock management is essential for business operations as it has a direct impact on financial control. It enables monitoring product availability, anticipating replacements, and preventing both surplus and shortages.
When conducted correctly, this management enhances cost savings, boosts cash flow, and optimizes capital turnover.
Having proper stock management minimizes the chances of losses from spoilage, malfunctions, or unnecessary expenses. Analyzing consumption trends aids in making informed choices regarding procurement, marketing strategies, and overall storage practices, thereby enhancing operational effectiveness.
The control also has a significant strategic influence, allowing for the setting of more practical objectives by aligning logistics with the commercial sector and enhancing the customer experience, thereby preventing delivery delays or sales disruptions due to product unavailability.
A stock control spreadsheet is utilized to gather and convert data into valuable insights that assist in making business decisions.
How to make a worksheet for managing stocks?
It is beneficial to know the fundamental layout of the worksheet to help select the most suitable tool. The data should be arranged to mirror the actual flow of product movement, featuring clearly defined fields that can be updated daily.
It is important to have sections like inputs, outputs, balance, and observations. Inputs include products added to stock, while outputs are products leaving storage. The balance shows the difference in numbers, and observations provide additional details like validity or location.
When designing this spreadsheet, you may include additional information like barcodes, product names, categories, and locations. Segmenting different types of items into separate tabs can be beneficial for companies with a high volume of goods.
The aim is for the inventory tracking spreadsheet to be easy to update regularly and assist in making decisions.
In Excel
Creating this tool in Excel provides the advantage of greater control over formulas, formatting, and automations, allowing for reduced manual errors and easier calculations by following a default structure.
The SOMA function deals with total inputs or outputs, while the SE function enables the setting of alerts for specific stock conditions like total products or minimum volume.
PROCV allows for the creation of custom search relationships, like names or codes, while conditional formatting can emphasize products with low stock levels.
Excel offers additional features like protecting cells with formulas to prevent unintentional changes, creating drop-down menus, and generating charts for visual data analysis.
Google Sheets is a spreadsheet program.
The primary advantage of using Google Sheets is the option to work together in real time, as it operates on the cloud. This allows multiple users to update the spreadsheet simultaneously with all changes centrally stored, unlike traditional local files.
Teams working in various shifts or departments find this feature crucial for enhancing work efficiency. Moreover, it offers great accessibility, allowing users to view and modify the spreadsheet across multiple devices with internet connectivity.
The integration of the worksheet with Google Forms allows for the creation of a form to record inputs and outputs, streamlining data entry and minimizing the chances of mistakes.
Stock Control Sheet on a monthly basis at Sebrae
Sebrae, a Brazilian organization that supports micro and small businesses, describes stock control as the complete management of a company’s products and raw materials, including overseeing incoming and outgoing materials.
The organization offers various templates, like the monthly inventory tracking sheet. It includes fields for tracking dates, quantities, and costs of goods (inputs and outputs). Additionally, there is a section for management to assess stock levels and determine if any products need to be purchased or if there is excess inventory, along with checking the expiration date of the last batch of purchased products.
To access the file, visit this link.
Excel’s highlighted stock inventory.
This Excel spreadsheet for managing stock is one of the templates provided by Microsoft.
The text mentions the need to track stock items for replenishment, display total value data, highlight new orders with conditional formatting, and list discontinued products.
The tool is a choice available for the small business owner.
To access the download page, simply click on this link.
Stock and inventory management — Sebrae
A more comprehensive worksheet provided by Microsoft in its free templates, the warehouse stocksheet offers enhanced organization for users. It includes sections for entering the SKU code, product description, storage location, and stock quantity.
Microsoft states that the warehouse stock model offers features such as printing selection lists, receiving reorder notifications, accessing box information, and managing stock values.
Click on this link to reach the download page.
Production Control Inventory Record
Manufacturing companies must have a clear understanding of their input usage and production output. Stock control goes beyond just managing inventory movements; it also involves tracking the transformation of raw materials into finished products.
The stocksheet needs to include designated fields for the production process to pinpoint bottlenecks, losses, and efficiency improvement opportunities.
The eGestor production control worksheet includes sections for recording raw materials, production recipes, and monthly monitoring. Materials are deducted from inventory as products are manufactured.
There is also a production balance panel and final stock available for monthly monitoring, making it easier to track losses and plan purchases.
Get the worksheet free of charge.
Product Registration Stock Sheet for the number five.
Maintaining the stock’s accuracy and organization relies on proper cataloging of products, including crucial details like code, name, category, and supplier in a centralized location to minimize errors and enhance customer service.
Companies that handle a diverse range of products, like retailers, wholesalers, and distributors, find this type of inventory management spreadsheet crucial.
The eGestor product control worksheet consolidates data for each item, providing visibility and organization to prevent losses, enhance control over inventory movements, and assist sellers with valuable insights.
Access the spreadsheet free of charge.
ABC stock sheet curve
The ABC curve is a method of categorizing products to determine their importance to the company’s revenue. It can be used by analyzing the value, volume, or contribution margin of the products to guide decisions on restocking, pricing, and promotions. Products are classified into different categories using this method.
- The most crucial ones, which are responsible for the majority of the outcomes.
- B – those that are moderately important, with typical representation.
- Those who are less represented in the outcomes.
This model allows for more strategic inventory management by prioritizing high-impact products and minimizing risks associated with slow-moving items.
eGestor’s ABC curve sheet streamlines the sorting process by automatically calculating the total stock value and categorizing products based on turnover, considering quantity and unit price. Additionally, users can generate charts for a clearer visualization of the data.
Get your spreadsheet checked at no cost.
Box Front Stock Sheet – Front of the box inventory sheet
It is crucial for retail businesses, especially small and medium-sized ones, to monitor stock movements in real time. Using a stock control worksheet can simplify this task.
The tool enables you to compare sales data, receipts, and restocking information, aiding in identifying instances of surplus or shortages. This functionality is particularly beneficial for businesses with frequent sales and fast product turnover, assisting in decision-making processes.
The eGestor box front sheet simplifies this type of monitoring during purchases. It not only records customer information, but also logs each sale in detail and provides sections for extra costs. The document compiles cash flow information, which is essential for financial planning.
Get your worksheet by downloading it here.
Check out financial control spreadsheet options to keep track of information and aid in planning resource use and meeting obligations.
How to decide on the most suitable stock control spreadsheet template?
The choice of the most suitable stock control worksheet relies on the company’s circumstances, requirements, and activities. The initial factor to evaluate is the nature of the operation, as businesses dealing solely in buying and selling finished goods may opt for more basic templates.
Industries and businesses that produce their own goods may require more advanced models that take into account input production and consumption.
Considering the quantity of items, particularly in terms of products, is important. The more diverse the inventory, the more intricate the management becomes, necessitating suitable models for monitoring and organization.
The technical expertise of the team should be considered, as familiarity with the tool enables access to advanced capabilities.
The stock control spreadsheet is a valuable tool for businesses looking to enhance efficiency, organization, and decision-making in product and storage management. It helps prevent losses, reduce costs, and enhance decision-making by providing suitable models for various operational requirements.
Would you like to efficiently manage the financial well-being of your business? Explore the possibilities of budget spreadsheets.
