So you are a small business owner, say a retail shop.
You've got the sales going and now you want to track how your business is doing...
Or you probably have 1 or 2 employees.
So now you want to track and manage your inventory.
This is the spreadsheet template you need for tracking your retail business inventory items in the most basic way.
Benefits of tracking inventory
Manage planning and forecasting
✔️ minimize handling and holding costs
✔️ minimize lost sales, and
✔️ improve cash flow
Improve delivery lead time
When you are able to forecast the
✔️ faster transactions (from sale to fulfillment)
✔️ take care of your good reputation by making sure you have the stock when you commit to a sale
Reduce the time for managing inventory
I have experienced first hand how difficult and time consuming it is to count the inventory. What more when you get lost of counting and have to get back? It's so frustrating. With a good inventory tracking, you save up a lot of time that would have been spent on counting and recounting.
✔️ Save time and labor for counting inventory
When should you update your inventory?
It's best to update your inventory weekly.
Excel Solution (or Google Sheets) Template
For the excel template, make sure you list out the Item Details first. List the Product Code, Product Names, Unit Cost and Sell Price.
It is best if you can also add the Notes, but it is optional if you are the only user of this sheet in your organization.
You may watch the short video instruction here.
This has vba program included which can highlight the items that need to be replenished and the discontinued items.
Since this has VBA program, it will not work perfectly with GSheets, Numbers or Excel for Mac.
If you need it in GSheets, please message me so we can configure it.
In Summary, inventory has always been important for product businesses. Without a good inventory management, you lose control of your profitability.
This is the most basic spreadsheet template you need for tracking your retail business inventory items.
#excel #exceltemplate #template #spreadsheets
#retail #retailstores
#inventory #physicalinventory
#inventorymanagementsystem
#guide
You may purchase the excel template in my ETSY.
ORDER NOW
If you've been following me, you'll know that this is an upgraded version of the my previous published post / excel template for retail inventory
Excel Template for Simple Retail Inventory Management
Key features upgraded:
- highlight items for Reorder with checkbox
- conveniently see the Value of Current Inventory
- discontinue product with checkbox
- easily customizable for start date, frequency to track inventory, currency
- expanded up to 100 items
- highly intuitive colors / format / layout
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