Author : Beverly R. Pinto.
Published : Fri: Nov 8 2019 :12 PM.
Format : jpg/jpeg.
Spreadsheets are a great tool to track your stores inventory, list all of your products and supplies and resources, and log whenever anything added or taken out. The only problem is, it can be tedious to update and edit your spreadsheet every time a new product is added to your stock or a new sale is made that decreases your inventory.
Numerous useful ways are accessible in these days to track inventory and one of them is using inventory tracking spreadsheets. A detailed inventory tracking spreadsheet loaded with accurate figures tells the inventory manager that how much inventory the business or company has on hand and when to order inventory to maintain inventory level according to the policies of company or business organization.
A well-organized inventory is necessary for running business operations smoothly. It leads to a trade-off maintained between carrying costs and ordering costs. As a result, a company’s profitability is enhanced since the overall cost of the inventory is minimized. In addition, proper management also facilitates the maintenance of adequate stock. This is vital for smooth production.
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Stock-outs, on the other hand, can be disastrous for a business. It may delay the production process and turn away clients. Overstocking must also be prevented. When the number of stocked articles exceeds the requirements, it can be a burden on a company’s finances. Therefore, a well-organized inventory creates a balance between a firm’s requirements and the production.
Why the trend? Businesses and organizations are automating data capture by tracking and updating inventory data in real-time through bar code scanning or image capture. What does an Excel spreadsheet have to do with this? Well, it’s actually a great starting point for creating an app that automates the inventory management process for you. My recommendation: Start with a spreadsheet and turn it into an app using an app maker platform like AppSheet’s. Of course, we’re not the only platform out there but we’re the only one that can easily take a spreadsheet and turn it into an app!