Author : Jennie N. Moore.
Published : Wed: Nov 27 2019 :7 AM.
Format : jpg/jpeg.
Many companies possess an inventory which consists of a stock of goods. These goods may be articles for sale. Alternatively, it may be material or equipment required for production. In short, a firm’s inventory may consist of finished products, raw material or partly finished goods which are in the process of being manufactured. In all cases, this storage is of great value. It is an investment made by business owners and shareholders. Therefore, the importance of inventory management and control is immense due to several reasons.
Using the Excel inventory templates can be extremely beneficial. First and foremost they are absolutely free of cost so an organisation doesn’t need to spend large sums of money to hire a professional stock / store keeper. Secondly the templates are beneficial because they allow the user to keep proper tabs of their stock and thereby prevent any mishaps, confusions and losses. Lastly the Excel inventory form templates are beneficial because some of them aren’t product specific and can be used by companies and stores of all sizes and types. Thus, the Excel inventory templates can be extremely beneficial and useful to almost anyone and everyone.
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.
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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!
Spreadsheets are a vital tool in tracking and managing inventory for all sizes of business. Using Excel or Google Sheets to manage your inventory is a low-cost, and straightforward way. Although some large companies prefer to use advanced inventory software, it can be quite costly and complicated to introduce these kinds of systems.