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 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 Models and Product Names.
It is best if you can also add the description, 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.
You may purchase the excel template in my ETSY.