This is made possible due to the formula: =IFNA(INDEX('Inventory Details'!$B$3:$G$17,MATCH('Daily Sales'!$C4,'Inventory Details'!$B$3:$B$17,0),4),"") To simplify manual input, we included a drop-down list of all the products. The second tab should be used to track your daily sales. The first tab serves more like a database of all inventory available. You can also include comments as they help jog your memory of products details or your conclusions on some deals. The first tab – Inventory Details – contains Product Name, Brand, Colour, Product Selling Price, Beginning Available Quantity, and Date Updated. It is done in the form of a workbook with three tabs. Here is a simple Google Sheets inventory template with pre-filled information and some basic formulas to show the power of inventory tracking. Without it, you won’t be able to provide sufficient customer experience, improve cash flow, and grow your company. If you are in retail, whether offline or online, inventory management is at the heart of your business, one way or another. How to Visualize Shopify Data in Data Studio? Retail inventory Google Sheets template But with some auxiliary tools, like Coupler.io, even these limitations can be tackled. For example, you need to make manual entries and can’t scan QR codes and barcodes, unlike more sophisticated inventory management software. Of course, it has some limitations as well. Google Sheets is a customizable and cloud-based tool that can be easily used by multiple team members. But, for a small business, it is actually an unnecessary luxury, and Google Sheets is a great starting point to start tracking your products, profits, and needs at little or no cost. Most big e-commerce operators and retailers use dedicated inventory management software to plan, coordinate, and control every aspect of their inventory. Why use Google Sheets for inventory management templates? If you wish, you can include formulas and calculations in your spreadsheet, or you can create a workbook with interdependent spreadsheets, or tabs, each displaying different calculations. For example, you may also want to track expiration dates, add customised notes, pictures, videos, links, etc. Some of the headings may be excluded, and some may be added. This list may vary depending on your business’s needs. What data should an inventory template contain?Īn inventory template usually includes the following item’s: Here is where an inventory template can come in handy, because a detailed input of all your inventory will ensure a bullet-proof check-up of inventory status and value. Accurate, real-time stock information helps you get clear visibility of your stock and make the right top-level business decisions. Therefore, it is so important to keep all your inventory organised and tracked. Also, you not only spend money purchasing the materials, parts, and components, but to store and manage all that material. But inventory is an investment that requires substantial financial inflow and makes it impossible to keep costs down. No business wants to miss a sale because of a lack of inventory. To keep your customers satisfied and ensure fast delivery, you may need to hold on to extra inventory. These two aspects often conflict with each other. Inventory management aims to keep the balance between maintaining the right amount of inventory to satisfy your customer and cost reduction. It may not only be something your company sells, but also stuff your company uses, such as laptops, software or even work suits. Products, in this case, can be anything – raw materials, work-in-progress, equipment or finished goods. What is an inventory spreadsheet template?Īn inventory template is a spreadsheet with an itemized list of every product your business has in stock, and it is used to record inventory levels and track inventory turnover. This will remove the need to Google how to create one your own.īut, so we are on the same page, let’s first define what an inventory template is, what data it should contain, and why Google Sheets can be a perfect tool for the task. Well, we can’t make it fun for you (though there is some hidden beauty in all those tables and numbers), but we can definitely make your life easier by providing some ready-to-use inventory templates. Updating your database every time a new product is added or an order is placed, and recording every transaction and shipment is a tedious task, let’s face it. In other words, inventory management is the science of getting the stock you need to the right place, at the right time, and for the right cost. What is “ inventory management”? Put simply, it means tracking your store’s inventory, listing all of your products and product-related info, and logging whenever anything’s added or taken out. Do inventory templates for Google Sheets make our lives easier? Inventory management defined
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