Author : Nadine Becker.
Published : Tue, May 7 2019 :12 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.
The good inventory management software not only can take on this task for one business, but for those that own multiple businesses or have multiple separate locations, its can keep separate records and do these tasks for each of these companies or locales.
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.
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If you are considering making an inventory app on your own, you will need to begin the process with a spreadsheet and there are some great Excel inventory management templates. The following sections describe some free inventory management excel templates that can help you get started. Of course, you can just use the templates and adopt them to your own business needs or you can turn them into apps—it’s up to you!
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. Advertisement.