This template can help you get started, and provides a fun example of a visual BoM. Microsoft Office also has another free Home Inventory template that provides a bit more detail. There is more opportunity to track the value of items by each room in your home. Whether you own a restaurant or other food service company or just want to have the most organized kitchen in town, there are some free templates designed for tracking food, beverages, or both.

This template is specifically for tracking software, which sets it apart from other asset inventory spreadsheets. You can easily locate where certain software was installed, access supplier and purchase information, and view license renewal dates. An inventory sheet can be created in Excel by opening the excel form and naming the columns as needed and then by saving the form with the required name. The Content Inventory Template is the most used inventory template by many users. The inventory templates can be used for various purposes to maintain the list of the products in small/big organizations.

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Thus to keep the stock of the company in check and to avoid any mishaps the inventory templates are extremely useful. We’ve compiled a list of the best 20 Excel formulas that product managers should utilize, as well as a downloadable product inventory spreadsheet template. One way to overcome this obstacle is by making use of Excel formulas for inventory management. These can save your product team time when locating, adding and editing data, providing shortcuts for finding and combining data. In addition, with the correct use of formulas within your inventory management spreadsheet, it’s easier to extract analytic conclusions and better inform business decisions. In case of a natural disaster, fire or burglary, having a home inventory spreadsheet can make life a whole lot easier.

It’s easy to check which products are sold out and see which goods are currently available. Learn how automated inventory management systems make it easier to track your production cycle. We’ve also included pre-built templates from Smartsheet, a work execution platform that empowers you to better manage your inventory operations with real-time collaboration and process automation. Every business’s needs are different, but we found that you can’t go wrong creating these three main tabs on your Excel inventory tracker. We recommend entering all your orders, sales, and inventory counts on the following tabs. Once you have decided on how you are naming your items, type them into a single column.

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While it might seem like a chore to track all of these items, there are several benefits to using Excel inventory templates. Inventory list templates can be used to keep track of items in stock by listing their names, descriptions, and unit prices. Additionally, the Excel inventory template lets you keep track of reorder levels, reorder times, quantities to reorder, and discontinued items.

If you’re in the beverage business or also need to track this inventory, Spreadsheet123 also has a free Beverage Inventory template. This helps a business control in-house beverage inventory, track costs and measure profitability, and identify key lines. Spreadsheet123 offers a feature-rich, and free, Food Inventory template that allows you to manage food sales and inventory. It has several tabs for inventory, purchase logs, stock counts, and weekly reports. On the Settings tab, you can even enter information for your country currency, tax rates, weekly staff meal allowances, and category titles. To save you time, Excel Chat has researched the top resources for free Excel inventory templates.

If you’ve never created your own system from scratch, however, it’s tricky to know where to start. Depending on which country you are based in, you can adjust the settings for local tax rates. In addition, it has customizable currency, text, and measurement settings. This template from the no-code platform Sheetgo is an automated system containing pre-built Excel functions. Discover how to effectively manage and control inventory without sacrificing profits.

Simple Inventory Template

If you’re not interested in doing manual counts of your inventory every day, you could create another tab just for conducting physical inventory. This tab would list all your products by item number, as well as a place to record physical counts of each item. Again, you can choose to make this tab as simple or complex as you like. We think the data points listed above should be sufficient for most businesses, but you’re free to add more columns if you want your inventory tracker to monitor other factors (like bills of materials). Some of these data points will also be the same as in the Products tab above. This helps keep your business organized and ensures the right information is present for your tracking.

The inventory template is a list of all inventory that businesses use in their daily operations. There is usually a place to note when to reorder and how long it will take to get the materials in stock. Automations can be utilized to track incoming customer orders and create purchase orders, saving you even more time. Automated entry also reduces the risk of mistakes in your database, meaning you can spend less time scouring your spreadsheets for human errors.

Improve Demand Planning with Inventory Planner

You can use these copies to record inventory data each time you take inventory. Over time, you’ll gather meaningful information about how your business uses inventory. Before you begin entering data in Excel, make a list of categories and calculations that you’ll need for inventory tracking. Part of managing inventory is stocking your warehouse and making sure you always have what you need when you need it.

• More advanced solutions like Inventory Planner provide more granular analysis much more quickly.
• Since this is a free excel template already created for you, it’s also a quick way to track your valuables.
• By taking the information from your Excel sheet and transferring it into other formats (charts, tables, graphs, etc.), you can spot trends and problems over time.
• Keep track of your software and hardware purchases, license expirations, and upgrades to make managing software inventory easier.
• Now that you’ve set up your spreadsheet or chosen your template, you can begin to input the fields that are specific to your business.

Inventory Planner doesn’t just predict sales and gives inventory purchasing recommendations. It also provides an intuitive reporting functionality, which provides you in-depth insights on your inventory performance. You can easily identify your top-sellers, slow-moving products, items that are draining your cash or inventory that has been sitting there for too long. Another issue is the inventory management Excel spreadsheet is usually built by one person in a company who is knowledgeable about Excel and inventory management basics.

It was an uphill battle Death Wish was quickly losing, until they did a search for ‘Shopify inventory management’ and came across Extensiv. After an enlightening conversation and a few convincing screenshots, Death Wish officially teamed up with Extensiv. And since management software contributes to greater accuracy, in turn, it minimizes the time spent addressing or auditing errors to ensure manual data points are precise. So on top of reducing the time your team spends on data oversight, inventory software guarantees a lower overhead, as well. Thanks to these developments, you can opt to reassign your team to more vital tasks, and worry less about the potential for errors to pop up. This cross communication is courtesy of savvy software integrations that connect to your existing management solutions.

To better keep track of what’s in the warehouse, you need our free inventory template for Excel. The bigger your business, the bigger your inventory management spreadsheet will need to be. So, for larger businesses, trying to constantly update a spreadsheet with thousands upon thousands of entries becomes a time-consuming task.

Use this template to track metrics like the cost of goods sold (COGS), inventory turnover rate, sell-through percentage, and conversion rates. Although some large companies prefer to use specialist inventory software, these programs can be expensive and overly complicated for SMEs. At Business.org, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services. This helps you monitor your supply chain and keep up with any outstanding orders.

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Manually tracking inventory can be a chore and leave you open to errors, which is why using a tool like Excel simplifies this process. Even with these free inventory templates, you might not find something that exactly fits your needs or could run into trouble with one of the formulas. Smartsheet offers a free Equipment Inventory template that can help a business track all of its equipment in one place. In addition to letting you know when it’s time to replace or upgrade equipment, it also has several columns that let you know about inventory costs and usage. If your business uses any equipment, you will want to keep track of it for financial reporting, insurance, operating, and tax purposes. Since this is a lot of data, you can simply remove the columns that you don’t need from any free inventory template.

There are a ton of different types of free inventory templates to choose from depending on your needs. Not only is effective inventory management vital for a business, but it can also be useful at home. Businesses need to keep their operations running efficiently by managing stock to avoid shortages or surpluses as well as figure out which projects are performing the best. A homeowner might want to keep track of personal possessions for insurance purposes, storage, to plan an event, or just to stay organized. The RANK function allows you to order values in a numbered list based on their value relative to each other. This is helpful when you want to tangibly see which products are selling most or least, what has the highest stock value or which product you need to order the most of.

Greater accuracy in your inventory databases means that you have a better representation of exactly what stock is in your possession and how much is being shifted. This means that any conclusions you draw on your production, sales, marketing, purchase orders etc. will all be more reliable and meaningful. The CONCATENATE function allows you to combine different types of data from multiple cells into one cell.