Inventory template in Excel

Do you need a way to manage stock levels in your retail business, office, restaurant, or clinic? Chances are that you already use Excel to store and manage a lot of your company data such as accounting and sales. When it comes to inventory management, however, many small businesses still rely on cumbersome and unreliable manual methods. These include paper-based lists or ordering fresh stock only when someone notices that supplies are running low!

An organized and digitized inventory management system will save you money, time, and help you run a more profitable business. Only buying what you need will reduce the risk of stockpiling, over-ordering, and wastage. On top of that, ensuring you have adequate supplies will keep your customers happy and production systems running smoothly.

Inventory management software isn’t cheap, however, and it can be overly complex for a small company. Instead of paying for an expensive stock control program with functions that you don’t need, you can set up an automated stock tracking system — with an inventory template in Excel.

Why use Excel for stock control?

• Flexible: Excel files are easier to adjust and adapt than specialist inventory programs. This allows you to build your own stock management “software” entirely in spreadsheets. When things change, you can just alter the spreadsheet.
• Accessible: Excel for the web is cloud-based, so anyone on the team can log into their spreadsheets from the Microsoft Office webpage. You and your colleagues can access the connected Excel files from anywhere — while knowing that the data you’re viewing is always up to date.
• Compatible with everything: Every other piece of software in the world integrates with Excel. This means you can connect data from other company processes and departments with your inventory system.
• Easy to use: Most office employees have some familiarity with Excel, and if even if they don’t, it’s easy to learn. Plus you can update and maintain the system yourself without any coding or expert IT skills.

About the Inventory Excel template

Sheetgo’s Inventory Excel template is a pre-built spreadsheet template to streamline inventory tracking. It’s suitable for companies of all sizes, whether managing raw materials or any other product.

The Sheetgo inventory template provides an automated system that allows you to track stock control and inventory. You can use this system to check items in and out, monitor stock levels, and share data with warehouse, office, or shop staff.

Download the Excel Inventory template

Click the button below to get the template.

What you get with this template:

The Sheetgo inventory template in Excel contains four sheets, each with a different purpose:

1. Dashboard: Where you can see the most important information in a format of charts and big numbers.
2. Current inventory list: It contains the inventory list of items that pulls data from the other sheets. No changes should be made to this spreadsheet.
3. Check-in: This sheet is where you will check in items.
4. Check-out: This sheet is used to check items out of the inventory.

How to use the template

Step 1: Remove sample data

You’ll notice how the ‘Check-in’ and ‘Check-out’ tabs contain sample data.

Remove this data from within the white cells so you can replace it with your own in the next steps.

Step 2: Enter data in Check-in and Check-out

Once you remove the sample data from the ‘Check-in’ and ‘Check-out’ tabs, the ‘Current inventory list’ and ‘Dashboard’ tabs should appear empty.

The ‘Check-in’ tab is where you enter all items you currently have in stock, whereas the ‘Check-out’ tab is used to log sales or items that leave your inventory.

And there you have it! In four simple steps, you have downloaded and set up the Inventory management template in Excel.

Inventory management in Excel

This standalone inventory management template in Excel is a great way to monitor and keep track of stock levels using a tool you already know: spreadsheets. Rather than spending time and money on new software, this inventory management template is an effective and affordable solution.

If you prefer using Google Sheets, take a look at this blog post on Inventory management in Google Sheets.