Stock Inventory Control Template
Any inventory clerk or accountant will agree that stock inventory management is crucial to any business that must maintain an inventory of merchandise, equipment, tools, or materials. But as all inventory clerks know, keeping track of inventory is hard enough without worrying about inventory optimization.
Many large companies use complex inventory databases to minimize excess inventory, but these systems are costly and difficult to setup. If you are a small or medium size company, or just need something to get you started, check out our simple inventory control solution that includes an Inventory Control Spreadsheet template, a Physical Count Sheet and an Inventory Label template. Continue reading below the download block for additional tips and information.
Inventory Control Template with Count Sheetfor Excel
Vertex42's Inventory Control Template will help you get your inventory program started - including reducing surplus inventory and processing inventory updates.
Tips for Using this Inventory Template:
- Use the main Inventory Control worksheet (see screenshot above) to keep track of locations, minimum stock levels, in stock inventory, parts on order and parts on backorder.
- The Inventory Control sheet will highlight reorder levels when it is time to reorder. To decrease surplus inventory keep the reorder levels as low as possible without jeopardizing production or sales.
- Use the physical Count Sheet for manual inventory audits. Once collected, update your Inventory Control Sheet.
- Make sure to include both internal and external part numbers so items can be easily and correctly identified.
- Use the status field to track the life cycle of a part from pre-production through obsolescence.
- Print inventory labels using the Label worksheet.
- Use the Suppliers worksheet to keep track of supplier contact information.
"No installation, no macros - just a simple spreadsheet"
Other Inventory Templates
- Looking to track fixed assets such as equipment, hardware and furniture, check out Vertex42's Asset Tracking Template – a simple solution for equipment tracking.
- Are you responsible for keeping track of software compliance and computer hardware? – try Vertex42's free Software Inventory Tracking template – a great way to get your software inventory in order.
More Inventory Resources
- Good Inventory Management Information for Small Businesses at sba.gov – A collection of good basic information and tips for good inventory management geared towards smaller companies.
- Stock Control and Inventory at gov.uk – A series of web pages with great information about setting and managing stock levels.
- Inventory Count Procedure at accountingtools.com – Here are some accounting guidelines for preparing and conducting a physical inventory count using inventory sheets.
- Best Practices for Accurate Physical Counts of Inventory at gao.gov – The United States General Accounting Office's best practices for counting inventory.
- Calculating The Best Reorder Point at scm.ncsu.edu – Brief article that describes a formula to determine the best reorder point if you want to get fancy. There are other good articles on other inventory issues.
- Reorder Point Calculation Example at Microsoft.com – A great little tutorial on how to calculate an optimal reorder point best of your target service level.