Inventory management with Excel is a simple solution, easy to reach, extremely useful for shops, small business or individual business. In this article, AccNet will guide details step-by-step how to manage the quantity of goods star for users to understand, easy to carry.
1. Using software inventory management
- Step 1: Install software inventory management (for example: AccNet Inventory - Top 1 should buy) depending on the size of the business.
- Step 2: Enter the entire information about the items in the software, including the product name, SKU code (commodity code), quantity, unit price and other characteristics (size, color, etc.).
- Step 3: Install the system to automatically update the numbers when there are deals warehouse import or export warehouse. The software will automatically calculate the remaining number.
2. File inventory management with Excel
Below is a sample file inventory management with Excel simple, easy to use, suitable for personal, business, or small business. File structure inventory management with Excel consists of 3 sheet key:
List of goods
| Item code | Name of goods | Unit | Admission price | Sale price | Notes |
Warehousing
| Date of entry | Item code | Name of goods | Number | Admission price | The money | Notes |
Export warehouse / Sales
| Sale date | Item code | Name of goods | Number | Sale price | The money | Notes |
Create sheet Total inventory (formula automatically):
| Item code | Name of goods | Survive the beginning of the period | Enter | Cumshot | Survive the end of the period |
You can download the template file to manage the number of goods in here:Recipe template: Survive the end of the period = [Preserve the] + [Total Income] - [Total Production]
(You can use the function SUMIFS to calculate the total income, total production according to sku)
3. How to manage the quantity of goods thanks to the classification of goods
- Step 1: divide the goods according to the group, the nature (for example, sales are fast, sales are sluggish, or you need special storage such as food, drugs).
- Step 2: Create the SKU code for each type of goods. Each SKU code will help to easily track, classification of goods. For example, the SKU code for a product can be "AQ123," in which "AQ" stands for the type of products (clothing), and "123" is the unique code for that product.
- Step 3: marking or labelling of products in stock to get to know quickly, especially for goods that require preservation separately.
4. How to manage the number of goods in process inventory periodically
- Step 1: schedule inventory cycle (monthly, quarterly). Ensure that all warehouse staff know the date, time and inventory.
- Step 2: Check the actual number of each item in stock, comparison with data in software.
- Step 3: If errors are detected (goods missing, damaged), recorded, adjust the metrics in software. May have to investigate the cause of loss or damage.
5. Set inventory levels, minimum, maximum
- Step 1: first, in how to manage the number of goods is to determine the minimum of inventory for each item. This is the number of goods, the lowest you can have in stock that do not affect the business operation. For example: if an item consume on average 100 pcs/month, you can put the inventory levels, the minimum is 100 pcs.
- Step 2: Determine the inventory levels, the maximum to avoid inventory too much, increase the costs of storage. For example, if you find that 200 pcs orders is sufficient for a month, then the maximum possible level is 200 pcs.
- Step 3: Install automatic notifications in warehouse management software to notify when goods reach the minimum of inventory, helping you timely ordering additional.
6. How to manage the quantity of goods thanks to the application method, FIFO or LIFO
- Step 1: Choose the right method for the type of goods. If you sell the product have shelf life (such as food, drugs), should use the FIFO (First In, First Out). The products enter the warehouse will be sold first.
- Step 2: mark the goods according to the date of entry warehouses to ensure that products will be sold in advance. This helps minimize the risk of goods is expired or damaged.
- Step 3: If applicable LIFO (Last In, First Out), please give priority to sell the products enter the warehouse, more recently, often applied to items not limited to use as clear as building materials.
7. Forecast the demand for the commodity
- Step 1: Based on sales data in the past, trend analysis, consumption goods according to the season. For example, if you sell clothing, summer will consume many t-shirts, swimwear over, you need to prepare goods for this season from before.
- Step 2: Use warehouse management software to keep track of the consumption monthly. You can view sales reports, to identify the products tend to sell running in long time.
- Step 3: Forecast demand for the next month, and plan to enter order to avoid shortage of goods.
8. How to manage the quantity of goods when process optimization, import, export warehouse
- Step 1: build process warehousing clear. When receiving goods from suppliers, check back numbers, quality of goods before entering into warehouse.
- Step 2: Make sure that the goods after entering the warehouse are recorded properly, in detail in the software. Note information such as the date of entry, supplier, of the goods value.
- Step 3: Determine the export process, warehouse, clear, noting who is the top reason of stock (for example: retail, shipping, warehouse other, etc.).
9. Inventory management slow
- Step 1: manage the number of goods is keep track of the items that speed slow selling in stock. Can use the report in software to determine what this item.
- Step 2: consider the strategy discount, promotion, or liquidation for the product inventory so long. This will help reduce the costs of storage, freeing up space for new merchandise.
- Step 3: periodic review of the inventory items long to take measures to timely treatment, avoid goods damage or decrease the value.
10. Report and analyze data warehouse
- Step 1: Create the report shed periodically (monthly or quarterly) to monitor the level of inventory, the pace of sales, profit from inventory.
- Step 2: analysis of this data to optimize processes, import, export goods, improvement plans, demand forecasts, reduce the costs of storage.
With instructions how to manage the quantity of goods on, you absolutely can actively control import – export – inventory science. If you later want to upgrade to system software professional, starting from Excel will also help you have data platform firmly to switch easily.
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