Inventory Management - Control & Tracking Template
Originally published: 05/03/2021 07:21
Publication number: ELQ-17324-1
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Inventory Management - Control & Tracking Template

Highly-sophisticated and user friendly Inventory Management & Tracking Template suitable for any type of business.

Description
General Overview

Fully customizable and easy to use template aiming to assist users in managing and tracking Inventory.

General Instructions

• Please fill only the input cells (Blue Font Color)
• Template uses FIFO method for managing inventory

Inputs

Products & Suppliers Section

These 2 Tabs are used to register and manage products and suppliers. It is mandatory to fill in all the input columns for the template to function properly
Inputs on these 2 tabs will be used on other tabs, preventing repetitive typing of data
• Products: Fill in the ID, product name, opening inventory, date of registration, average unit value and minimum inventory level.
• Suppliers: Enter Suppliers contact info

Inventory Movement Section

• Inventory IN Tab : Fill in the data in the input cells for all inventory purchases
• Inventory OUT Tab : Fill in the data in the input cells for all inventory sales.
• Total Inventory Tab : Fill in the data for the physical inventory. Usually this column is updated and the end of a period (month or Year)

Outputs

Inventory Control Section

A real-time list with updated inventory information, plus indicators such as current inventory compared to the Minimum Inventory Level, average unit value, total inventory value, number of incoming and outgoing inventory and adjustments for each product registered.

Analysis & Charts Section

• Quantity & Value Analysis
Displays the summary and evolution charts of the quantity and value of products in inventory from month to month and displays amounts for opening, In & Out, current and closing total inventory at the end of periods.

• ABC Analysis
Check the products that represents the largest volume of movements.
The evaluation criteria are current inventory quantity, total inventory value, quantitative balance of purchased and sold items
The ABC Analysis criteria was defined as follows: Accumulated share up to 80% = "A", up to 15% = "B", up to 5% = "C"

• Product Analysis
Select a specific product to evaluate its evolution in quantities and values ​​as well as a graphical summary of the transfers and an inventory summary panel.

• Dashboard
Visual representation of inventory key performance indicators

For any queries or modifications, please feel free to contact me via private message.

This Best Practice includes
1 Excel Template

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Further information

Assist users in controlling & tracking inventory

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