Looking for stock management in excel sheet template? Stock management or inventory management is the process of maintaining and controlling the inventory for the better handling of the project. It includes the purchases, sales and the orders of the project. It make sure the availability of the supplies at the time of distribution.
Stock management in excel involves the proper management of purchases, better storage of product, dispatching and reporting of the deliverable. In addition, it also include the Analyzing the sale product wise and highlight the stock movement.
What is Stock in Inventory management?
Inventory management is very necessary step in the business, therefore, excel provides a spreadsheet for the proper management of the inventory and stock. Improper inventory will leads you towards the loss as it does not satisfy the customer requirements.
The other benefits of the stock management in excel are as follows
- Keeping the storage in excess causes an extra expense on products and eventually causes an additional expense. Therefore it reduces the storage cost
- If you purchase excess products, eventually it leads to higher dead stock. Stock management and tracking help in detecting the running product, so it is helpful in sensible selection of product for your inventory
- An appropriate amount of stock help to reduce the risk of theft by the employee and makes the handling easy
- Now a days, when the competition is at its peak, availability of product is very necessary. Proper re ordering system and the execution within time satisfy the customer
- If you manage the stock in better way, eventually it decreases the processing time
- Stock management indicates the forecasting sale
So the stock management template is use by most of the businesses to make their working manageable and manner able.
Contents of Stock Management in Excel Sheet
Stock management template consist of predefined formulas. You can insert the inward and outward inventory. And you can customize the template according to your requirement. The contents of the template is divide into two sections the heading section and the inventory section.
First there is a heading “the inventory control sheet”, there is a box next to the heading. If you click on it, it highlights all the products need to be re-order.
Inventory control ID: here a unique alphanumeric ID is given to each product
Product detail: it contains the name of product
Price: it contains the price per unit
Quantity in stock: it is calculated by subtracting the quantity sold from quantity purchased.
Quantity purchased: here the quantity of product purchased is inserted.
Reorder level: if the product stock is below limit it contain information about that product.
Reorder quantity: it contains the information of product need to be reorder
Quantity sold: it contains the information of daily sales.
Discounted product: here the information about the discount products is inserted.
Stock Register Format in Excel
Stock register format is any document or file that helps in maintaining the stock of the company. The Stock register template format contains all the information about the sales, purchases and the orders of the inventory. This template is very necessary for any business. It helps in avoiding the shortage problem as well as ensures the availability of the product.
Stock registers are of great importance in the field of project management. It keeps the record of all the information and keep you informed about every aspect of inventory management. Some of the benefits of this register will discuss below:
- It’s also allows to manage the stock or inventory in very effective way.
- This also ensures the maintenance of the supply of product.
- It analyze the stock time to time to keep you updated.
- This template keep check in the quantity of the stock and reminds you to re-order the product whenever there is a need.
In addition, the contents of the stock register is as follows
- Name of the article.
- Invoice number
- Receiver name
- Issue date
Stock register is maintain at the office, from where the products are sold and purchased. The format of this register is enclosed. The register need to be update whenever new stock arrives. Place a number on each request to be fulfil.
Stock Record Template
Stock order comprises of the list of secret content that a brokerage firm holds on its customer’s behalf. List is updated whenever a new transaction is made. It is compulsory for every brokerage to maintain the stock record. It highlights the name of real owners, the number of shares and location of all the resources held by s firm.
The purpose of the stock record is to keep track of all the security issues of the firm on the behalf of its Clint. It contain all the information about the stocks of the company as well as about the stakeholders. There are basically three types of stock records which are as follows:
Inventory Control Template
Inventory control is actually the process of purchasing the right type of inventory in right time and at right place. It is also known as stock control. The purpose of inventory control is to maintain the inventory level, decreases the cost of storage as well as prevent the company from running out of stock. It make sure that the inventory is flexible enough to meet the demands of the customer.
Moreover, an effective inventory control makes a large profit with a least investment on inventory without affecting the satisfaction of the customer. Improper inventory control may leads to the stock out situation.
This situation causes the loss of customer, as they will stop doing business with your company if the customer services are poor. And no one goes for an alternative so your company will face a great loss therefore, you should have an effective inventory control department within the company.
The inventory control management can handle the issues like;
- Spoilage of product
- Excessive stock
- Dead stock
- Reduction in sales
- Loss of loyal customers
First plan about the inventory control then implement on it. Make sure you have enough stock in inventory. Check out all the shipments carefully as well as appoint a reliable staff for the checking. Always have a backup plan.