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How do you do inventory control? Leave a comment

Inventory control is essential for the success of small businesses. However, in many companies, this management is ignored by simple ignorance of the basic principles of good governance.

The lack of attention in this area is a big mistake that can disrupt the structure of a company. After all, controlling stocks is one of the foundations, keeps the results positive, ensures business efficiency, and reduces costs and losses.

But what does it mean to have an inventory control spreadsheet? The goal is to monitor the stored data to ensure that requirements are met without undue loss or waste.

In this process, it is important to realize that non-circulating goods are fixed money, a situation that directly affects working capital.

What are the benefits and what is a good inventory control for?

In addition to organizing your physical space, management through an inventory control spreadsheet serves to improve the structure of your company as a whole. This task makes it much easier to manage a significant part of your assets and also makes your operations more solid and precise.

For example, with multiple distribution points, operations tend to become more complex.

However, even though the work may seem bigger and more strenuous, if it is not done (or done wrongly) it can cause damage that is difficult to avoid in the future. These losses can even be costly to administrators and to society in general.

How to build an inventory control spreadsheet?

Here’s what you can’t miss in your inventory control spreadsheet:

● input column;

● output column;

● Product code;

● description;

● unit;

● Enter the date: day, month, and year;

● Write down the number of units;

● Write down the price of each unit;

● Enter the name and contact information of the supplier.

The information about data, quantity and value should be recorded in your incoming and outgoing inventory control spreadsheet. In the latter case, it is also appropriate to indicate the reason why the goods left the compound.

It is also worth noting that quantity can be described by the number of units, which varies according to the nature of the goods in stock.

Another important piece of advice concerns the filling of the main fields of the table: the registration should be done at the time of acceptance of the items and the check-out is done according to the requirements for the choice of the material.

This stock out is not limited to the sales process, but also to potential losses, such as handling losses, expired products, damaged items or even theft.

Therefore, when creating a spreadsheet table for inventory control, it is important to keep in mind the practicality of its daily processing, since it should be constantly updated (preferably in real time).
In other words, be prepared to be attentive to this important control tool and treat with rigor the information recorded in it.

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