Simple stock control in Excel: know what came in, what went out and what it cost

Inventory control, also called inventory management, is the process of ensuring that the right quantity of goods is available within an organization. With proper internal and production controls, this practice ensures that the company can meet customer demand as effectively as possible.

To meet this demand, the Excel Coaching group developed the Stock Control Worksheet, which allows you to register all the actions that have been carried out of the stock, containing essential fields to be filled in, and can give a better management in the decision making in Stock Management.

What is inventory control for?

Much more than having an organized physical space, this control allows to optimize the tasks of the entire structure of the company. And thus bring countless advantages and benefits.

Controlling stock means managing an important part of your assets. Besides representing an essential strategy for business operations.

These operations can be complex, especially if there is more than one distribution point. However, failure to do them or doing them inadequately will lead to small errors that can be costly.

Successful inventory control requires data on purchasing, new orders, shipping, storage, receiving, customer satisfaction, prevention, turnover, and more.

When this follow-up and management is done properly, it is possible to maximize profits and improve customer satisfaction.

This is possible because companies now have enough tools and data to evaluate their current state and adjust it to the sales projection.

This is why the use of the stock control spreadsheet is so important, since it will bring this possibility to organize and manage the available and future stock, besides analyzing the past stock, to determine future projections.

Another important point of inventory control is that it can help to avoid major problems, such as lack of products in stock. In fact, this is a situation that should be avoided as much as possible, because it can bring serious consequences to a retail company.

Advantages of Stock Control

Many financial departments of companies that do not have a balanced stock control and make too many purchases of products, without knowing their real need, or even fail to buy the ones that leave more, end up taking a long time to recover the capital invested and also lose possible business opportunities.

The planning carried out with our spreadsheet allows the company to avoid spending money on products that will be kept in stock for a long time.

Spending on something that will be stored for a long time is not investing in other more profitable situations that will bring other types of return to the company. But to carry out this whole process, the spreadsheet requests fields with the following data that need to be filled in, such as:

Unit
Maximum
Minimum
Date
Source
Incoming
Outbound
Stock
Here you saw a Basic Stock Control Sheet, which helps a lot, and has advanced features facilitating control and replacing outdated methods.

Your company can reduce work effort, time in order to improve the productivity of the company, thus giving a better management in the placement of ideas about a particular service.