Proper inventory management for small businesses can be the difference between selling at a profit and incurring a loss. To truly be an asset to a business, an effective inventory management system must be implemented and a knowledge of the complexities of the business' supply chain must be readily available to the business owner.
To be effective, a small business should design an inventory management system that tells those who need to know what is on hand, where it is located, and if an item is out of stock, how quickly the stock can be replenished. A successful business will require efficient methods for managing inventory and controlling the flow of goods, information, and resources through the company. Inventory management also involves working with suppliers to ensure that inventory levels stay constant, costs are consistent and controlled, and accurate records of products ready to sell are kept.
While it can be a tricky balancing act, effective inventory and supply chain management keep a business running smoothly. Find documents, resources, expert advice and information to help you create successful inventory management and supply chain strategies for your business.
Inventory Register FormThe purpose of this Inventory Register Form is to record the stock inventory details. This form contains columns for input of how many units of a particular item were sent, the supplier name, opening balance, the quantity in and out, current balance, wastage, and any remarks. This document in its draft form contains numerous of the standard clauses commonly used in this type of form; however, additional language may be added to allow for customization to ensure the specific language of the user is addressed.View doc
Inventory Tracking SpreadsheetThis Inventory Tracking Spreadsheet is designed to help businesses track the goods from the warehouse through distribution and sales. This basic template records the units received and units distributed, and the balance of the inventory is automatically calculated and shown on the top of the template. The user can include a date, purchase order number and item name and description. This spreadsheet can be customized to include additional tracking information.View doc
Inventory SheetCompanies can use this Inventory Sheet to list and count all inventory. After inserting a unit price and quantity in stock, the spreadsheet will automatically calculate the current inventory value. The Inventory Sheet should be used to help businesses determine if they need to reorder inventory items. The spreadsheet will calculate the total reorder cost based on the reorder level needed. Managers or supervisors should use this document to keep accurate records of current inventory levels and help plan for future inventory costs.View doc
Inventory Value SpreadsheetThis Inventory Value Spreadsheet is a template spreadsheet that is designed to help a business track the production cost per unit and the total cost of production. In addition to entering the number of production units and the production cost per unit, the user should also enter values for the number of sale units, returned units, and obsolete units. The spreadsheet will calculate the warehouse inventory value based on the current production costs. Managers or supervisors should use this spreadsheet to track the production cost of goods, which can be used to help determine the cost of goods sold.View doc