How To Create A Simple Inventory Management System In Excel
Inventory management system can be a great solution to keep track of inventory or items in business. It helps us to identify the entire lifecycle of our stock, identify when it’s time to restock or when it’s time to reduce inventory which eventually help optimising business sales and productivity.
Traditionally, this management system is based on paper sheets, an employee need to write down items to those sheets. The result was not good enough, a lot miscounts and time-consuming process disrupt other processes like ordering systems or accounting.
In this age, business or company make use of Software to help them streamline their inventory tracking process. Larger scale businesses use inventory management software which can be costly but can handle complex situation. While small business may rely on Microsoft Excel as a starter program for basic inventory tracking which can be efficient and low-cost for handling small number of inventory.