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Download Inventory Management Excel Template

Download Inventory Management Excel Template

Inventory Management Templates are ready to use templates in Excel, Google Sheets, and Open Office Calc that help you to manage and track your inventory.

These templates keep track of products purchased and sold by a business. It also contains information such as the amount in stock, unit price, and stock value, etc.

Furthermore, it also provides the cost of inventory for preparing the Profit and Loss Accounts at the time of the finalization of accounts.

Additionally, you can also know the exact inventory levels of each product. You can set a re-order quantity and the template will highlight the products to re-order.

With these inventory management templates, you can quickly analyze the purchases/sales patterns for a particular period. Thus, it helps you to know about the best performing products.

What is Inventory Management?

Inventory management is the process of monitoring and maintaining purchase, sales, and stock of goods to ensure the availability of supply at the time of disbursement as well as saving dead stock.

This process involves:

  • Managing proper purchase.
  • Proper Storage of products.
  • Proper Dispatching and reporting of products.
  • Monitoring Product-wise Sales.
  • Analyze the Stock movement.

Usually, small and medium-sized businesses use manual stocking tools to manage their inventory. Most of these manual stocking tools are made in Excel or other spreadsheet software like Google Sheet and Open Office Calc.

Inventory Management templates vary for different business types such as Retailers/wholesalers, Hotels, Real Estate, etc.

Importance of Inventory Management

Inventory management plays a vital part role in any business. Improper inventory management leads to a loss in the form of customer loss as well as dead stock. Hence, it is necessary for any business to effectively manage the supply channel from warehousing to the fulfillment of orders.

Decrease Storage Costs

Excessive storage of inventory leads to extra costs on products and eventually lead to additional expenses. Inventory management helps us to define the proper ordering system and hence save us from unnecessary storage costs.

Minimize Losses

Purchasing of excessive products can lead to higher dead stocks. Inventory tracking helps the business to know the fast-moving products of a business. Hence, it can save you from over-ordering the products.

Moreover, there are chances of theft by employees or handling staff. If a business manages timely checks and recounting of products regularly, it can save us from such losses.

Product Availability

In today’s competitive markets, a business must-have product availability, especially in the e-commerce business. Proper re-ordering system and timely execution can help easy product availability and customer acquisition.

Minimize Order Processing Time

Every e-commerce business has to maintain quick order processing time. Proper inventory management leads to decrease the processing time. Moreover, this helps to increase sales.

Manage Multiple Sales Channels

When a business sells products on multiple sales portals it demands a high level of accuracy to keep products available on every channel. Proper inward and outward entries help you to manage multiple sales channels with ease.

Sales Forecasting

Outward inventory entries help us to define sales patterns. Furthermore, sales patterns from previous months or years help us to forecast sales.

Customer Satisfaction

Proper order execution and timely delivery of products lead to customer satisfaction. This customer satisfaction helps in building your product brand.

Apart from the above business benefits, inventory management helps to define the COGS. To prepare the P&L account, businesses require to define COGS as well as the cost of inventory. Thus it helps us in the finalization of accounts.

Inventory Management Templates

This section consists of 3 different Inventory Management Templates for different inventory needs. All these Inventory Management Templates are available in 3 formats: Excel, Google Sheets, and Open Office Calc. Click on the desired icon button to download the respective file format.

Download Stock Inventory Management Template

We have created a simple Stock Inventory Template with predefined formulas and formating. Insert your daily inward and outward stock entry. In addition to that, you can keep an eagle’s eye on your stock as well as helps to increase the profitability of your business.

Inventory Control Template can be useful for all kinds of businesses. All retailers, wholesalers, store managers, and especially e-commerce businesses like Amazon, Flipkart, and Snapdeal vendors, etc and use this template.

Inventory Management Templates

Excel Google Sheets Open Office Calc

Click here to Download All Accounting Excel Templates for ₹299.

Important Note: To edit and customize the Google Sheet, save the file on your Google Drive by using the “Make a Copy” option from the File menu.

You can download other Excel-based Accounting Templates like Profit & Loss Account, Accounts Receivable, and Accounts Payable templates.

Contents of Stock Inventory Management Template

Inventory Control Template design consists of two sections as follows: Heading Section and Inventory Section.

Heading Section

As usual, the first line here is the heading “Inventory Control Sheet”. A checkbox next to the heading has been designed. If we check this box then all the items to be reordered will be highlighted.

Other sub-headings for Data input section are as below:

Inventory Management Templates

Inventory Section

Inventory Control ID: Here you can put a unique alphanumeric ID for your products as given in the worksheet “ABC001”.

Product Detail: You can describe your product name under this subheading.

Quantity Purchased: Insert the Quantity of product purchased is entered here.

Price/Unit: Price per Unit is entered here.

Quantity in Stock: Quantity in stock is derived by subtracting Quantity Sold from Quantity Purchased.

Value Stock in Hand: Value of Stock in Hand is derived by multiplying Stock in hand with Price/Unit.

Reorder Level: You have to input a level for Reorder. This will indicate to us about reordering the product if a product stock is below that limit.

In the Heading Section, a highlight checkbox is there. If you tick that checkbox, the product below the reorder level will be automatically highlighted.

Reorder Quantity: Reorder Quantity can be entered according to the sale of the desired product. It can either be predefined or vary according to the sales pattern.

Quantity Sold: Daily sales of each day will be entered here, which will give you an exact inventory status of the product.

Discontinued Product: Here you have to enter “Yes” if and only if the product is discontinued by your supplier. Typing “Yes” here will change the data in the row with a strike-through line.

See image below for reference:

Inventory Management Templates

You can generate different reports with the help of this template. Reports for a particular product, stock level and reorder level, etc can be by selecting it from the drop-down menus.

Report Generation

The table function of Excel is used in making this template. Thus, you can generate different reports with the help of this template.

Reports on a particular product, product id, amount, tax, etc. by selecting it from the drop-down menu. Just click on the switch beside the subheading and select the report you want to generate.

Download Stock Inventory Management Template With Tax (VAT/GST/Sales Tax)

This template is useful for people residing in such countries where taxes like GST/VAT/Sales tax are applicable. We have created a simple and easy template for Stock Inventory Management Template with Tax using excel table function and predefined formulas.

Excel Google Sheets Open Office Calc

Contents of Stock Inventory Management Template With Tax

Inventory Management Template consists of 3 sections: Header Section, Inventory Section, and Value of Stock Section.

The contents of this template are the same except the value of the stock section.

Value of Stock Section

Inventory Management Templates

Price/Unit: Mention Price per Unit here to calculate the value of the stock without VAT.

Value of Stock WIthout VAT: Value of Stock without VAT also has a predefined formula. The formula applied here is Stock in Hand X Price /Unit.

5% VAT: This cell will calculate only the amount of 5 % VAT. Formula: Value of Stock without VAT X 5%.

Value of Stock Including VAT: Value of Stock = Value of Stock without VAT +  Amount of 5 % VAT.

Reorder Level: Reorder level means a limit of the product below which if the stock goes the sheet must provide indications.

Hence, define a level for Reorder. It will highlight the row if a product stock is below that limit it. Thus we can reorder the product to prevent the unavailability of goods.

As we discussed earlier, there is a checkbox in the header section. If the checkbox is checked, the product below the reorder level will be automatically highlighted.

Reorder Quantity: Reorder quantity is the number of products to be ordered. You can set it according to the sale of the product. It can either be predefined or vary according to the sales pattern.

Discontinued Product: Many times it happens that there are some products whose sale has been stopped and we don’t buy them.

It might also happen that it might be a special edition and discontinued by the supplier.

If you enter “yes” against any such product in these cells, it will display a strike-through line upon the values, indicating that the product has been discontinued.

Download Asset Inventory Management Template

We have created a simple and easy Asset inventory and tracker with predefined formulas and formatting that helps you to record more than 500 personal/company assets.

Furthermore, it also consists of a Quick Asset Tracker, where you can search for details of any asset by search the asset by its unique ID.

Excel Google Sheets Open Office Calc

Contents of Asset Inventory Management Template

This template consists of 2 sheets: Asset Inventory and Quick Asset Tracker.

Asset Inventory

In this sheet, you need to record each asset of your company with all relevant detail. It is designed in such a way that you can record all the minute details of the asset.

Personal assets include extra house, commercial properties, personal equipment, etc. Whereas, company asset includes all the assets purchased for running an organization. It includes office furniture, computers, routers, godowns, office vehicles, etc.

Inventory Management Templates

At the top, insert your company’s/individual’s name. Just beside this, there is total asset value. As you make an entry in the inventory sheet along with its price detail it will update the amount in this cell.

Inventory Management Templates

This sheet consists of the following columns:

Asset ID
Name of Asset
Asset Category
Description of Asset
Department
Room/Ward No.
Date of Purchase
Seller’s/Supplier’s Name
Guarantee (in Months)
Warranty (In Months)
Purchase Price
Installation Charges (if applicable)
Total Cost of Asset
Model No.
Serial No
Remarks

Inventory Management Templates

Insert relevant details applicable to your asset in the above-mentioned heads. Add assets as and when you purchase the asset and don’t forget to remove when you discard.

Inventory Management Templates

Quick Asset Tracker

Once you have a lot of assets it is hard to scroll through the sheet and look for the relevant details. To simplify this we have created the quick asset tracker where you can simply find details of assets in just seconds.

Asset Tracker

In the previous sheet, each asset is given a unique ID. All you have to do is to enter the asset ID and click enter. It will automatically fetch all the details of that particular asset using the VLOOKUP Function. That’s it.

Asset Management Tips

Here some tips that can be helpful in effective asset management:

  1. Define all assets. Keep a record of all assets along with their prices.
  2. Set up a proper process for acquiring new assets.
  3. Don’t buy whatever is requested. Check thoroughly the need and then buy.
  4. Before importing data from other systems, be careful and always recheck.
  5. Design a loss prevention plan for your assets. The need of every business is different. Make sure it suits your operations.
  6. Make decisions maximizing your ROI.
  7. Develop a smart and consistent auditing plan for the least expected scenarios.
  8. Share your management strategy across all departments.
  9. Diversify your SKU attributes.
  10. Provide adequate systems training to staff for proper and maximum utilization of your equipment and to save unnecessary damages.

We thank our readers for liking, sharing, and following us on different social media platforms.

If you have any queries or questions, share them in the comments below and I will be more than happy to help you.

More Inventory Management Templates

UK VAT Inventory Register Download UK VAT Inventory Register Excel Template - To simplify your work and easy of extracting inventory data, we have created a simple and easy UK VAT Inventory Register Excel Template with predefined formulas and formatting. This template helps you to keep an eagle’s eye on your stock inventory. Eventually, helping you increase the profitability of your business.
School Assets Inventory and Issuance Register Download School Assets Inventory and Issuance Register Excel Template - School Assets Inventory and Issuance Register Excel Template helps the school to manage inventory and track equipments with ease and access relevant information in just a few clicks.

Frequently Asked Questions

What is cycle counting in inventory?

Cycle counting refers to counting a subset of items in inventory at regular intervals instead of waiting for an annual or quarterly count. This helps to discover incorrect inventory records, save from internal thefts.

What is ABC analysis under inventory management?

ABC analysis is a way to group inventory items into different priorities for cycle counts. It is an inventory categorization that a business uses for prioritization mechanisms on the products based on their sales patterns.

What is Inventory Forecasting?

Inventory Forecasting means to estimate the future demand for a product based on sales patterns.

What is EOQ?

EOQ stands for Economic order quantity. Under this method, businesses order the ideal order quantity for purchase to minimize unnecessary inventory costs. These costs include costs involved in holding stocks, shortage costs as well as order costs.

What is the FIFO method?

FIFO stands for “First-IN, First-OUT”. It is a basic rule of product rotation that helps to maintain product quality and freshness. Products business produces first are to be sold first which ensures minimize spoilage and waste.

What is the LIFO method?

LIFO stands for “Last-IN, First-OUT”. It operates just opposite to FIFO method. Products business produces last are to be sold first. This minimizes your profits for tax purposes. This method is not acceptable in most places by the tax departments.

What is Opening Stock?

At the beginning of an accounting year or inception of a business, stock available in our inventory account refers to Opening Stock or beginning inventory.

What is Closing Stock?

Inventory on hand at the end of the accounting year or close of a business refers to the Closing Stock.

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About Shabbir Bhimani

I have worked in Excel and like to share functional excel templates at ExcelDataPro.

Comments

  1. Yasir Nizami says

    December 18, 2016 at 8:47 pm

    It’s an excellent sheets and need this one can you mail me this template.
    I ll be thankful to you
    Best Regards

    Reply
    • Fahim Lashkaria says

      December 19, 2016 at 5:07 am

      You can directly download the template from website. Please confirm your email address so that i can send it directly on your email. thanks

      Reply
      • Mushtaq Ahmed says

        September 14, 2017 at 11:43 am

        Dear Sir,

        I require a template for Inventory Level (Over/Under stocking),
        Kindly email me if possible…

        Reply
      • md.mehedi hassan says

        December 10, 2019 at 12:57 am

        thank you for your nice cooperation .

        please send as below mentioned email address .
        mehedi.34738@waltonbd.com

        Reply
        • Fahim Lashkaria says

          December 10, 2019 at 9:21 am

          Hi Mehedi, what should I send?

          Reply
          • maya kashyup says

            February 24, 2021 at 1:11 pm

            Dear Sir,

            I require a template for Inventory Level (Over/Under stocking),monthly wise stock mentain
            Kindly email me if possible…natzkashyup27@gmail.com

      • Ronald says

        December 24, 2020 at 11:10 am

        Dear Sir,

        Can you share template for Spare parts inventory, Thanks in advance.

        Reply
        • Fahim Lashkaria says

          December 29, 2020 at 12:02 pm

          YOu can use this template for spare parts inventory. If you want anything customized please contact info@exceldatapro.com. This will be a chargeable job.

          Reply
  2. Javed says

    December 19, 2016 at 12:45 pm

    Very useful
    kindly email me

    Thanks

    Reply
    • Fahim Lashkaria says

      December 20, 2016 at 1:47 am

      Hi Javed

      You can directly download the template from website. Please confirm your email address so that I can send it directly to your email.
      Thanks

      Reply
      • javed says

        December 20, 2016 at 10:13 am

        nijtds @gmail.com

        Regards

        Reply
  3. Ram Kumar says

    March 1, 2017 at 4:10 pm

    Very useful
    kindly email me

    Thanks

    Reply
    • Fahim Lashkaria says

      March 2, 2017 at 4:14 am

      Hi Ram,
      You are welcome. We are glad to hear that our templates are being useful to our viewers/readers. You can directly download from the download link provided in the article. if you have any issues in downloading, please let us know.
      Thanks
      Fahim

      Reply
  4. mudassir says

    March 4, 2017 at 7:42 pm

    Excellent inventory control sheet.
    Can not see any link for download.
    kindly email me at mudassirrashid89@gmail.com. .
    in dire need at the moment.

    Reply
    • Fahim Lashkaria says

      March 5, 2017 at 7:41 am

      Hi Mudassir,
      You can find the download link in the word “Click here” to download the Inventory Control Sheet. In each and every template you will be able to find the download link in the word Click here before the template name.
      Thanks
      Fahim

      Reply
  5. Karima says

    September 7, 2017 at 7:38 am

    It’s very useful, Thank you for your efforts.
    How can I change the currency?

    Reply
    • Fahim Lashkaria says

      September 7, 2017 at 7:40 am

      Go to format cells and change currency as per your need.

      Reply
  6. Roy says

    October 3, 2017 at 5:52 am

    Dear Sir,
    Thanks for your hard work. I downloaded it. Hope it will be a useful tool for my business. I have a GI corrugated iron Sheet retail business.
    I’m thinking of newly purchased cost price adjustment with the previously purchased price to determine the new cost price . Is it possible?
    Again thanks.

    Reply
    • Fahim Lashkaria says

      October 3, 2017 at 10:26 am

      It is possible. Your request has been noted and added to our list. As we reach on to it will be updated on website. Thanks

      Reply
    • Fahim Lashkaria says

      October 3, 2017 at 10:27 am

      Glad to know that our work benefits others. Thanks for your compliment.

      Reply
  7. Sahana Jayasingha says

    November 4, 2017 at 3:27 am

    if you have can i get monthly inventory sheet without costing part

    Reply
    • Fahim Lashkaria says

      November 4, 2017 at 12:05 pm

      Hi Sahana, Your request has been added to our list and will be soon provided on our website. We will notify you when posted.

      Reply
  8. zuber says

    December 4, 2017 at 12:45 pm

    I would be grateful if you could send me a simple excel format to maintain stock for fabrication items and related spare parts. It should have items received items issued and balance.

    Thanks a lot.

    Reply
    • Fahim Lashkaria says

      December 4, 2017 at 1:22 pm

      Dear Zuber,
      Your request has been noted and will soon be published on our website.

      Reply
  9. Mohammad Yasir says

    December 20, 2017 at 11:46 am

    Hi,
    Can you Direct me that how we designed the Check box and how it Work?

    Reply
    • Fahim Lashkaria says

      December 20, 2017 at 3:10 pm

      You can learn to add and configure checkbox on the below link:
      https://support.office.com/en-ie/article/Add-a-check-box-or-option-button-Form-controls-9f201e46-8f6b-4a9d-a320-f44b28088cb0

      Reply
  10. Daniel mwalyayo says

    June 29, 2018 at 12:31 pm

    Its awful kindly email me the tamplete

    Reply
    • Fahim Lashkaria says

      June 30, 2018 at 10:29 am

      Dear Daniel, the link for download is given in the green box in the article. You can directly download from that link. If you have any issues please let us know.

      Reply
  11. Akandwanaho Charles says

    September 25, 2018 at 6:38 am

    Thanks for the great attribute, am much thankful for this generation of new methods exposes to us for harnessing our project development, keep it up. Forever grateful.
    Need the templates to be emailed to me. Chqrlesak13@gmail.com

    Reply
    • Fahim Lashkaria says

      September 26, 2018 at 3:56 am

      Download link for each template has been given in each article in a green box. YOu can directly download from there.

      Reply
  12. Snehal Vaidya says

    September 26, 2018 at 9:55 am

    I require a template for Inventory Level (Over/Under stocking),
    Kindly email me if possible…

    Reply
    • Fahim Lashkaria says

      September 27, 2018 at 3:03 am

      Describe your requirement in detail.

      Reply
  13. Mizan says

    December 24, 2018 at 10:19 pm

    Hi , its very useful. Could you please moderate it for daily item wise sales entry with price where i can campare direct purchase and sale price difference at a galance.

    Reply
    • Fahim Lashkaria says

      December 28, 2018 at 11:53 am

      Thanks. YOur requirement has been noted and will be published on the website in near future.

      Reply
  14. satvinder kaur says

    March 27, 2019 at 1:33 pm

    dear sir

    I request you to guide to make a crookery handover and takeover sheet for washing and getting it back without damage.

    Reply
    • Fahim Lashkaria says

      March 29, 2019 at 10:52 am

      please send your requirement in detail to info@exceldatapro.com to get the quote.

      Reply
  15. ottomanis says

    April 6, 2019 at 6:49 pm

    thank you

    Reply
  16. Luke says

    August 11, 2019 at 12:15 am

    So amazed with the template, its wonderful!!!!

    Reply
    • Fahim Lashkaria says

      August 14, 2019 at 5:09 pm

      Thanks, Luke.

      Reply
      • jordan says

        May 27, 2020 at 6:13 am

        I LIKE THIS TEMPLATE ..CAN YOU PLEASE SEND ME A COPY OF YOUR TEMPALATE FOR INVENTORY LIST PLEASE.EMAIL – j2waqa@gmail.com

        Reply
        • Fahim Lashkaria says

          May 27, 2020 at 12:38 pm

          There is a green download button in the article, please click on that to directly download the template.

          Reply
  17. PANKAJ CHAVHAN says

    March 24, 2020 at 12:25 pm

    CAN U PLEASE MAIL ME THIS SHEET ON MY MAIL ADDRESS?

    Reply
    • Fahim Lashkaria says

      March 24, 2020 at 12:30 pm

      There is a green download button in the article and you can download the same from that link. I have sent you the file on email thanks.

      Reply
  18. wanangwa chiwala says

    November 5, 2020 at 8:18 pm

    I would like to have an excel sheet works as bin card for hotel stores and shows the value of the stocks aswel.

    Reply
    • Fahim Lashkaria says

      November 6, 2020 at 4:16 pm

      you need to make a customized sheet for your purpose.

      Reply
  19. Kim Dean says

    December 13, 2020 at 3:58 am

    Very grateful for your willingness to share your knowledge as well as the many hours you’ve invested in creating these fantastic spreadsheets. I’ve found that if I need to customize, you’ve made it easy by starting and laying it out for me…Often the hardest part.
    Thank You

    Reply
    • Fahim Lashkaria says

      December 14, 2020 at 12:56 pm

      Thank you for your appreciation, Kim. Glad to hear that it was useful to you.

      Reply
  20. Muhammad Hussain says

    March 6, 2021 at 4:28 pm

    Assalamo Alikum Sir,

    I am working as assistant in admin Department and i have to maintain he record of stationery which i deliver to different department, pls help me that which template is useful me, I dont need costing, i just need to record all stationery i.e Pen Pencil, Marker, register, staplers ,Tissue box, Room Spray, Printing Papers ECT. each department can request for any/multiple items , i have to record them date wise in account of each department, i have Account Depart, HR Depart, Education Depart, Corporate Depart , IT Depart and Admin .
    How can I create a sheet which may helpful for me to get summary inventory department-wise and item-wise
    I am not a excel professional/expert. Please help me.

    I am waiting for your kind response

    Muhammad Hussain

    Reply

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