Having a Product Inventory Spreadsheet is an important part of the business of making sure you have enough products to keep your customers happy. It’s also a good way to prevent possible product shortages.
Unfortunately, when it comes to business, no situation is ever that simple. A shortage of any products can lead to major losses. Therefore, you need to be prepared for these types of situations.
There are many simple inventory spreadsheets on the market that claim to show you exactly how much each item is going to cost. The problem is that these kinds of spreadsheets are extremely important in keeping track of all of your products and keeping track of how much you’re actually going to make. No one wants to spend money and then not be able to afford the products they ordered.
Another thing that will cause a product shortage is running out of inventory. Once you have more products than you need, you run the risk of having to place an order with your supplier to cover the demand. Then you have to pay for what you ordered in the first place. If you don’t think you can afford the extra products, think again.
As a business owner, you need to be prepared for any situation that can lead to an unexpected shortage of products or an over-supply of products that needs to be sold. Therefore, it is a good idea to create a business spreadsheet to help you keep track of your inventory.
Creating an inventory spreadsheet is easy. All you need to do is to gather all of your company products into one simple line, then enter all of the pricing and inventories for each of the products into separate cells. The more products you have, the more you need to enter in each cell.
Once you have created in your spreadsheet, you can then add your new products in at the bottom of each of the rows and columns. After you enter the prices and inventories for each of your products, you simply enter a date to mark off each cell. You can even make your spreadsheet customizable, so that you can label certain products as “discontinued”, and then mark off that particular cell with the date of their discontinuation.
This simple spreadsheet can quickly turn into a business powerhouse, with all of the financial information included in a simple single column. Keep this information updated constantly and avoid the potential of a shortage and over-stock.