A basic Excel Spreadsheet is a tool that every retailer and small business should have in their inventory control program. There are many things you can do with a simple Excel Spreadsheet; It’s easy to track and monitor every purchase you make, along with the merchandise being purchased. This is an excellent way to keep track of the items that are out of stock, as well as those that are available for the store’s shelves.
Excel does not only allow you to manage and track your inventory but can also help you make better decisions. A good example of this is to allow you to place an order for a specific product and then put down a minimum price that you will accept for it.
Make sure you have the right layout when you are using an inventory spreadsheet because there are many layouts to choose from. It’s always a good idea to follow the example of what is already there; so if you have a company, or some retailer in your area, that uses the same template for their spreadsheet, then you would just download and add your items. It’s not that hard.
No matter which company’s policies you’re following, it’s important to keep track of each purchase, and how much of it is kept on hand versus how much is sold. You don’t want to buy something and have it go out of stock. When you don’t get it back on the shelf in time, you have bad customer experience, and you might even lose your business.
With your clothing inventory spreadsheet, you will be able to tell if the item is out of stock, or if they’re selling it at a discount. This will allow you to change the pricing of the item, which can bring the price up quickly or decrease it slowly, depending on how much is left in stock.
Another benefit is knowing what items are going out of stock, and what items are high in demand. This will allow you to keep these items in stock for longer periods and therefore making more money on the products. This will be very beneficial for your business as well.
Save money on gasoline, or even on the gas itself. Some fuel-efficient vehicles are priced higher than regular cars. If you run a business, this can be an added expense, and it can be quite costly, so it’s a good idea to have a good inventory tracking system in place.
A spreadsheet can help you manage your small business properly and show you exactly where the money is being spent. Get started now, and start taking control of your business.