When you are a businessman whose job is to procure products from a source and provide it to your customers, it can be difficult to keep track of all the important numbers for instance; number or orders, products, current inventory and how many products to order.
All this can be organize in a precise manner by using an excel template customized specifically to your needs. Along with keeping track of things, using the template can help you make effective decisions on what to order in the future and how much. You will be able to look at your business trends and bottlenecks from a different view.
You will also learn which products are the most popular and which products are losing previous popularity at a glance. This will help you understand your place in the market and how to change that according to what you desire and you will be able to look at all your orders information easily.
Custom Excel Inventory Template for Retailers
There are two different ways you can end up with this sort of template, either you download and customize an inventory and sales template for retailers online or create a template of your own.
While the former is easier and quicker, it may be difficult to understand the dynamics of a template made by someone else, the latter takes more time and intellect and is much more rewarding when it comes to having complete creative control.
Sales Retailers Template
If you wish to download the template, make sure you get it from a reliable source to avoid viruses and other mal-intent entities on the internet. After you download the template and thoroughly read and understand where to input which data and how to use the template. It is critical that your time taking this step as if you use the template wrong you may end up with conflicting and incorrect outputs leading to epic disaster.
If you wish to create the template yourself, you should have basic to intermediate knowledge in how to use excel and it’s features. Then you need to understand what data you want to view in and what you want to highlight. You will need to understand the excel formula needed to calculate the basic quantities that will help you view the data from an objective perspective. Once you have completed this you need to make an inventory system or update your current system to make it suitable for use on excel.
Enter the required raw data in one sheet and make a review sheet with graphs or special slots for important values you need to see to understand your current standing. Your review sheet should include:
- Number of products
- Number of products in inventory
- Number of orders
- Number of orders with products out of inventory
- Number of products to order.
The raw data sheet and the review sheet will be enough to create a very good template. Now all you have to do is save the template. To do that, go to file, then click “save as” instead of “save” and then set the file type as “Excel Template”. Then to use the template, go to the “personal” section of the excel template library.