- 1 What is inventory list
- 2 How to make inventory list templates in excel
- 3 Different types of inventory list
- 4 Benefits of inventory list
- 4.1 Helpful to track the number of items
- 4.2 Best way to stay organized
- 4.3 Save your time, effort and money
- 4.4 Organized statistics about your stocks
- 4.5 Help to make important decision
- 4.6 Help to satisfy your customer with organized things
- 4.7 Increase your growth rate
- 4.8 Help to improve your performance
- 4.9 Improve inventory turnover
- 4.10 Improve sale
- 5 Essential tips for inventory management
- 6 Purpose of inventory list
It is good practice to stay organized in every field of your life. You make an inventory list for different settings to track it or hold it efficiently. To save your time or effort, excel templates are a great tool to organize your things. In just one click, you can download your favorite inventory list templates. From this fantastic collection, you can download different templates for various purposes e.g., equipment inventory list templates, product inventory sheet templates, warehouse inventory, excel templates, household inventory list templates for moving, and others are included in different formats.
If you are looking for easily downloadable and printable inventory list templates then here is a collection of inventory list templates which help to track you inventory in a best way.
What is inventory list
Inventory is a buffer of products or goods available in different stages held by an organization. These inventories can be finished products, raw material, and work-in-progress. The inventory list is used to track and organize the records of these settings. For that purpose, the inventory list template helps to maintain and monitor the record of your inventory in an efficient way. Excel template is the best tool to save your time and effort with an organized list. It is widely used in industry to keep track of items in stock and restock these items periodically. This printable inventory sheet template is just one click away to avoid any problem regarding inventory management.
These templates are used for different settings like homes, industry, and schools to stay organized. It is used to avoid complications during trading, manufacturing, or delivering the products through maintenance in business and eliminate future complications. In industry, the inventory list about stock items contains information like item name, item price, expiration date, purchase date, and other related details of the items. Templates are an excellent option to organize your inventory in the best way. Here you’ll find a collection of best inventory list templates in which home inventory list templates, office inventory list templates, Grocery inventory list templates, Business inventory list template, stock inventory control template and others are included. These templates are available in Word, Excel, and google docs, which you prefer.
How to make inventory list templates in excel
From a vast collection of free excel inventory list templates, you can download your favorite one. These templates are best for small businesses to track and organize the inventory. If you want to make your own excel templates from scratch, then follow these few simple steps:
Step1: Open Microsoft excel.
Step2: Select the “Blank document.”
Step3: Create the header of your sheet. Go to the insert tab then click the header button. Type the header of your sheet. Select a decent color with appropriate text size.
Step4: Now, create the column header of your sheet; these column headers define what type of information your sheet contains.
Step4: Click A1 Cell and type the 1st column header as “product name,” the name of your inventory product. Adjust the width of the column as you need.
Step5: Click on B1 cell, type the 2nd column header as “product ID” that the ID of the product.
Step6: Create the heading of the 3rd column in the C1 cell as “Quantity,” the quantity of the product.
Step7: Description of the product in one or two lines, type the “Description” heading of the 4th column in the D1 cell.
Step8: To put the cost information about the specific product, make the header of the 5th column and type the “Item cost” in E1 cell.
Step9: Click at the F1 cell and make the header of the 6th column as “purchase date.” It defines the purchase date of the product.
Step10: location of the item in G1 cell, heading as “location” of the 7th column.
Step11: Save your work.
You can create your own custom inventory list templates by following these simple steps. If you want to create a detailed personal property inventory list template, then increase the no. of columns to save other related information of your inventory. Browse our collection to make your work more comfortable with a free excel inventory template in one click.
Different types of inventory list
Inventory is a collection or stock of goods or products. It’s necessary to organize the stock of goods or products in an efficient way to avoid any problem regarding the management of inventory. Different types of inventory are as follows:
Raw material inventory
The raw material is the first form of the product that is being made. The raw material is used in the process of manufacturing goods. Raw material can be plastic, oil, chemicals, minerals, petroleum, wood, paint steel, and other things that are used as raw material for the production of items. There is the different raw material for different materials; it may be a finished good for one organization, and these finished goods are used as raw material for others. Small organizations need helpful tools that are used to organize these raw materials.
Excel sheets are the best tool for small organizations to track their raw material. Make an inventory list by downloading free printable inventory list templates. You can manage your raw material inventory with these excel templates, also see the raw material inventory list example to understand it. To calculate your current raw material, you can download a free excel inventory template with formulas.
In work-in-progress inventory, it includes all the inventory from raw to the processing up material before the final finished. In this situation, raw material is used as input, and some material is assembled but not a finished good. It is like a building house in which material is in use and has not been completed like the production of cosmetics, tablets before its packing. Make a list of all these work-in-process inventories to organize it. You ‘ll find here a list of excel Work-in-process inventory template that you find nowhere else. In the section, you can see work-in-process templates in which the cosmetic inventory template, excel spare parts inventory management template, parts checklist template, bill of material template, daily stock register format excel are included.
Finished Goods inventory
It is the final form of your production and ready to be sent to the market. It is good practice to track your finished products according to the customer demand with the finished goods inventory list template, which contains all the descriptions of that product. Now, it’s time to make money by moving these final products to the market. Moving inventory list template is very helpful to track all the products when you make delivery of these items. Examples of finished goods are Vehicles, medicine furniture, apartments, clothes, toys, electronics, and download templates of all these goods in excel.
MRO Goods inventory
MRO refers to maintenance, repair, and operating the goods that are used to utilize and maintain the process of production. It may be equipment, computers, batteries, electronic products, and other things that need the MRO to provide good quality products to customers. A collection of best MRO goods inventory templates are available to work in a professional manner; some of the templates are as follows:
- Laboratory inventory list template
- Equipment inventory list template
- Computers inventory list template
- Electronic inventory list template
- Office inventory list template
- Repair tools inventory list templates
- Furniture inventory list template
Benefits of inventory list
The inventory list has lots of advantages. Some of these are
Helpful to track the number of items
It is a good rule of thumb to deliver your package on time against an order. When everything is organized with correct figures, it is easy to complete an order on time. To achieve your desired position in the market, it is best to make everything organized. The inventory list template is the only tool that is helpful to keep track of all products.
Best way to stay organized
To make everything perfect, it is essential to make a list of all the stuff. It is vital in the business sector to keep your inventory organized, make a list of all your stock in an excel template to manage it efficiently.
Save your time, effort and money
It isn’t very easy to track, manage, and organize your inventory in a vast business. Download a free business inventory list template to manage your tasks effectively. It is not possible to count every item of your inventory daily, make a list of all these items to save your time and effort. You don’t buy more items when your stock is already full of these items. In the list of your inventory, when stock is full of a specific item, you don’t place an order of this item again. It is the best way to save your money from spending on those items which don’t sell.
Organized statistics about your stocks
It is a key of every successful business to stay organized and track your inventor. With the help of the inventory list, you can find an exact number of your stock items before refilling it.
Help to make important decision
To-do list, you can get exact figures about your business inventory, which helps to make some important decisions regarding your business.
Help to satisfy your customer with organized things
Customers are one of the basic factors in your business. All of your work and effort is just for your customer satisfaction. People like organized stuff. Inventory lists are the best way to stay organized, which are helpful to satisfy your customers.
Increase your growth rate
Inventory lists help to increase your growth rate by tracking and managing your inventory.
Help to improve your performance
With the inventory list, you can control your inventory, which may lead to improved performance.
Improve inventory turnover
With organized stuff and excellent management of your inventory, it helps to improve the inventory turnover.
It is a definite thing when your work with organized things helps to increase your sales.
Essential tips for inventory management
Some essential tips for inventory management are as follows:
- Follow the method of First-In-First-Out (FIFO) to sell your items that come first in your stock.
- Update your inventory list at the end of the day with a cycle counting method.
- Before purchasing any item, keep in mind the demand ratio of your customer.
- You have categorized all of your inventory based on their priority.
- Select a supplier who is honest and professional. It helps to prevent you from any issue regarding delivery.
Purpose of inventory list
Some basic purposes of inventory list are as follows
- To organize current stock records
- To save money or time
- To maintain smooth operations
- To maintain balance supply and demands
- To prevent future inventory issues