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Excel is an intelligent and inexpensive way to keep track of inventory. However, it does have a lot of limitations that inventory management software for student inventory does not. A spreadsheet can offer virtually endless columns that allow you to categorize and sort the data you need.  

You can easily create a spreadsheet or download a template to help you manage your inventory. You could also consider student inventory software.

How to Keep Track of Inventory in Excel

You can use an intelligent spreadsheet to track any important inventory information such as barcodes, descriptions, quantity in stock, location, and so much more. You can also include anything that may have an expiration date, pictures, and even notes. If you’d like to, you can also include any formulas and calculations on your spreadsheet.

Creating a notebook is also possible. You can add tabs or even spreadsheets with each displaying the data differently. However, before you begin tracking data, you should ensure that you’re capturing the correct details.

Excel is a super inexpensive and efficient way to keep track of your inventory. However, as mentioned above, it does have limitations and a lot of room for error that you won’t have to deal with when using inventory management software. 

Make a List of Categories and Calculations Needed

Before you begin trying to enter any of the data in Excel, you should go ahead and make a list of calculations and categories that you will need when it comes to inventory tracking. Here are some of the inventory categories that you may need to consider using in the columns of your Excel spreadsheet:

  • Location
  • Description
  • Barcode
  • QR code numbers 
  • SKU
  • Reorder flag
  • Inventory flag
  • Cost
  • Reorder quantity
  • Quantity
  • Units
  • Bin number

You should also consider adding any formulas to your inventory spreadsheet. You can easily take advantage of the help feature in Excel or even consider searching online for tutorials on how you can create the exact formulas you will need. You will need to take a step back and think about what calculations you will need.

Some of the examples include things such as:

  • Quantity in reorder
  • Inventory value
  • Purchase costs
  • Quantity in stock

You will need to consider additional categories, spreadsheets, and calculations in order to track business performance, sales, and all the other data that is associated. You can learn more about student inventory for Excel using the help option. However, there is a far easier way to do all of this than using Excel.

A Time-Saving Alternative

Student inventory management software can make a huge difference to the way you keep track of student inventory. With our platform, you can easily make use of several excellent tools that will streamline the process and make inventory management far easier than ever before.

If you think that you could benefit from student inventory management software, get in touch with our friendly team today! We are always happy to help people streamline their processes to enjoy more efficiency than ever before.