One benefit of using Excel inventory management templates is that they are cost-effective. Most businesses already use Excel, and it comes at a minimal cost. You do not need to invest in expensive inventory management software.  

Specialized inventory software can be expensive, especially for businesses that need to manage large amounts of stock and materials, and the cost can increase even further depending on the inventory quantity being managed.

Another disadvantage of using inventory software is that it often comes with a steep learning curve. It may take time and effort to familiarize yourself with all of the features and capabilities, which can be especially challenging for small businesses that do not have the training resources available. Excel templates, on the other hand, are already pre-built, so you can hit the ground running by simply adding in your own data.

Inventory software is often designed to be a one-size-fits-all solution. With Excel, you can create custom formulas and algorithms to track inventory levels, calculate stock quantities, and manage stock orders. This flexibility means you can tailor the templates to your specific needs and requirements, making Excel a handy tool for business inventory management.

With Excel inventory templates, you can input and update information, generate reports that provide valuable insights into your inventory levels, and monitor ordering patterns.

Here are a few of our favorite Excel inventory templates: 

This Software Inventory template by Vertex42 is designed to help you manage the process of tracking hardware and software assets. It offers the ability to easily keep track of the location of installed software and monitor information about software license expiration dates. It has a simple and user-friendly design and provides quick insights into the status of your inventory and software licenses, helping you make informed decisions on which licenses need to be renewed, which can be purchased, and which can be reused.

This template by Vertex42 is designed for businesses without complex asset tracking requirements. The Asset Tracking template is free to download, and it works well for tracking computer hardware, tools, repair equipment, or any other fixed assets. It includes columns for item descriptions, quantities, locations, purchasing information, and details. 

If you are managing a construction business or need an inventory template you can customize that has more advanced features than Excel templates, take a look at Spreadsheet.com’s Inventory Tracker template. In addition to what Excel templates have to offer, this template leverages advanced features like automations, Kanban and Calendar views, Attachments, and Related Rows. The latter allows you to create a no-code relational database in a few clicks, so you can do things like assigning inventory items to appropriate warehouses.

This Stock Inventory Control template by Vertex42 is a straightforward tool that doesn’t use macros, hidden sheets, or formulas. It can give you a quick start on getting your inventory management up and running. It includes reducing surplus inventory and processing inventory updates, helping you keep track of locations, in and out-of-stock inventory, items on order and backorder, and more.

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For more complex inventory tracking needs, you can use Spreadsheet.com’s Inventory Management template. It’s easy to customize and allows you to manage products, sales, fulfillment centers, and vendors all in one workbook.

Among the advanced features used, this template leverages the Attachment data type, allowing you to embed files directly into your spreadsheet workbook. Inventory photos (or any other documents) live directly within your spreadsheet and can be added with a simple file drag and drop from your computer.

Also, it utilizes a built-in Kanban board to provide a quick visual overview of items and their status.

Spreadsheet.com’s Cafe inventory Management template is custom-built to help you manage your cafe or restaurant’s inventory. Manage all of your items and their sale price. 

Utilize a Kanban view to organize items by category and inventory status. Related Rows let you link the Items and Inventory worksheets to keep track of item cost, track how many items are in stock, and more.

With Spreadsheet.com, you can track your inventory levels in real-time, ensuring that you never run out of stock. 

Manage all aspects of your business with Spreadsheet.com’s templates.