Free Google Sheets Inventory Template for your Small Business
Most eCommerce operators and retailers use inventory management software to track their products, profits, needs and sales. But for small business operators, a spreadsheet can do the job well for little to no cost. It’s possible with Google Sheets.
In the startup stages of your business, using a spreadsheet is a perfectly acceptable way to manage your inventory. Google Sheets has plenty of functionality to get you off the ground and it’s free. With a spreadsheet, you can pre-define the relationships between the cells in the table, so that changing one cell (for example, inventory count) can affect another cell (like the point at which you need to reorder).
In fact, unless you have $100k - $1 million in turnover, a spreadsheet is great for businesses that keep a small volume of inventory, with only a couple suppliers.
Similar to an Excel-based inventory management system, Google Sheets lets you and your team:
Manage purchase orders to see what’s on hand and calculate the cost of goods on hand;
Track sales orders to see what has been fulfilled and what the revenue from those sales is;
Quickly review both top selling and underperforming items.
Download your Free Inventory Management Spreadsheet
Setting permission levels lets some people read-only while others can edit and update.
It’s online, so it can be accessed from any web browser or mobile device for on-the-go updating.
Macros and formulas can be set to perform instant calculations.
Charts can be generated based on data from the spreadsheet to show trend lines, demand spikes and more.
Additionally, like any spreadsheet, new columns can be added for other data you need to capture in order to make successful choices.
While there are still risks involved – including manual work that lead to human error, confusion and time wasted – cloud-based solutions or ERP software may still be out of reach for many small business owners.
Google Sheets offers a great starting point to streamline your business and use the information at your fingertips to keep growing.