| An Inventory Management System is not only about | | | | movements of individual productsin the Adhesive |
| keeping records of the stocks movement in and out of | | | | group by month. |
| a store or warehouse in an Excel spreadsheet. A | | | | Alternatively, we could also present the quantity of |
| simple inventory management system should be able | | | | stocks remaining in the store by changing the setting |
| to identify how much goods are left in the store, which | | | | of the report. In our example below, we are able to |
| products require re-order and where, when and which | | | | know that the store is left with 4 units of "3M |
| goods have moved in and out of the warehouse. | | | | Command ADH Large Hook" in Nov and 1 unit in Dec. |
| Thus, generating accurate reports is important. But to | | | | If we sort the report in descending order, we could |
| be able to do this, the data must first be organised | | | | immediately list down the products we have to top up |
| systematically. | | | | quickly to prevent an out-of-stock situation. |
| Using the details, we could set up a pivot table to | | | | And if this report is still not too relevant, we could even |
| summarise the stocks that move in and out of the | | | | show the stock movements (the ins and the outs) for |
| store. It will allow us to organise the report so that we | | | | each month and then the stock balance for the month |
| could identify the stock level by product groups, | | | | to better explain the stock movements for the month. |
| product name and the locations they have moved to | | | | To make it easier to capture the details and improve |
| and from. The records could also be grouped such | | | | on the accuracy of the data records, we also shared |
| that we can track the stock movements by month. In | | | | on we could set up a dropdown list that is dependent |
| our report below (refer to row above grand total), we | | | | on the selection made by the user using another drop |
| can quickly establish that there is a net increase of 19 | | | | list. |
| units of adhesives in the month of Oct, a net decrease | | | | The complete system helps to improve the data |
| of 3 units in the month of November, another 4 units | | | | entered into the inventory management system and |
| drop in Dec, which all resulted in 12 units of adhesive | | | | then prepare reports that help the store manager to |
| left in the store. | | | | make better quality decisions with regards to stock |
| Using the same report, we could drill down to see the | | | | replenishment and stock movement in the store. |