Create an Inventory Management Template in Excel with Formula | Free Template Download

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Template featured in the video:

Demo file:

In this video I demonstrate how to create an inventory management template in Microsoft Excel. The template includes four tables: Opening Stock, Stock In, Stock Out and Closing Stock.

This video will teach you the following:
1) How to create Excel tables and why they are useful - especially for dynamic ranges
2) How to use data validation to create drop-downs
3) How to use the VLOOKUP function
4) How to use the SUMIF function

Table of Contents:

00:00 - Intro
00:35 - Create Official Excel Tables
03:35 - Opening Stock Table
04:59 - Closing Stock Table Pt1
06:00 - Stock In Table
10:30 - Stock Out Table
12:27 - Closing Stock Table Pt2
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[sidikiekonneh]

I’m a freelancer this help me a lot especially with my small business owners who want to keep it simple
Thanks

[abiodunogunseye]

U just made the inventory system easier and you earn a subscriber

[convinth]

Superb tutorial! Clear, unhurried and concise.

[Jojosmith]

Thumbs up as always for the BEST instructor Chester Tugwell for the clear and valuable tutorials. Thank you very much for all your lessons and great tips 👍

[aaagwz]

Honestly, you are the best! You are very generous as well for sharing your template. Thank you!

[KarisaMc]

Wow, Thank you so much for this you have no idea on how happy I am. Your work is amazing. Much love from South Africa.

[nyaguthiiwangai]

I enjoyed every step of this. Thank you Chester

[JohanneCaglianone]

Wow. I want to learn more from you. I am taking over Logistics/Inventory Control/Demand Planning for a small retail and e-commerce company that is just a mess. I have no experience and am learning data analytics using excel and tableau. I am trying to get his in a way as you hsve explained so I have at least a handy way to track inventory. Thank you. I am going to try this!

[robertsmeansbusiness]

Simple and to the point. Great for small businesses. However, how can one inculcate the accounting concepts of FIFO, LIFO etc. in computing the closing stocks prices?

[ahsanw]

Great job men.I really appreciate your way of guidance.🥰😇🥰

[noratun]

Thank you so much sir. I am running a small business and this is very helpful!

[IvanCortinas_ES]

Super tutorial. Thank you for the video and for the template! Excellent tutorial!

[robotbobusa]

A big thanks to you for taking the time to make these videos on Microsoft Excel! Do you happen to have a video showing us how we might add a scanning ability to update our In and Out inventory? So that if I scan a custom Barcode, I have created it will add or remove stock from my Inventory Management and or the In and out sheet? Thanks in advance.

[adnanabbasi]

A very useful video on stock management. However, it would be more of interest to the masses if it would address with weighted average pricing and variable purchased price each time along with the selling on different pricing and the profitability out of it.
But, thanks again for the video.

[simbarashezhou]

This is wonderful.... thank you so much

[stimpys]

I have been trying to do exactly this, brilliant

[wayneedmondson]

Nice one Chester! Using Excel Data Tables makes it very efficient. Thanks for sharing this example :)) Thumbs up!!

[zanderhuynh]

I love it! Can you show us how to make another sheet for bill of material to make finish product!

[mohamedyusuf]

hi brother
I used your invoice tutorial and created mine for my shop it worked well and was time-saving, and now I am following your inventory management system but the problem I'm facing is once I created my header and convert that into a table my paste link button is not shown, but outside the table in the same sheet is working what to do please help me out.

[dannaibnsaid]

Nice. I am so happy subscripe to the channel.
Please how can we include fifo lifo and multiple shops to this inventory