Basic Inventory Management in MS Excel
Inventory tracking, VLOOKUP, SUMIFS, reorder points, and stock valuation
About This Course
Course Information
This course will help you develop basic understanding of how to use spreadsheets to prepare a simple inventory management template. This template with help track inventory, value the closing inventory, and also help establish when to place an order for the inventory, to avoid stock outs.
Certificate on Completion
This course is made up of videos, questions and additional reading materials and accounts for 5 units of CPD. One unit is the equivalent of one hour of learning. A certificate will be issued once you have completed all 5 units.
Course Sections
This Course is made up of the following sections:
- Preparing Inventory ‘In and Out’ Record (Video and Quiz)
- Preparing Inventory Summary (Video and Quiz)
- Additional Quizzes and Course Completion Survey
- Additional Reading Materials
What You Will Learn
- Prepare an inventory in-and-out record template using data validation and VLOOKUP
- Apply SUMIFS to calculate total quantities purchased and issued per item across multiple stores
- Calculate closing inventory values and identify items that need reordering
- Explain how an alphanumeric coding scheme organises inventory items in a spreadsheet
- Describe how conditional formatting and hidden sheets keep the template clean and easy to use
- Identify how to extend the template by adding new store locations and transaction data
Who This Course Is For
- Cost accountants and bookkeepers responsible for tracking stock levels
- Small business owners who manage inventory without specialised software
- Finance professionals who want to build a reusable inventory tracking template in Excel
Prerequisites
- Basic familiarity with Excel (entering data, navigating between sheets)
- No prior inventory management knowledge is required
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Course Details
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