When using Excel, here are some steps to guide you:Ĭlick Insert, Tables, then click PivotTable.Ĭhoose the table range in the dialog box that pops up.Īlthough Excel is an important tool for keeping track of inventory, its efficiency solely depends on how you keep track of and calculate everything. But if you can spend some time to add the whole month’s data into a pivot table that’s easy-to-read, you can fix this problem.Īlthough this is time-consuming, it enables you to keep track of your sales based on a certain period for inventory optimization. One of the main problems people have when using Excel is not analyzing historical data. You must do this on a regular basis while paying attention to special occasions and holidays. If you can take time to consolidate your data each month, this allows you to make charts that show how much you have sold for that month. This is why you should update the document as often as possible to prevent any issues related to your inventory. Excel isn’t a real-time solution for inventory management and as such, you will never see the real value of your inventory at that moment. Make sure that whoever handles orders should immediately update the document to avoid issues. You can avoid such errors by creating a daily review and self-auditing. But finding mistakes on sheets of hard data and numbers can be truly challenging unless you know what you need. Surprisingly, many professionals don’t use Excel in their inventory management because they believe that humans tend to make mistakes.
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