Select the table range (for example, 1A-21G) in the “Create Pivot Table” dialog box that pops up.Click “Insert,” Choose ‘“Tables,” select “PivotTable.” (Click the arrow below PivotTable to create a chart.).Here’s how to create a pivot table in Excel: It is time consuming, but it allows you to track your sales based on period and during different seasons, for better inventory optimization in the future. Taking the time to add your entire month’s data into an easy-to-read pivot table will fix this. One of the biggest issues many people have with Excel is not being able to easily analyze historical data. You should do this monthly and quarterly, paying special attention to holidays and special occasions. Taking the time to consolidate your data on a monthly basis allows you to create charts that outline how much you sold in each period. You can also modify Microsoft’s basic free template (available when you open Excel) to your needs, purchase a template, or create your own. You can then use Excel formulas to automatically calculate information for total sales and total profit, and organize your inventory based on products that sell the most using a few simple formulas. If you would like to gain a deeper understanding of crucial inventory management techniques and how you can apply them to your business, check-out our blog on inventory management tips. However, keep in mind that the more columns you have, the more difficult it is to keep up with all the data and manage inventory control. If you want, you can also include sales quantity or value, reorder point, whether or not the product has been discontinued, and the total inventory value. There are a lot of ways to make an inventory sheet in Excel, however, a basic template for your Excel inventory tracker should include: While it is easy to make mistakes in Excel’s inventory management templates-and avoiding them will require time-consuming auditing, proper organization, and strict management-Excel is capable of handling a startup business’s inventory, especially in the early stages. Like anything that’s free or cheap, Excel inventory management isn’t perfect, but it has plenty of valuable features. While not ideal for a medium- or large-sized inventory, Excel is cost-effective or, if you use it in OneDrive, even a free inventory management tool. With integrated tools, features, and formulas to make spreadsheets more dynamic and interactive, Excel is also capable of handling basic inventory management for small businesses. Many businesses already use Excel for accounting or spreadsheet forms, and it is an alternative option for applications like inventory management. If you’re looking for a low-cost way to manage and track inventory, Excel could be an effective solution. Understanding inventory management with Excel
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