A simple inventory management system should be able to identify how much goods are left in the store, which products require re-order and where, when and which goods have moved in and out of the warehouse. Thus, generating accurate reports is important. But to be able to do this, the data must first be organised systematically.
Inventory Management Software
Using the details, we could set up a pivot table to summarise the stocks that move in and out of the store. It will allow us to organise the report so that we could identify the stock level by product groups, product name and the locations they have moved to and from. The records could also be grouped such that we can track the stock movements by month. In our report below (refer to row above grand total), we can quickly establish that there is a net increase of 19 units of adhesives in the month of Oct, a net decrease of 3 units in the month of November, another 4 units drop in Dec, which all resulted in 12 units of adhesive left in the store.
Using the same report, we could drill down to see the movements of individual products
in the Adhesive group by month.
Alternatively, we could also present the quantity of stocks remaining in the store by changing the setting of the report. In our example below, we are able to know that the store is left with 4 units of “3M Command ADH Large Hook” in Nov and 1 unit in Dec. If we sort the report in descending order, we could immediately list down the products we have to top up quickly to prevent an out-of-stock situation. More on Inventory Management


