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What is inventory management? Basically, is the process of keeping your parts, products, and assets organized across all of your warehouses. It involves numerous tasks, such as keeping track of the number of items in stock, reordering them from time to time, monitoring their movement from one location to another, and more.Also encapsulating warehouse management, inventory management is extremely useful at maximizing your warehouse space and speeding up the receiving, picking, packing, and shipping processes. It keeps your inventory quantities balanced so you will have enough on hand to meet demand without going overboard and winding up with an unnecessary overstock. If you’re going to use an Excel inventory management solution, you might as well do it right. That’s why Fishbowl came up with an that you can download and use for free.
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Click the link above and fill out the form on that Web page with your name and email address to get the template.This Excel spreadsheet is designed to organize your inventory parts, quantities, vendors, and more in one location. It also helps you know when you’re close to running out of specific items and how many to reorder them when the time comes.Here are all of the columns in Fishbowl’s Excel Inventory Template.
The reorder point is connected with the lead time and the order quantity as a function of time. In determining the reorder point the following three factors need to be at hand: 1. Demand - Quantity of inventory used or sold each day 2. Lead Time - Time (in days) it takes for an order to arrive when an order is placed 3.