Inventory management is challenging for every business. It includes a range of critical aspects, such as keeping track of stock levels, ordering, and storage management. Excel is one of the best spreadsheet programs for managing inventory and avoiding the risk of understocking and overstocking.
There are hundreds of built-in functions and tools to let users build a comprehensive inventory tracker that can be shared with their colleagues for real-time collaboration.
A standalone inventory tracking app is not a pocket-friendly solution for small business owners. Excel is, without a doubt, the best alternative here.
It is known for its simple user interface, which allows users to create a comprehensive inventory tracking template. Many ready-made Inventory tracking templates are also available.
In this quick guide, we have compiled a list of the top 13 FREE Excel Inventory Templates. All of them are unique in some regards, so make sure to read the article till the end until you find the right fit for your needs.
Why is Inventory Trackers created using Excel a must-try?
Microsoft Excel boasts various templates to organize day-to-day activities and improve your productivity. It is the top spreadsheet application for managing and analyzing massive datasets.
There are numerous benefits of using Excel for inventory tracking.
- User-friendly Interface: Excel provides an intuitive interface for tracking and managing inventory. It is accessible through both desktop and mobile devices. Every essential tool is directly accessible from the program’s main menu.
- Real-time Collaboration: An Inventory template created in Excel can be shared with unlimited users. Your colleagues can make changes in real-time, allowing users to keep track of each other’s changes over time.
- Cost-effective: If you use a Microsoft Office subscription to manage your organization’s data, then Excel comes free for you. Users can also purchase Excel for a reasonable price to manage their inventory like a pro.
- Extensive Customization: Excel boasts hundreds of customization tools. Using Excel’s built-in tools and functions, it is straightforward to create an inventory tracker with the required features. Moreover, features like Conditional formatting and drop-down lists help users create a comprehensive and attractive inventory tracker.
- Unlimited Inventory: Excel offers thousands of rows and columns, which means that you are not limited by the number of products you add. Additionally, you can choose to create separate sheets for inventory, reports, orders, and more within a single Excel spreadsheet.
The list of benefits doesn’t end here—there are more! Excel is worth trying if you are looking for a pocket-friendly inventory tracker that can be scaled over the next couple of years.
Top 13 FREE Excel Inventory Tracking Templates
Creating an Inventory Tracker in Excel is easy, but you need advanced knowledge of it. A few tools require expertise to implement, and functions have complex syntax. In other words, you need to spend significant time creating an inventory tracker using Excel.
But don’t worry, we have got you covered.
If you don’t want to fall into this hustle and bustle of creating an inventory tracker from scratch, then here’s a list of the top 13 inventory tracking templates created by Excel experts.
- Simple Inventory Tracker by SoftwareAccountant
- Inventory Management Template by Quickbooks
- Advanced Inventory Management Template by Sheetgo
- Home Inventory Spreadsheet by Vertex42
- Food Inventory Tracker by Coupler.io
- Office Supply Inventory Template by SoftwareAccountant
- Asset Inventory Template by Vertex42
- Software Inventory Tracking Template by Smartsheet
- Chemical Inventory Tracker by Coupler.io
- Personal Inventory Template by Smartsheet
- Retail Inventory Template by GooDocs
- Book Inventory Template by Smartsheet
- Art Inventory Tracker Template by SoftwareAccountant
In the following section, we will discuss each template in detail. You can click on the respective names of the template to jump to that particular section of the article.
1. Basic Inventory Tracker by SoftwareAccountant
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This one by SoftwareAccountant is free to download and a perfect fit for small businesses.
The basic Inventory Tracker template allows users to input the product name, available stock quantity, location, cost, etc.
They can also add their company’s name along with the logo in the first row. It will ensure a personal touch while making it more convenient to share it with colleagues. Just below the header row, you will find a summary of the total inventory, current investments, and number of items you need to reorder.
The template is designed in such a way that you get notified when the stock goes low.
Whenever you update a product’s stock quantity, the template updates the entries in the “Reorder” column. The row’s color also changes to green so that it is easy to identify.
But for these automated features to work, you must specify a minimum stock quantity for each product.
It uses dropdowns for the “Location” and “Item Discontinued” columns to make it easier for users to select predefined options.
2. Inventory Management Template by Quickbooks
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This is another simple and effective tool for managing your inventory. It will help you keep track of your stock levels, monitor the sales, and manage orders.
You will find different worksheets for managing products, purchases, sales, and reports.
You can quickly enter your product details, including item names, quantities, descriptions, and prices. The template also includes dropdowns for selecting product locations and marking items as discounted. It aims to help users maintain consistency and reduce errors.
The template automatically calculates totals and can generate reports to give you insights into your inventory status. It is a perfect fit for small businesses with a limited number of products.
3. Advanced Inventory Management Template by Sheetgo
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This template by Sheetgo boasts an impressive dashboard for inventory management. Business owners can quickly know the total inventory available and quantities sold over a given period.
You can find detailed instructions on how to use this template on the first sheet. There are four more sheets in the template as follows,
- Check-in – Use this sheet to keep track of the inventory entering the company. You can add the date, SKU, item name, and quantity for each product. It uses a helpful dropdown for the Unit of Measure column to let users select the appropriate units.
- Check-out – This worksheet is used to track inventory sold over time. You can select the SKU, and the spreadsheet will automatically update the product’s name. Then, you can select the date and enter the quantities sold on that particular day.
- Current inventory list – This is an automated sheet that is not editable by users. It is nothing but a report that calculates the available inventory based on the data entered by the users in the Check-in and Check-out spreadsheets.
- Dashboard – As the name suggests, this is a master sheet for inventory managers. It gives them a quick overview of the total available inventory, items sold per day, stocked-out items, and much more. All the graphs and numbers in this worksheet depend on the data provided by the users in the Check-in and Check-out sheets.
This comprehensive template is worth trying.
You can download the template for free and customize it as per your unique requirements without any limitations.
4. Home Inventory Spreadsheet by Vertex42
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This inventory tracker is focused on organizing items from your home. You can use it to keep track of the total items in your home, including their price and age.
Make sure to fill in your personal information, like your name, address, and phone number, below the main header. The template also has a special section that may be useful for insurance purposes. You can specify details like Purchase price, warranty information, serial numbers, condition, and model numbers for each item.
One feature that makes this template special is that you can even add photos or videos of your items for added convenience. It ensures your household items are organized and easily accessible in case of loss or damage.
This template doesn’t use any complex formulas and dropdowns. It is pretty straightforward.
5. Food Inventory Tracker by Coupler.io
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Here is a simple-to-use Food Inventory tracker for restaurants. In this template, you can enter item names, define categories, allocate storage locations, specify quantities, and much more.
The template also uses dropdowns for the columns “Staple?” and “To Buy?” to make your task easier and boost your inventory management speed.
You only need to add the item name, quantity, and cost manually. This process is pretty straightforward and can be used on mobile and desktop devices.
Now, what are you waiting for? Download the template and start entering the inventory details now.
6. Office Supply Inventory Template by SoftwareAccountant
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This is another comprehensive template by SoftwareAccounant for managing your Office inventory.
This template allows you to add name, description, type, location, condition, service years, cost, date of purchase, and validity for each item. At the top, you will find the summary of the total inventory in your office, along with its cost.
Add your company name and logo to personalize this free-to-download template. You can also adjust the formatting.
The template is pretty straightforward, with minimum formulas. Click on the link above and start entering the inventory details today.
7. Asset Inventory Template by Vertex42
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This is a perfect template for managing your product inventory.
Start by adding the company name at the top. Then, specify product details, including name, descriptions, locations, purchase information, and current value. The template also includes columns for item ID tag, category, department, Supplier, purchase date, price, quantity, warranty, and total value.
There are two sheets in the template. The first one lets you keep track of the inventory.
The second one is named “Suppliers” and is used to maintain supplier contact details such as the Supplier’s name, email, phone number, and address.
This template is suitable for small businesses to track inventory without the need for complex software. You can download it for free and customize it according to your unique requirements.
8. Software Inventory Tracking Template by Smartsheet
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This is yet another helpful inventory template for IT professionals. It allows them to track their software and hardware inventories.
The template has separate sheets to keep track of your software and hardware purchases.
It has columns to record the license expirations and upgrades. You can quickly locate where a particular software has been installed, the supplier and purchase information, and view license renewal dates.
At the top of the template, you will see the total inventory value.
Make sure to edit and add more fields if necessary. It is a fully customizable template that can be adjusted to meet your specific requirements.
9. Chemical Inventory Tracker by Coupler.io
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There are numerous categories of hazardous chemicals. This template aims to create a comprehensive list of those used across the given company.
Office admins and safety engineers are always asked to get the list of hazardous chemicals used in their office. This template helps executive officers list down all the dangerous chemicals along with their manufacturer details and first aid.
It uses a dropdown to let users select a category for chemicals. Make sure to add more categories based on your company.
10. Personal Inventory Template by Smartsheet
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This is a multi-purpose inventory template for recording personal belongings. It is helpful during natural disasters or other emergencies.
This template helps you track your personal collections of media, artwork, books, and other collectible items. It helps you quickly categorize personal items, describe their condition, and document their value.
The template also has different sections for recording the owner and insurance information.
If you are looking for an inventory tracking template for personal use, download this fantastic template by Smartsheet and start entering the details.
11. Retail Inventory Template by GooDocs
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A Retail Inventory helps businesses manage and track their stock levels, sales, and orders.
The template is similar to a couple of others discussed previously but comes with a nice-looking design.
It allows users to record details like item names, quantities, prices, suppliers, and restocking levels.
You can quickly assign a category and subcategory to each item using dropdowns. The template uses built-in formulas to automatically calculate the total products in stock, total cost value, and total selling value. It aims to allow business owners to maintain inventory levels, reduce stockouts and overstock situations, and streamline inventory management processes.
Do not mess up with any formulas within the template. If you do, press “CTRL + Z” to undo the changes; otherwise, automated features will not work as expected.
12. Book Inventory Template by Smartsheet
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This template by Smartsheet is designed to keep track of the Book Inventory in your library.
You can add the book name, author, publisher, location, and cover type to describe a book in your inventory. This template also helps you keep track of the number of books required and ordered and the amount in stock at present.
Apart from the above, the template lets you track the book shipment details using order date, ID, expected delivery date, and shipping service provider.
This is a very simple template that does not involve formulas or dropdowns. In other words, it can be used by anyone with a little knowledge of Excel.
13. Art Inventory Template by SoftwareAccountant
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Last but not least. This basic template by SoftwareAccountant is created for art lovers.
Artists can keep track of their unique purchases within the last few months. The app lets them add item details such as name, description, cost, etc., along with the purchase details and expected date of delivery.
The template is pretty straightforward. It lets you track the items you create and sell over a given period of time, whether you create art and sell it offline or online.
To Summarize: Excel Inventory Templates
If you can’t afford a standalone inventory tracking app, then look no further because the Excel Inventory Tracker Template is the all-in-one alternative.
All of the templates discussed in this article are free to use. They will surely save you time and money.
Let us know in the comment section if we are missing any fantastic Inventory Tracking Templates that are worth adding to this list.
Also, make sure to explore our blog section for more tips and tricks for using Excel like a pro.