Inventory Control via a Stock Tracker in Excel , Days of Inventory calculation in Excel.
Course Description
In today’s dynamic business environment, understanding how much stock you have at any one time is crucial to ensure smooth operations, minimise costs, and meet customer demands. Throughout this course, you will learn the fundamental concepts and techniques of supply chain analytics in Excel, focusing specifically on inventory tracking and stock management in Excel. Discover the technique to calculate days of inventory, a key metric that measures the average number of days it takes to sell inventory.
By leveraging the capabilities of Excel, you will gain practical skills to analyse inventory data, make informed decisions and enhance overall supply chain efficiency.
The course contains a practical section and provides a template in Excel, which you will be able to adjust to your business needs. You can build a simple but effective Inventory Tracker in Microsoft Excel and this course will teach you how to do it!
By the end of this course you will have acquired practical skills to build and maintain your inventory or stock tracker in Excel, enabling you to make informed inventory management decisions, improve supply chain performance and ensure that the right amount of supply is available within your business. You will also be able to calculate and analyse days of inventory, a critical metric for measuring inventory efficiency.
COURSE CONTENTS:
1. Introduction to the Stock Tracker in Excel
Welcome!
WHY do you need to track your inventory?
2. The advantages and disadvantages of stock holding
The true costs of inventory
“Excuses” for inventory
3. Days of Inventory
The definition and formulas
“Show and tell” in Excel
4. Stock Tracker in Excel
Document overview
Practical part
Who this course is for:
- Relevant to all industries
- Business owners
- Anyone who deals with inventory management
- Supply Chain and Purchasing / Procurement Professionals
- Finance Professionals
