Learn how to create dynamic inventory management template in Excel.
Automating inventory management in Excel involves creating a system that tracks and updates inventory levels in real-time. To start, Excel offers pre-designed inventory templates that streamline the process. Utilize these templates, such as "Inventory Control" or "Stock Inventory," to input item details, quantities, and transaction records. Then, you can employ Excel's built-in formulas to calculate inventory, with a basic formula being "=Initial Stock + Purchases - Sales." For effective inventory tracking, Excel can be a suitable choice, especially for small to medium-sized businesses. However, for more complex and extensive inventory management needs, Access, a relational database system, might be a more robust option. To create custom inventory management software, you'll need to consider using programming languages like Python or developing a dedicated database application, depending on your specific requirements.
Inventory Level As A Text
=IFS(I5＜=$D$6,$C$6,I5＜=$D$5,$C$5,I5＜=$D$4,$C$4)
Breakdown this formula
If my fruit inventory level is less than or equal to that of "Order now" level in cell D6, I want to display the text "Order now" from cell C6.
Else if my inventory is less than or equal to Low level, I want to display the text "Low"
And if my inventory is less than or equal to Normal level, I want to display a text of "Normal"
If your fruit inventory is less than or equal to the "Order now" level in cell D6, display "Order now" from cell C6. If your inventory is less than or equal to the "Low" level, display "Low." If your inventory is less than or equal to the "Normal" level, display "Normal."
Filter List
1) Select cell D8
2) Data ~ Data Tools ~ Data Validation
3) Setting tabs
4) Allow = List
5) =$C$4:$C$6
6) Enter
7) Enter
Filter Based On List
=FILTER(H5:J84,J5:J84=D8)
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