Inventory managment

Hey everyone! This is my first time on this forum, and I am unsure if I am even posting in the right group, but here it goes!

I am a small business owner and need to refine my inventory management situation. I saw a tutorial on how to set up a program similar to what i am looking for but not exactly. Here is the scenario:

I make a product X - X is comprised of 3 y's, 4 t's, 2 z's and 5 o's. I also make a product A - A is comprised of 4y's, 2T's 2z's and 1B.

I want to make a program where I can track my stock (y, t, z, o and b) that make up a product, deducts the stock items assigned to the product (X or A) when i sell the product, and alerts me to when my stock is getting low.

Thank you to anyone who can help, I am sure this may be a common knowledge thing for the majority of you!!!

Thank you so very very much! I will try this out tonight and post how it goes!

Martin has created an elegant solution for inventory management of kitted or assembled products.
This solution is robust and extensible and could be readily adapted to track single unit items.

Entering the inevitable inventory corrections as well as sales is simple and easy to understand.

It would not take a lot of effort to add component costing data to this workbook to arrive at a
total cost of inventory which would be a great help in projecting future inventory expenses.

I was so intrigued with this I added a small section that can be used to project inventory needs
based on sales history and the desired total parts inventory count (and with cost data would also
show planned inventory expenses).

Thanks Martin and Bethany. This was fun.