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Inventory control system. Tracking average price.

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    Inventory control system. Tracking average price.

    Hi Forum Helpers,

    I have a crude excel inventory control system but would like advice on how to make the recording of stock, sales and current inventory more efficient.

    I manually enter all data to track sales. Some products have constant inventory while others are made to order and inventory stays at zero but sales have to be shown as incoming and outgoing inventory for VAT reclaiming purposes.

    Some problems are that when stock is ordered at different prices the remaining stock needs to then have an average price. I’m finding it difficult to track and work this out with a formula that I can drag and apply to all rows/columns.

    Tracking the inventory over time leads to longer and longer entries as more product is sold.

    I have attached an example sheet that I have limited the product entries to. Normally the sheet has about 200 product entries.

    Any ideas? Should I switch to some other sort of inventory control or database software.

    Thanks

    Joanna
    Attached Files Attached Files

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    Forum Moderator AliGW's Avatar
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    Re: Inventory control system. Tracking average price.

    Welcome to the forum.

    A good sample workbook has just 10-20 rows of representative data that has been desensitised. The sample layout accurately matches that of your real data. It also has expected results mocked up, worked examples where required, relevant cells highlighted and a few explanatory notes.

    You are gpoing to have issues with this dreadful data layout, whatever happens - sorry.
    Ali


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    Re: Inventory control system. Tracking average price.

    Hi AliGW,

    Thanks for the incredibly quick response. I understand the data layout is not optimal, hence my request for advice and help in my original post.

    If any other forum members have the time to read the post and offer any constructive advice or help it would be much appreciated.

    Best,

    Joanna,

  4. #4
    Forum Moderator AliGW's Avatar
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    Re: Inventory control system. Tracking average price.

    As I said, you need to mock up what you want:

    It also has expected results mocked up, worked examples where required, relevant cells highlighted and a few explanatory notes.
    In the absence of any mock-up, consider this: a normalised data layout is what you need. This means ONE ROW per TRANSACTION.

    A transaction could be:

    1. a sale;
    2. stock acquisiton.

    The key field would be the SKU, so this:

    AliGW on MS365 Beta Channel (Windows 11) 64 bit

    C
    D
    E
    F
    G
    H
    I
    J
    K
    L
    9
    11111
    10
    INV2021120113 22-Dec-2021
    117.3
    1172.7
    5
    2022-00004 28/05/2022
    5
    586.4
    10
    5
    INV2022080018 3-Aug-2022
    129.1
    645.4
    0
    10
    1290.8
    11
    6
    INV2023100127 31-Oct-23
    121.9
    731.3
    6
    2023-00015 AL 25/8/23
    10
    1218.8
    1,218.81
    Sheet: End Dec 23

    would need to become FIVE transactions (rows) that are DATED. Sales and stock purchases would be in one column, incomings and outgoings would each have a column. You could do the same for stock in and stock out, then you could have a financial balance column and a stock balance column.

    So, have a go at changing the layout in this way.

    AliGW on MS365 Beta Channel (Windows 11) 64 bit

    N
    O
    P
    Q
    R
    S
    T
    U
    V
    W
    X
    9
    SKU Date Transaction (Sale/Stock Purchase) Invoice Unit Cost Debit Credit Balance Stock In Stock Out Stock Balance
    10
    1111
    22/12/2021
    Stock Purchase INV2021120113
    1172.7
    1172.7
    10
    10
    11
    1111
    28/05/2022
    Sale 2022-00004
    586.4
    1759.1
    5
    5
    Sheet: End Dec 23
    Last edited by AliGW; 03-16-2024 at 01:43 AM. Reason: Added suggestion.

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