7 Essential Features of a Stock Tracking Spreadsheet
Introduction: A Stock Tracking Spreadsheet serves as a powerful tool for managing inventory. Businesses of all sizes use it to monitor stock levels, track orders, and optimize purchasing decisions. When set up correctly, this spreadsheet can streamline operations, reduce waste, and prevent stockouts or overstocking. To maximize its effectiveness, certain features must be included. Below are seven essential features that should be present in your spreadsheet. 1. Inventory Levels and Alerts The first and foremost feature of this spreadsheet is the ability to monitor inventory levels. This involves listing all products, their quantities, and the status of each item. The spreadsheet should automatically update as items are added or removed. A critical aspect of this feature is setting up alerts for low stock levels. This ensures that you receive timely notifications to reorder stock, helping to prevent stockouts. 2. Product Details and Categorization This spreadsheet includes detailed p