Free Business Inventory Templates
What Is Business Inventory?
A Business Inventory is a record of such assets that exist and are owned by a company. A company must maintain an inventory list in order to determine if the goods it have acquired are all still there, remain in good functioning order or if they have reached the point when repair procedures are required.
- Small Business Inventory;
- Business Inventory Spreadsheet.
This document may be helpful in a variety of contexts, depending on the purpose which the company is trying it to fulfill. There are many different sorts of organizations in existence, specializing in different spheres and being of different sizes. This may impact the type of inventory you use for example you may use an inventory template for small business if your organization is not too big and your inventory numbers are low. However, despite having a variety of forms, they all serve the following purposes:
- A record of machinery, equipment, supplies as well as other goods that are located within a company. This also includes their numbers;
- A record of company assets, their present state as well as the repairs required to ensure that they continue functioning effectively and can be used as and when required;
- A record of the specific location of each item.
For a full list of Business Inventory templates please feel free to check out our library below.
Business Inventory Template Types
- A Product Inventory Template is employed to keep track of data regarding the number of products available within a business along with other goods that an organization uses. The specific product, an identification number, a brief summary, the supplier, the location of the product, the number of products, and their price should all be included.
- A Supply Inventory Template is essential in precisely and effectively managing the supply inventory across the whole workplace. To minimize the chances of a shortfall or upsetting business operations, the management team must keep records of and organize the goods in the inventory;
- An Equipment Inventory Template helps businesses to keep track of the condition of equipment that is crucial to the operation of an organization. It is also useful in tracking the price and quantity of specific equipment;
- An Inventory Report Template lists the goods or other products that can be utilized for a set amount of time. Inventories might include the inspection of the goods required for constructing things, or they can include finished goods that are ready for sale;
- A Chemical Inventory Template is used to record information about any chemicals that a specific workplace or school possesses. Any companies involved in the production, distribution, and trade of chemicals, as well as schools and colleges with laboratories, must adhere to requirements about precautionary measures to treat the chemicals they possess with great care and ensure that everything is monitored;
- A Computer Inventory Template is used to record information about each computer, including its brand, type, identification number, operating system, processors used, condition and care for the computer;
- An Inventory Checklist template is a summary of the products that are kept in a particular location or division of a corporation. It aids in structured monitoring and control of the products. Because every product inside the inventory is included, this template can be utilized for carrying out an inspection;
- A Data Inventory Template can be used to store information about the types of data stored within a company and the exact place it can be found.
How to Do Inventory for a Small Business?
If your business is not too large, you will most likely have a much smaller inventory. This means that you may benefit from a small business inventory spreadsheet as a way to keep and record inventory. It is free and once you set it up, you can simply make edits to update the spreadsheet, unlike specialized systems which are better for bigger businesses and are very expensive.
Regardless of the type of business you own, follow the steps below to create a successful inventory:
- Start by creating a table and adding columns that will contain information concerning particular stock, the numbers and measurements, price per item, the location of this item, and the total cost;
- Note down all available stock and we would recommend grouping specific products that are similar or that may need to be used together;
- Write down the price of all individual goods. This will tell you the cost of goods in addition to the price it would cost to restock a particular item;
- Rely on a team to manage the inventory – but note that whilst it is more efficient to have the same individual manage over time leading to a boost in their ability to see patterns or inconsistencies, it may so happen that theft can occur when only a few individuals are given such powers.
Why is Inventory Important in Business?
The processes and systems of almost all businesses depend heavily on inventory. The amount of inventory a company has is listed as an asset. Businesses that keep inventory must be aware of the amount they possess and what it is valued at, at any given time in addition to the location of this item.
Organizations are able to effectively organize their budgets thanks to this information about their inventory. It is no good wasting time, money, and effort trying to sell something if it turns out that this product is simply nonexistent. With an inventory, such situations can be easily avoided and stocks replenished as required.
Still looking for a particular template? Take a look at the related templates and forms below: