This requires you or your staff to spend an inordinate amount of time validating the amounts in your workbook. Tracking large quantities of items in Excel increases the likelihood of data entry errors, especially if your inventory moves frequently from location to location.Inventory Control Software Results in ROI for Small BusinessĪnd money investment needed to address the following limitations of Excel: Why will using Excel cost you money now when it didn’t before? Imagine the time Continuing to use Excel to manage your growing business will cost more money than investing in an inventory management solution. However, as your business grows, you will quickly leave those benefits behind. Yes, using Excel is relatively easy, convenient, and cost effective –- in the beginning.
Unused inventory costs money, as does not having enough inventory to meet customer demand.”Įxcel’s Limitations: Ineffective and Inefficient If you are using Excel, it’s time to move to the next stage. “How your small business manages its inventory can mean the difference between a profit and a loss. It is your answer to the question of how you track inventory that determines whether your business is earning or losing money because of your chosen inventory tracking method. The answer to the question of why is fairly simple. Why do you track inventory? If you are like every other business owner, for the very simple reasons of knowing the products you have on-hand your current stock levels and whether you are going to meet your customers’ needs.
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