Definition of Inventory and Its Purposes
Inventory is an important document in a company’s operations. No matter how big or small the company is, a good inventory list will indirectly increase business revenue. How come? Apparently, by recording the amount of stock purchased from suppliers, sold, and left in the warehouse, you can estimate which items should be produced / bought in greater quantities because they are selling well in the market. You can also put the brakes on the production / purchase of products that are not selling well in the market. Furthermore, you can decide to stop the production / purchase of a product that doesn’t sell at all.
Types of Inventory
There are three types of inventory based on how complete the product is. They are Raw Material Inventory, Work-in-Progress (WIP) Inventory, and Finished Good Inventory. Other than those three, there are two other types of inventory that you need to know. They are Packing Material Inventory and Maintenance, Repair, and Operating (MRO) Supplies Inventory.
Inventory Template Examples
Scroll down to check out our sample printable inventory templates that can be downloaded for free. Make sure you choose the template that best meets your requirements so you don’t need to edit for too long to be the way you want it to.
- Free Download Inventory Spreadsheet Template
- Free Download Small Business Inventory Checklist Template
- Free Download Inventory Sign Out Sheet Template
- Free Download Closing Stock Inventory Template
- Free Download Equipment Inventory Template
- Free Download Asset Inventory Template
- Free Download Home Inventory Template
- Free Download Digital Assets Inventory Worksheet Template
- Free Download Blank Inventory List Template
- Free Download Basic Inventory Report Template
- Free Download Text Book Inventory Template
- Free Download Computer Inventory and Maintenance Template
- Free Download Comprehensive Data Template
- Free Download Office Supply Inventory Template
- Free Download Office Systems Inventory Template
- Free Download Printable Stock Inventory Template
- Free Download Log Sheet Template
- Free Download Genera Journal for Inventory Reporting Template
- And many more!
Inventory Template Guidelines
Creating an inventory template from scratch is not easy, therefore, you must keep in mind the following:
- Make every detail of your inventory template general, not exclusive. Thus, your template can later be used continuously even for things that are not related to the previous inventory.
- Allow the inventory clerk to edit your template as much as possible. Don’t make the content details fixed because the inventory clerk must delete the information and repeat the inventory recording process from the beginning.
- Make a standardized shape, font type, and font size. This is to the inventory clerk’s job easier to arrange paper to print inventory records and avoid problems with printing.
- Save each of your files under a separate title. This step is to prevent you from the hassle of looking for recordings before the file that you saved.
- Keep the main template from possible unnecessary, inefficient, and inappropriate changes and modifications. The data in the inventory records must be well protected so you must apply more security about who has the right to see and change the data in it.