Inventory Re-Order Level – Available in Excel and Google Sheets

This is a useful tool for anyone managing inventory purchasing. You can run the model, daily, weekly, or, monthly based on the needs of your situation.

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Video Tutorial:

This inventory template was built in excel and google sheets. The google sheet version is available as a link in the ‘instructions’ of the paid version.

The smart logic here will tell you at what point you need to re-order a given sku of inventory and how many days it will take to get to that point. You can use it for as many SKUs as you have (within the limits of the software).

There has been conditional formatting implemented to let you know when a given sku is getting close to needing to be re-ordered based on being ‘x’ days from the projected re-order level.

The entire system is built off of knowing your average sales per day, the current inventory at the end of the given day you are running the analysis, the lead time, and the minimum reserve of that inventory item.

I added a more advanced function into this in order to tell how much inventory to re-order. This is driven by a user input that represents a multiple of the inventory point you will be re-ordering at. i.e. if the logic ends up being that you need to re-order when a given sku hits 10 units available, and you put a multiple of 4 for the re-order multiple cells, then it will say you should order 40 units. Additionally, it will tell you how many days that will last based on your average sales per day of the given sku.

The main reason I added a google sheet version was to do advanced filtering. It will let you put in a number of the day left and any sku that needs to be re-ordered at that number of days or less will populate in alphabetical order.

 

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