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Beginners Guide to Creating an Inventory Form [Free Sample Sheet Template]

 

Understanding your stock is an imperative inventory management skill. Whether you are dealing with a multinational business venture with dozens of warehouses or a startup company with a basic storage house, having a clear visibility into your commodity workflows is essential. However, keeping tabs of all your stock across your numerous storage areas can be incredibly challenging.

Trivial mishaps in your inventory workflow can trigger a downward spiral for your venture, thus, an outstanding stock tracking system is paramount. If you are looking for a powerful tool to help you comprehend your assets by initiating perfect stock recording capabilities and eradicating dozens of common warehouse problems, you may want to consider an inventory management form.

Although seemingly basic, an inventory management form is a surprisingly complex business tool. To give you a comprehensive sneak peek at the dynamics of this incredible stock management tool and help you design it, here is an informative guide to creating an inventory form.

 

 

Part 1
What Is an Inventory Form?

An inventory form is a powerful business document that provides a place to systematically record all the commodities in your warehouse. Considered an integral element of the supply chain, this incredible template captures stock inflow and outflow.

Additionally, an inventory form includes the exact storage locations for your entire stock. While knowing where to find each item is important, especially when operating multiple warehouses, an impressively catalogued stock record will significantly improve your procurement department by enhancing storage decisions. An inventory form offers a comprehensive stock list, including a brief description of each commodity in terms of perishability, fragility or sensitivity, thus enhancing proper storage.

This document will help you understand of the worth of your merchandise as well.

ProsperForms – inventory information management software. Get Started Now

Part 2
Step-by-Step Guide to Creating an Inventory Form Using an Excel Spreadsheet

Using MS Excel, you can effortlessly develop a superb inventory template that will serve you as well as the ones offered by service providers.

  1. First, launch an Excel application — when the program opens, locate the “new file” option on the menu bar and click on it.
  2. A list of various templates will open in a new window. Click on the “inventory template” option.
  3. After selecting the above option, multiple inventory options will appear. Scroll through the suggestions and choose the one that best fits your unique business scenario.
  4. After choosing your template, download it and save it under your business’s name. While you can assign any name to your form, naming it with your organization’s venture details simplifies retrieval.

You can fill in the form as commodities trickle in and out.

Besides saving on expenditures, here are some reasons why Excel is a good choice to design inventory forms.

ProsperForms — receive reports from your team members on autopilot. 100+ forms available: reports, logbooks, requests, etc. or build your own. View and manage data on Timeline and Dashboard screens, generate consolidated PDF reports. Get Started

  • Excel offers great organization capabilities, with purchases and records meticulously captured under explicit rows. This breeds an incredible eye-catching form which helps streamline the recording process.
  • Excel provides tolerance for few inventory entries, making it a perfect choice for small-scale business ventures.
  • Excel is designed with multiple sophisticated inventory formulas, which are useful when conducting the analysis.

Part 3
Essential Components to Include in an Inventory Form

An inventory form is a comprehensive business document that provides an excellent avenue for systematically recording your organization’s stock. Comprised of multiple sections, this incredible tool is a must-have for both small- and large-scale ventures.

While an outstanding outline is one of the most critical stages of creating this incredible template, subsequent stages are usually easier. To develop a comprehensive and reliable inventory form, you must have a clear understanding of the information to include. With an exquisite outline and a comprehensive knowledge of the key components of an inventory form, the rest is simple.

A typical inventory template highlights many aspects, including:

  • Name of the product
  • Internally assigned code of the product
  • Name of the warehouse in which the commodity is stored and its location within the storage house
  • Brief description of the product highlighting its category, family, and class
  • Storage regulations for each product
  • Wholesale cost of products
  • Your goods’ vending prices
  • The quantity of available products under a similar category
  • Manufacturer’s details and contact information
  • Delivery details of each product
  • Photo of the product (optional)

 

ProsperForms – inventory information management software. Get Started Now

Part 4
Basic Principles When Creating an Inventory Form

You now have an accurate understanding of how to create an inventory form. However, if you want to design an impressive and reliable template, there are several codes of conduct you must observe.

Basic principles of an inventory form include:

  1. Excellent Planning

    Besides featuring an incredibly comprehensive database, a superb inventory form should be designed so that all relevant aspects of stock management seamlessly connect. A typical inventory template should provide updates on the level of your warehouse stock and guidance on how to locate a specific product among the thousands available. Additionally, the document should integrate metrics relevant for other inventory management facets, like marketing.
    Thus, when developing your form, make it as dynamic as possible to capture key aspects of inventory management.

  2. Ensure Accurate Recording of Inventory

    An inventory form is an entry tool that assumes and works along with your inputs. To avoid errors while recording, it is important to countercheck each entry before formulating the final template.
    Since accurately capturing inflowing and outflowing stock can be incredibly overwhelming, especially when dealing with multiple warehouses, consider attaching purchase or sales receipts.

Other Best Practices Include:

  • Excellent categorization of your stock to avoid confusion
  • Drafting product descriptions using simple, clear and concise phrases
  • Formulating a standard recording procedure to ensure consistency across all warehouses

ProsperForms – inventory information management software. Get Started Now

ProsperForms — receive reports from your team members on autopilot. 100+ forms available: reports, logbooks, requests, etc. or build your own. View and manage data on Timeline and Dashboard screens, generate consolidated PDF reports. Get Started

Part 5
Sample Inventory Sheet

Now you have all the insights you need to create and integrate an inventory form in your organization. However, if you are unsure where each element should go, see below for a sample inventory sheet.

sample inventory sheet
inventory information management

Edit and use this template

 

asset management

Edit and use this template

 

it asset management

Edit and use this template

 

equipment control

Edit and use this template

 

ProsperForms — receive reports from your team members on autopilot. 100+ forms available: reports, logbooks, requests, etc. or build your own. View and manage data on Timeline and Dashboard screens, generate consolidated PDF reports. Get Started

equipment log

Edit and use this template

 

equipment rental log equipment checkout

Edit and use this template

 

product movement log

Edit and use this template

 

general log

Edit and use this template

ProsperForms – inventory information management software. Get Started Now

Part 4

ProsperForms is a cloud solution to dramatically reduce the time you spend creating reports

  1. Make reporting easier with auto-fill: Fields such as date, name, report type, and formatting are inserted automatically by software.
  2. Consolidate reports automatically: Reports created by your team members can be consolidated easily.
  3. Save time with auto-layout: No need to spend hours in Word or Excel perfecting the report’s layout because it exports your updates into a beautifully crafted file with a couple of clicks.
  4. Peace of mind with auto-reminders: No one forgets to submit their reports because ProsperForms automatically sends timely reminders according to the schedule you chose.
  5. Decrease time and effort spent on monthly, quarterly, and yearly reporting thanks to powerful filtering and export features.
  6. Quick sharing: Reports can be either - exported to files and printed, or sent by email; - shared with the manager online (in real time); - optionally shared online as team-wide status reports, i.e., all team members share their progress with each other to spend less time on meetings.

How to configure reports on ProsperForms:

Step 1:
  • Choose a form (100+ forms available) — customize our preset forms or easily create a new form in minutes.
  • Setup reminders if you want your team members to receive automatic reminders when their reports are due.
  • Configure who will submit reports by choosing the “Participants” tab.
Step 2: Click the "Open Submission Form" button to fill in and submit the report. Data such as the report type, date and name will be added automatically. As soon as a new report is added, participants with “View” rights can view it in real time.

Step 3 (Optional): Generate a report and export it to PDF. (Skip this step if you share status reports online and don’t print them.)

Click “Generate Report”.

Done!  

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