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With millions of products to manage, display, and sell, a retail business has to be scientific in its approach. The best way to do this is to maintain a product inventory, yet this is a pain-point for most businesses.
While creating an inventory will ensure its readiness in handling bulk orders without having to panic on good business days, planning it is only the first part of inventory management. The next objective should be to avoid wastage (lean methodology) and coordinate all activities in the supply chain.
In the entire wave of processes, maintaining a record of product inventory is also a pointer to where the business stands.
SlideTeam’s Product Inventory Templates help workers evaluate their current stocks, make requests for renewal and let the customer know if their requirements are available at a certain time. Moreover, such templates also help in tracking inventory turnover i.e. the rate of exhaustion of items from warehouses.
Thus, you can share updates about your stocks to fulfill business demand and to keep customers informed about items in storage using our product inventory templates.
SlideTeam’s top 5 collection of product inventory templates is available in the section below.
The 100% customizable nature of the templates allows you to edit your presentations. The content-ready slides give you the much-needed structure.
Let’s explore!
Template 1: Organization Product Stock Inventory Summary Report
Maintain a stock inventory report of all business products with this editable PPT Layout.
Use this product inventory template to track opening stock, items purchases, balance remaining, units consumed, and the final closing stock status. You should also label each inventory report as shown with the address of the warehouse, contact details, and the stock incharge. Download now.
Template 2: Product Inventory Analysis Report With Total Requests
This dedicated PPT Layout helps you analyze the inventory turnover and monitor product requests over months. Cite the numbers for total products in inventory along with their standing value. Report the total hours spent in managing inventories and the estimated cost of shipping incurred. Use Excel-linked graphs, in addition, as shown, to present monthly and product-wise evaluation better. Grab it now.
Template 3: FMCG Products Inventory Performance Dashboard
If your business deals with Fast Moving Consumer Goods (FMCG), use this product inventory template to track how it is faring. Track metrics like inventory turnover, on-time delivery, out of stock rate, and average time to sell to manage your warehouse contents better. Excel-linked and editable graphs and charts help you present data and visualize effectively. Deploy this PPT Template now!
Template 4: One-Page Product Inventory Control Sheet Template
Maintain a product inventory control sheet corresponding to your business with this PPT Template. Report products with their inventory ID as you present storage and purchase information. Add supplier information against each product and also mention its shelf-life so as to ensure quality of sale products. Download now.
Template 5: Manufactured Product Inventory Management Process Flow Chart
Product inventory management relies on a well-defined process flowchart. Highlight the order of workflow and the detailed responsibilities of departments such as sales, production, quality control, purchase, warehousing, and finance in the correct order. Lay down the steps in a flowchart manner that makes it easy to follow and effectively manage inventories. Get it now!
Keep Up With Customer Demands
Stay informed about the inventory turnover and plan accordingly to meet customer demands using our product inventory templates.
PS: Are you a distributor aiming to streamline selection, onboarding and continued partnerships with vendors? Then, you must lay down a definite vendor approval process and our templates collated in this blog will be of immense help.
FAQs on Product Inventory
What is product inventory?
A product inventory refers to the complete list or record of all items, goods, or products that a business or organization holds in stock or has available for sale at a given point in time. It includes information about each item, such as its name, description, quantity, unit price, location within a warehouse or store, and other relevant attributes.
Maintaining an accurate and up-to-date product inventory is crucial for businesses to manage operations, track stock levels, fulfill customer orders, and make informed decisions about purchasing, restocking, and sales strategies. Inventory management software and systems are used to help streamline the process of tracking and managing products within a business, minimizing the risk of stockouts (insufficient inventory) or overstocking (excess inventory). Proper inventory management can lead to improved efficiency, cost savings, and better customer service.
What is the purpose of product inventory?
Stock Management: Keep track of product quantities to avoid shortages or excess.
Order Fulfillment: Ensure prompt and accurate delivery of customer orders.
Demand Forecasting: Anticipate trends and adjust production and marketing strategies.
Optimize Purchasing: Make informed decisions about when to reorder products.
Financial Reporting: Accurately represent company assets and liabilities on financial statements.
Cost Control: Reduce storage costs, manage slow-moving items, and prevent losses.
Production Planning: Smooth manufacturing processes by tracking raw materials and components.
Prevent Losses: Minimize theft, damage, and spoilage of products.
Customer Service: Have the right products available for a positive customer experience.
Strategic Decision-Making: Guide decisions on new products, discontinuations, and market expansions.
What are four types of inventory?
- Raw Materials Inventory:
- Basic materials and components for production.
- Not yet processed or transformed.
- Essential for manufacturing processes.
2. Work-in-Progress (WIP) Inventory: - Products in the process of being manufactured.
- Partially completed goods.
- Found in multi-stage production set-ups.
3. Finished Goods Inventory: - Fully completed and ready-to-sell products.
- Available for immediate purchase.
- Represents products in stock and ready for delivery.
4. MRO (Maintenance, Repair, and Operations) Inventory: - Items for day-to-day operations.
- Not directly used in production.
- Includes office supplies, tools, equipment, etc.
- Managing these inventory types helps businesses maintain smooth operations, meet customer needs, and adapt to supply and demand fluctuations.
What are the three purposes of inventory?
- Meet Customer Demand: Inventory ensures that businesses have an adequate supply of products on hand to meet customer demand promptly. This prevents stockouts and delays in fulfilling customer orders, enhancing customer satisfaction and loyalty.
- Smooth Production and Operations: Inventory helps maintain a continuous production flow by providing necessary raw material and components for manufacturing processes. It ensures that production can continue even when there are fluctuations in supply or unexpected disruptions.
- Buffer against Uncertainties: Inventory serves as a buffer against uncertainties in supply and demand. It allows businesses to handle unexpected changes in customer orders, supply chain disruptions, and variations in production output. This flexibility helps maintain stability in operations and reduces the risk of disruptions.
