Back when I was running my jewelry and wedding wine charms business, inventory was always one of those things that just sneakily crept up and started causing issues, especially after going through busy holiday and wedding seasons.
In this video, I go over some of the challenges I faced when tracking inventory for my business:
After I realized I was running into frequent inventory issues and wasting time and money, by not getting my inventory organized, I decided there has to be a better way.
I started tracking it all in Excel, and thanks to my previous corporate jobs in HR/compensation, I knew exactly how to set up the formulas, for a system that was completely streamlined and easy to use.
With an organized system for tracking inventory, tax time was a breeze! I was able to quickly find out my COGS (cost of goods sold) and inventory to report on the schedule C.
Plus, no more deactivating listings because I ran out of materials. I had a system down to get me through the busy holiday and wedding seasons, and was able to keep everything in stock, maximizing sales.
Implementing a streamlined system for tracking inventory is as easy as using a template.
It's as easy as just entering your product data 1x and everything will link together in order to save you time when tracking your inventory, pricing and COGS! If you are already entering your data for pricing, why not have it there for inventory tracking too?
This video goes over an example of how to use the Handmade Seller’s Inventory file to track your Pricing – COGS and Raw Materials inventory – all in 1 file:
See what other's are saying about using this system:
Do I need a spreadsheet program to use the template?
Most of the templates are designed in MS Excel and are compatible with all versions of Excel. If you have ‘Excel for Macs’ on your mac computer that will be compatible.
If you don’t have Excel, I recommend Open office, which is a free program you can download. I have Open Office versions of most templates, available upon request.
Most of the templates also work well with Google Sheets. When purchasing, you agree to the licensing terms which allow the template to be used by the buyer only, and not shared to others for commercial reasons.
Will I be able to make changes or customizations to the template?
Most of the templates come with the cells with formulas protected, to prevent someone from accidentally deleting or writing over a formula, which could cause the template to not work as described.
If you want to be able to make changes to the formulas, you can upgrade to the unprotected version here. Most of the templates come personalized with your name or company name and that remains protected, even in the unprotected versions.
I can also make changes or customizations for you. See more information about custom orders here.
What if I want to track inventory for finished products, not the raw materials? Will this template work for my type of product?
Whether you are selling jewelry, soaps, purses, outfits or accessories… I want you to have a streamlined process for tracking your inventory, so that you can have ultimate efficiency, freeing up your time to scale your handmade business efforts.