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Dynamic Inventory and Sales Management Sheet in Excel
Step 1: Inventory Sheet Setup
1. Layout Fields
| Column | Purpose |
|---|---|
| A: Product ID | Unique identifier for each product. |
| B: Product Name | Name of the product. |
| C: Category | Group products into categories (e.g., Electronics). |
| D: Starting Stock | Initial stock quantity. |
| E: Purchased Stock | Stock added through purchases. |
| F: Sold Stock | Stock reduced through sales. |
| G: Current Stock | Formula-driven (D + E - F). |
| H: Unit Price | Cost per unit of the product. |
| I: Reorder Level | Minimum stock level to trigger restocking. |
| J: Status | Alerts (e.g., “Restock Needed” when stock is low). |
2. Add Formulas
- Current Stock:
Formula:=D2 + E2 - F2- This dynamically calculates stock after purchases and sales.
- Status (Reorder Alert):
Formula:=IF(G2 < I2, "Restock Needed", "In Stock")- Adds a visual cue for stock levels.
Step 2: Transactions Log Setup
1. Layout Fields
Create a second sheet called Transactions with these fields:
| Column | Purpose |
|---|---|
| A: Date | Date of the transaction. |
| B: Type | "Purchase" or "Sale". |
| C: Product ID | Link to the product in the inventory. |
| D: Quantity | Number of units purchased or sold. |
| E: Total Cost | Formula: =D2 * VLOOKUP(C2, InventoryTable, 7, FALSE) (Quantity × Unit Price). |
2. Use Data Validation
To ensure accurate data entry:
- Select B2(Transaction Type column).
- Go to Data > Data Validation > Data Validation.
- Settings:
- Allow: List.
- Source:
Purchase, Sale.
- Result: A dropdown with "Purchase" and "Sale" options appears.
3. Add VLOOKUP for Product Details
To fetch the product's Unit Price and validate Product ID:
- In Unit Price (Column E): Formula:
=VLOOKUP(C2, InventoryTable, 7, FALSE)- Explanation:
C2: Product ID in Transactions.InventoryTable: Range in Inventory (e.g.,A2:H100).7: Column index for Unit Price.FALSE: Exact match.
- Explanation:
- If the product ID doesn’t exist, VLOOKUP returns
#N/A. Use this to identify errors.
4. Automate Updates
Using SUMIF, link transactions to inventory:
- Purchased Stock (E in Inventory):
=SUMIF(Transactions[Product ID], [@Product ID], Transactions[Quantity])- Filters only "Purchase" entries.
- Sold Stock (F in Inventory):
=SUMIF(Transactions[Product ID], [@Product ID], Transactions[Quantity])- Filters only "Sale" entries.
Step 3: Apply Conditional Formatting
To highlight low stock or restocking needs:
- Select the Status (Column J) in the Inventory sheet.
- Go to Home > Conditional Formatting > New Rule.
- Use the formula:
=$G2 < $I2 - Set a custom format (e.g., Red Fill, Bold Font).
For better visualization:
- Highlight top-selling products.
- Use formatting for “In Stock” items.
Step 4: Create an Interactive Dashboard
Add a Dashboard sheet for summaries and key metrics:
- Metrics to Include:
- Total Stock Value:
Formula:=SUM(G2:G100 * H2:H100) - Low Stock Products: Use
FILTERor create a list withIF. - Top 5 Products Sold: Use a Pivot Table.
- Total Stock Value:
Step 5: Finalize with Protection and Testing
- Protect Formulas:
- Select cells with formulas.
- Go to Review > Protect Sheet and lock only formula cells.
- Test the Workbook:
- Add sample data to Inventory and Transactions.
- Confirm formulas and links work as expected.
Excel Tools Used
1. Formulas
- SUMIF: Calculates totals based on conditions.
- IF: Creates conditional alerts.
- VLOOKUP: Fetches data dynamically.
- FILTER: Extracts rows based on criteria (modern Excel).
2. Data Validation
- Ensures consistency in entries (e.g., restricting “Type” to “Purchase” or “Sale”).
3. Conditional Formatting
- Provides visual cues for restocking needs.
4. Pivot Tables
- Summarizes and analyzes large datasets (e.g., sales trends, top products).
Would you like me to create this workbook for you and provide the Excel file? Let me know if you'd like assistance setting up specific tools like PivotTables or filters!