Microsoft Excel is a wonderful tool that many of us in the business world use on a daily basis. It helps us build charts and organize data into rows and columns for easy retrieval later. However, Excel isn’t the ideal solution for every business need. It’s a step up from managing your inventory on paper, of course, but it’s a far cry from an automated system.
Excel’s inventory management deficiencies are:
- It’s difficult to set up and you have to know inventory management very well to know what to include.
- It’s difficult to maintain because you have to enter all the information by hand.
- Data entry by hand can lead to typos and other serious errors.
- There are no instruction manuals, so if the person who set up your inventory management spreadsheets ever leaves, you’ll be in trouble trying to replace them.
- Inventory management gets more complicated as a company grows, and Excel simply can’t keep up.
I’ll let Kirk Tanner explain even more in this video about why you should consider moving beyond Excel inventory management for your business.