Inventory Tracking in Google Sheets Simplify with Visuals

What is inventory tracking in Google Sheets?

For businesses, it’s a game-changer in managing stock efficiently. Inventory tracking ensures you know what you have, where it is, and how much you need. Google Sheets makes this process accessible and easy to customize.

Around 43% of small businesses in the U.S. fail due to poor inventory management. Keeping track of stock is crucial for avoiding overstocking or running out of items. Google Sheets offers a flexible, cost-effective solution. Its built-in formulas and real-time collaboration features are powerful tools for staying organized.

Inventory tracking in Google Sheets helps streamline operations. You can track product quantities, reorder points, and sales trends in one place, reducing errors and improving decision-making. Many small and large businesses rely on Google Sheets for this purpose. Its simplicity and versatility make it a favorite choice across industries.

Moreover, Google Sheets allows you to create templates for inventory tracking. These templates save time and ensure consistency. By leveraging its features, you can enhance efficiency and accuracy in managing stock.

This guide will explore how to set up inventory tracking in Google Sheets. From basic templates to advanced functions, you’ll learn how to make the most of this essential tool.

Table of Contents:

1. What is Inventory Tracking in Google Sheets?
2. Why Use Google Sheets to Track Inventory?
3. What Makes a Good Google Sheet Inventory Tracking Template?
4. How to Manage Inventory with Google Sheets Manually?
5. What Data Should an Inventory Template Contain?
6. How to Analyze Inventory Tracking Data in Google Sheets?
7. Wrap Up

First…

What is Inventory Tracking in Google Sheets?

Definition: Inventory tracking in Google Sheets is a method for monitoring and managing stock levels using a spreadsheet. It helps businesses keep track of product quantities, locations, and reorder points.

Google Sheets offers flexibility with customizable templates and real-time collaboration. You can easily organize data, use formulas for calculations, and analyze stock trends. This tool is ideal for small businesses and teams needing an affordable solution. With inventory tracking in Google Sheets, managing stock becomes efficient and error-free.

Why Use Google Sheets to Track Inventory?

Tracking inventory is crucial for any business. Google Sheets offers a simple yet powerful way to manage stock. It’s flexible, easy to use, and fits enterprises of all sizes. Here’s why it’s an excellent choice for inventory tracking:

• Cost-effective and accessible: Google Sheets is free and works on any device with an internet connection. It’s a budget-friendly solution for managing inventory, so you don’t need expensive software to stay organized.
• Real-time collaboration: Multiple users can work on the same file simultaneously. Updates are instant, ensuring your team always has the latest stock information. This feature improves communication and reduces errors.
• Customization and automation: Google Sheets allows you to tailor your inventory tracker to your needs. Use formulas, conditional formatting, and scripts to automate calculations and alerts. It adapts to your workflow.
• Seamless integration: Google Sheets integrates with various tools and platforms. Link it with apps for sales, shipping, or customer management. It keeps all your data connected and easy to access.
• Scalable and user-friendly: Whether you manage a small or large inventory, Google Sheets can handle it. Its intuitive interface makes it easy for anyone to use without extensive training.

What Makes a Good Google Sheet Inventory Tracking Template?

A well-designed Google Sheet inventory template can be a game-changer for your business. It’s not just about tracking items—it’s about making the process smooth, efficient, and scalable. Here’s what to look for:

• Clear and flexible organization: A good template should be easy to navigate and have a logical layout. It should also allow customization. Why? So, you can tailor fields like item categories, supplier information, or stock levels to fit your business needs.
• Built-in automation for smart tracking: Automated calculations save time and reduce errors. Whether tracking total stock value, calculating reorder quantities, or summarizing sold items, automation eliminates manual effort and ensures accuracy.
• Attention-grabbing conditional formatting: Conditional formatting helps you identify issues at a glance. Use color coding for low-stock alerts, expired items, or approaching reorder dates. It makes your data visually intuitive and actionable.
• Error-free data entry with validation tools: Dropdown menus and data validation rules keep your entries clean and consistent. Instead of manually typing every entry, use pre-defined lists for item types, supplier names, or order statuses.
• Real-time collaboration and scalability: Everyone stays on the same page, whether restocking or shipping. Plus, ensure the template is scalable to handle more products as your business grows.

How to Manage Inventory with Google Sheets Manually?

Managing inventory with Google Sheets manually is a straightforward and cost-effective approach to supply chain management. It provides control and flexibility tailored to your specific needs. Whether you’re a small business or an individual managing supplies, this method helps you stay organized. Here’s how to do it:

1. Set up Your inventory spreadsheet: Create a new Google Sheets file. Add headers like Item ID, Quantity in Stock, Unit Price, and Last Restocked. Make these headers bold and use color to make them stand out.

2. Enter your inventory data: Add your inventory details row by row under the headers. Use drop-down menus with data validation to standardize entries like Category or Location.

3. Automate calculations: Simplify tasks with formulas. For Total Value, multiply Quantity by Unit Price using =D2×E2. Drag the formula down the column for all items. Highlight low stock using Conditional Formatting to flag quantities below reorder levels.
4. Track inventory movements: Add columns for Stock Added and Stock Sold. Update quantities automatically using a formula like =D2+F2-G2.
5. Monitor and update regularly: Keep the sheet current by logging every stock addition or sale. Review reorder levels regularly to avoid running out.

6. Share and collaborate: Quickly share the sheet with your team. Based on their roles, set permissions for viewing or editing. It keeps everyone informed and reduces errors.

What Data Should an Inventory Template Contain?

Your inventory template is more than just a list. It’s your go-to tool for staying organized and in control. Here’s the data you need to make it work like a charm:

1. Item information: Keep it simple. Include product names, descriptions, and SKU codes for easy identification.
2. Stock details: Track quantities on hand, reorder levels, and items sold to ensure you never run out or overstock.
3. Cost and value: Record unit costs, total stock value, and selling prices. Knowing your numbers keeps your finances in check.
4. Supplier details: Add supplier names, contact info, and terms. This will help you quickly contact them when it’s time to restock.
5. Tracking dates: Log purchase dates, restock dates, and expiration dates (if applicable). Timing is everything in inventory management.
6. Location: Know where everything is. Track storage areas, warehouse sections, or shelf locations for easy access.
7. Optional fields for extra insight: Want more? Add custom fields like order status, shipping details, or product categories. Make it fit your business perfectly.

How to Analyze Inventory Tracking Data in Google Sheets?

Tracking inventory in Google Sheets is a game-changer for businesses. It offers a simple way to manage stock and streamline operations.

But here’s the twist: data alone isn’t enough—it must tell a story. Data visualization brings numbers to life, making data analysis more transparent and decisions more innovative.

While Excel does an okay job, it often stumbles in delivering stunning, insightful visuals. That’s where ChartExpo steps in. It transforms complex data into eye-catching, easy-to-read charts, filling the gap Excel leaves behind.

The charts and graphs below are created in Google Sheets using ChartExpo:

Sankey Chart

Comparison Bar Chart

Multi Axis Line Chart

Progress Circle Chart

Waterfall Chart

Let’s learn how to install ChartExpo in Google Sheets.

1. To start using ChartExpo, download it directly from the Google Sheets program. To do this, select Extensions from the top toolbar.
2. A menu will appear. Click the Get add-ons option.
3. Search for ChartExpo, and click on Charts, Graphs & Visualizations by ChartExpo when it appears in the results.
4. Click the Install button. You will have to confirm your Google account and accept some permissions.

ChartExpo charts are available both in Google Sheets and Microsoft Excel. Please use the following CTAs to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Example

Let’s create a chart from the sample data below and analyze it using ChartExpo, focusing on analyzing and interpreting data to uncover valuable insights.

Source	Intermediate	Target	Value
Stock Received	Quality Check	Approved for Sale	500
Stock Received	Quality Check	Rejected	200
Stock Received	Quality Check	Sent for Repair	100
Stock Received	Pre-sorting	Quality Check	100
Pre-sorting	Quality Check	Approved for Sale	80
Pre-sorting	Quality Check	Rejected	20
Quality Check	Approved for Sale	Sold	400
Quality Check	Approved for Sale	Returned	50
Quality Check	Approved for Sale	Damaged During Storage	50
Quality Check	Rejected	Sent for Recycling	150
Quality Check	Rejected	Disposal	50
Quality Check	Sent for Repair	Repaired and Approved	70
Quality Check	Sent for Repair	Disposal	30
Approved for Sale	Sold	Customer Returns	30
Returned	Rechecked for Sale	Approved for Sale	25
Returned	Rechecked for Sale	Disposal	25
Sent for Recycling	Repurposed Stock	Sold	100
Sent for Recycling	Repurposed Stock	Waste Disposal	50
Customer Returns	Rechecked for Sale	Approved for Sale	20
Customer Returns	Rechecked for Sale	Disposal	10

• To get started with ChartExpo, install ChartExpo in Google Sheets.
• Go to Extensions > Charts, Graphs & Visualizations by ChartExpo > Open.

• To access the charts library, click the Add new chart button.

• Once ChartExpo is loaded. Click on “Sankey Chart”.

• After selecting the sheet that contains your data, choose the Metrics option. Add the corresponding numbers.
• To add dimensional data, click the Dimensions button and enter the desired values:
• Click the Create chart button to complete the process.

• Click the Edit chart button to make custom changes.

• To change the chart’s title, click the pencil icon next to the Chart Header.
• It will open the properties dialog. Under the Text section, you can add a heading in Line 1 and enable the Show option. Give the appropriate title of your chart and click the Apply button.

• You can disable the percentage by clicking on the small pencil icon:

• You can add the colors of all Nodes as follows:

• Change all the legend shapes into circles and click the “Save” button:

• Your final chart will appear as below.

Insights

• Quality Checks: 500 units approved for sale.
• Rejections & Repairs: 200 units were rejected, and 100 need repair.
• Recycling: 150 rejected units recovered, 100 added back to sales.
• Repairs Approved: 70 repaired items approved for sale.
• Losses: 80 units returned or damaged.

Enhance Data Insights Using Inventory Tracking in Google Sheets Charts:

1. Open your Google Sheets Application.
2. Install ChartExpo Add-in for Google Sheets from Google Workspace Marketplace.
3. Select the Sankey Chart from the list of charts.
4. Fill in the necessary fields.
5. Click on the “Create Chart” button.
6. Customize your chart properties to add header, axis, legends, and other required information.
7. Export your chart and share it with your audience.

The following video will help you to create a Sankey Chart in Google Sheets.

FAQs

Can I use Google Sheets to track inventory?

Yes, Google Sheets is great for tracking inventory. It’s easy to use and accessible anywhere. Create spreadsheets to record stock levels, monitor updates, and manage orders. Add formulas and filters for better organization. Customize it to fit your needs.

How do I get real-time stock data in Google Sheets?

Use Google Sheets to get real-time stock data through APIs or Add-ons. Connect your inventory system with Sheets using tools like Apps Script. You can also link live data from Google Finance for accurate, automated updates.

Wrap Up

Inventory tracking in Google Sheets is a simple yet powerful way to manage stock. It keeps data organized and accessible, and with customizable features, it adapts to your specific needs.

This method is cost-effective, eliminating the need for expensive software. Businesses of all sizes can benefit from it. Real-time collaboration is a standout feature. Team members can update data simultaneously. It ensures everyone stays informed.

Automation adds efficiency. Features like formulas and conditional formatting save time. They reduce the risk of manual errors. Moreover, integration with other tools makes it versatile. Google Sheets works well with apps like Google Forms and Analytics.

Regular updates are crucial. Keeping the sheet current prevents stockouts and overstocking. It promotes smoother operations.

Google Sheets is more than a basic spreadsheet. It empowers us to manage inventory effectively. Its flexibility and ease of use suit various industries. Whether running a small business or managing a large enterprise, this tool, paired with ChartExpo, will help maintain control and clarity.