By maximizing techniques developed in other fields, and applying them through business science, the average hospital pharmacy can make a significant difference in their labor investment, the safety of their patients, and also significantly reduce their long-term inventory investment.
Managing the business side of medical operations has become a major obstacle to medical professionals at almost every level. The unfortunate reality is that most pharmacy buyers have been trained as pharmacy technicians, and lack any formal business training. They do not consider the purchasing aspect of their job duties as important as the other things that they are doing, and as a result, often rely on less then scientific methods when it comes to managing the supply and demand side of hospital inventory management.
The most important aspect of any hospital inventory management system is the maximization of technological resources. While many inventory managers might take the use of technology for granted, many facilities are still lagging behind when it comes to converting to a completely electronic based management system. Many designated inventory managers still rely on a pen and paper based system for tracking supply usage and dispersal.
Many pharmaceutical manufacturers offer software that will assist in the maintenance of current supply levels. Further, a great deal of software will automatically calculate reorder points based on previous levels of daily, monthly, and yearly usage. Reorder points can also be calculated on individual economic demands, allowing a reduction of up front expenses as supplies are ordered as closely to their expected usage date as possible.
While most of the software can be fully automated to reduce the amount of monthly labor devoted toward hospital inventory management, a certain amount of human interaction is still necessary. Trained personnel are still required to anticipate change based on future trends independent of past experience.
A healthy combination of technology, human ingenuity, and basic managerial techniques are required for successful inventory management.
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In this article, we’ve researched and collected the top inventory management templates for Excel to help you streamline your inventory tracking process.
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Included on this page, you’ll find a stock inventory control template, food inventory template, asset tracking template, and more.
Stock Inventory Control Template
If you’re managing stock for a retail business or materials to be used in manufacturing, you know how critical inventory management can be for optimizing sales and productivity. This stock inventory control template can help you identify when it’s time to reorder stock, reduce excess inventory, access supplier information, and easily locate items in storage. It’s easy to view the entire lifecycle of your stock, including items on backorder.
We've also included pre-built templates from Smartsheet, a work execution platform that empowers you to better manage your inventory operations with real-time collaboration and process automation.
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Basic Inventory Control Template
Simple and easy to use, this basic inventory control template is perfect for a small business or any business that doesn’t need a lot of bells and whistles to manage inventory. View inventory by item name, description or ID number as well as unit price. Track the total quantity and value of your current inventory, reorder dates, and discontinued items. Managing inventory is straightforward with this template because of its clean design. As with all of the Microsoft Excel templates included on this page, the columns can be customized for your business, and calculations are completed for you.
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Food Inventory Template
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This free template is specifically designed for tracking food stock. Restaurants and caterers can organize their inventory based on categories of food, like meat, vegetables, or desserts, and easily view the current quantity of food stock and inventory costs.
Asset Tracking Template
Keep track of your business assets like computer hardware, equipment that needs to be maintained, and tools with this free asset tracking template. This is a simple asset tracking system intended for smaller businesses, but it allows you to view not only the quantity and value of your assets, but also warranty dates, supplier information, physical location, serial numbers and more. To modify the template, simply remove any columns that you don’t need, or add new columns to increase your level of organization and detail.
Equipment Inventory Template
If your business is using costly equipment, use this free template for tracking the value, condition and location of your equipment inventory. Keep track of operating costs, depreciation, loan balances and more. Having all of this information easily accessible will help you know when it’s time for an equipment upgrade, which items are being used the most, which are most expensive to operate, and where equipment is being stored. Boost your operational efficiency and save money by accurately tracking your equipment inventory usage and costs.
Home Inventory Template
In case of a natural disaster, fire or burglary, having a home inventory spreadsheet can make life a whole lot easier. Going through a traumatic experience and losing personal possessions is hard enough without having to remember what items were lost and how much they were worth. This home inventory template makes it easy to document your home assets, including model and serial numbers, purchase price, and current value. The spreadsheet includes a column for location, so items can be organized based on rooms in your home. There are also fields for insurance information so that you can easily access your policy number and insurance agent.
Personal Inventory Template
Like the home inventory template above, this template allows you to record personal belongings so that you’re prepared in the event of a natural disaster or other emergency. A personal inventory template is also a useful tool for simply tracking personal collections such as media, artwork, books and other collectible items. The template allows you to categorize your personal items, describe their condition, and document their value. Since this is a free excel template already created for you, it’s also a quick way to track your valuables.
Software Inventory Template
IT professionals can save time with this software inventory tracking template. Keep track of your software and hardware purchases, license expirations, and upgrades to make managing software inventory easier. This template is specifically for tracking software, which sets it apart from other asset inventory spreadsheets. You can easily locate where certain software was installed, access supplier and purchase information, and view license renewal dates.
Benefits of Using Inventory Templates
The free templates below vary depending on whether you’re managing business assets, personal possessions, food stock, or some other type of inventory. But here are some of the basic benefits individuals and businesses can gain from using templates for inventory management:
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- View current inventory levels: A template can provide easy access to the quantities of various products currently in stock, which is a vital first step in keeping operations running smoothly.
- Manage reordering: Tracking inventory will help you accurately identify when products need to be reordered as well as which items are discontinued.
- Create business statistics: View sales patterns, identify best-selling products, and track your top suppliers.
- Protect your investments: This applies to home users seeking insurance coverage for personal property as well as companies tracking computer hardware, tools and equipment, or merchandise. Knowing what you have in stock, where it’s located, and what it’s worth will help you maintain assets and know when it’s time to upgrade.
- Save time and money: Especially for small businesses, a template allows for easy data entry, quick access to product and order details, and a customizable format that can change along with the business.
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