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Obviously, there would be no chance of integrating a piece of paper with your accounting software or with a shipping solution or anything else that is digital. What will you do if something happens to it? That would be a serious disaster. What if the paper accidentally gets tossed out or it gets wet and the water smudges the ink or if it gets dirt or grime on it, rendering the data on it illegible? Any number of things can happen to prevent you from using that paper to manage your inventory.

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You can store the piece of paper in a safe, but that will make it a little more time consuming to retrieve it when it is time to update its numbers or check what is on it. There is no way to ensure its numbers are accurate, but you must rely on the honor of your employees and anyone else who visits your warehouse. If it is left out in the open, anyone can see it and make changes to it at will.

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There is no password protection for a piece of paper. If you thought the security of Excel spreadsheets was a little dicey, just wait until we talk about the security concerns surrounding a paper-based inventory management system.

Now let’s talk about some of the problems with managing your inventory in this way. With the wave of a pen you can cycle count your inventory, perform picks, and place orders. This is a fast way to record inventory figures because you do not have to be tied down to a desktop computer, but you can make changes from anywhere in the warehouse. Under this system, you do not use a digital means of saving inventory data, but you simply write it all down on a piece of paper.

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The second free inventory management system we will consider is a pen and paper. You might think you have more or less inventory than you actually do, which can cause you to make the wrong reordering decisions, leading to either stockouts or overstocks. This opens up the possibility for major and minor typos to creep into the spreadsheet and create big trouble. The spreadsheet has to be updated manually each time a change is made to the inventory quantities. Excel can’t be automated to instantly accept new inventory numbers from e-commerce solutions or other sources. If anything improper happens to the data in the spreadsheet, it can cause serious problems and be difficult to fix and prevent in the future.Īnd finally, it is easy for errors to be made when typing numbers into a spreadsheet. In fact, it is virtually impossible to tell who made the change, so it may not be practical to track down the person who did it. It is possible to set up passwords to protect workbooks and prevent unauthorized changes, but once a change is made and then the spreadsheet is saved and closed, it can’t be easily undone. Spreadsheets are not exactly well known for their security features. What happens when that individual gets sick, takes a vacation, or leaves the company? It could prove extremely difficult to find someone who can piece together exactly what was in the original creator’s head when navigating the spreadsheet.Īnother potential problem is data security.

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Since it was informally set up, there will not be any in-depth notes or other written documentation on how to use the spreadsheet or the creator’s intent when setting it up. And that person will most likely be in charge of managing the spreadsheet and keeping it constantly up to date. Someone will have to decide what information to store and how to best format it. First of all, someone usually has to create the spreadsheet from scratch. There are several key disadvantages to this system. It is possible to manually update inventory quantities when items are sold, scrapped, or used and when new orders are received into the warehouse.

A small business can use a spreadsheet to handle much of their inventory information because their inventory management requirements are fairly small compared to medium-size businesses and larger enterprises. An inventory management spreadsheet can be used to store inventory data, including details on vendors, reorder points, quantities in stock, quantities to reorder, and more. Microsoft Excel is a great tool for organizing information and storing it in a comprehensible manner. Spreadsheetįirst, we will talk about spreadsheets. That way, you can see whether or not these are a good idea to consider. Let’s go down the list of three free inventory management systems that you can use in your business, and we will discuss each one’s strengths and weaknesses. There are many hidden costs that come with attempting to implement a free inventory management system. We get what we pay for, and inventory management is no exception to this rule. It is possible to get free inventory management, but it often comes at a heavy price. If there is no cost, it must be quite economical. Free inventory management sounds like a great idea.

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