Disadvantages of Excel For Small Business Inventory Management

Excel is the most widely used spreadsheet software and offers a range of functionalities that is suitable for businesses in most cases. However, for small business inventory management , it has many disadvantages as well. Inventory management gives businesses the edge they require, especially if they are a wholesaler or retailer of products. Previously, deploying software for inventory management was only possible for well established businesses. However, technology has now developed to the point where inventory management solutions are more reachable. What is Inventory Management? Inventory management is the process of maintaining and tracking stock. The objective is to hold as little stock as possible without suffering from a stock-out. This is because excess inventory would mean money is being tied-up in the inventory which could be used elsewhere. However, this is a general rule and may not be applicable on all items. You must understand the nature of your products and d...