Inventory,StockControl,Inventory Control,Microsoft Excel inventory ,Stock Calculation,Inventory Valuation,LIFO,FIFO,WACC
What you will learn
What Is Inventory?
What Are The Types Of Inventory?
What Is Inventory Management?
What Are The Objectives For Inventory Management?
What Is The Inventory Valuation?
What Are The Types Of Inventory Valuation?
What Is The First In First Out (FIFO) Inventory Valuation Method?
What Is The Last In First Out (LIFO) Inventory Valuation Method?
What Is The Weighted Average Cost/Price Inventory Valuation Method?
How To Create The Item List Table For Inventory Management In Microsoft Excel?
How To Create The Inventory In , Out , Status Table In Microsoft Excel?
How To Apply The Formulas For The Inventory In , Out , Status Table In Microsoft Excel?
How To Enter The Inventory Transactions & Analysis The Report In Microsoft Excel?
How To Install Tally ERP9 ?
What Are The Steps Of Inventory Management In Tally ERP9?
How To Create The Company In Tally ERP9?
How To Create The Basic Accounts In Tally ERP9?
How To Create The Godown In Tally ERP9?
How To Create The Stocks In Tally ERP9?
How To Enter The Transactions & Analysis The Report In Tally ERP9?
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Course Overview
- This comprehensive course is designed to empower professionals and business owners with the essential knowledge and practical skills to master inventory management.
- Dive deep into a dual-platform approach, leveraging the analytical prowess of Microsoft Excel alongside the robust operational capabilities of TALLY ERP9.
- Learn to transition from reactive stock management to a proactive system, enabling better purchasing decisions, minimizing waste, and optimizing supply chain efficiency.
- Explore the strategic importance of efficient inventory flow in enhancing overall business profitability, cash flow, and ensuring high levels of customer satisfaction.
- Go beyond mere record-keeping to implement dynamic systems for accurately tracking stock movement, effectively valuing inventory, and continuously optimizing your entire stock holding.
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Requirements / Prerequisites
- Basic computer literacy and a working knowledge of the Windows operating system.
- Access to Microsoft Excel (version 2010 or newer) and TALLY ERP9 software for hands-on practical exercises.
- A foundational understanding of basic business operations or accounting principles will be beneficial but is not strictly mandatory.
- A willingness to engage with practical, real-world scenarios and commit to hands-on application of learned concepts.
- No prior expert-level knowledge of advanced Excel formulas or TALLY ERP9 functionalities is required; the course guides you from fundamental setups to advanced implementations.
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Skills Covered / Tools Used
- Advanced Excel for Inventory Control: Master sophisticated functions like VLOOKUP, INDEX-MATCH, SUMIFS, conditional formatting, and data validation to build dynamic and error-proof inventory tracking sheets.
- Interactive Dashboard Creation: Develop intuitive inventory dashboards in Excel to visualize key metrics such as stock levels, reorder points, slow-moving items, and valuation trends at a glance.
- TALLY ERP9 Stock Management: Seamlessly configure and manage stock groups, categories, godowns, batches, and serial numbers within TALLY, generating comprehensive inventory reports.
- Automated Stock Movement Tracking: Implement systems to automate the recording and tracking of goods inwards (purchases, returns) and goods outwards (sales, dispatches) across both Excel and TALLY.
- Variance Analysis & Reconciliation: Acquire techniques to identify, analyze, and reconcile discrepancies between physical stock counts and system records, ensuring data integrity.
- Demand Forecasting & Reorder Level Determination: Develop strategies for demand forecasting and establish optimal reorder quantities and safety stock levels to prevent stockouts or overstocking.
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Benefits / Outcomes
- Enhanced Decision-Making Capability: Equip yourself with the data-driven insights necessary to make informed purchasing, pricing, and stock rotation decisions confidently.
- Significant Cost Reduction: Actively minimize carrying costs, reduce stock obsolescence, prevent losses from spoilage/damage, and streamline operational workflows, positively impacting your bottom line.
- Improved Financial Reporting Accuracy: Ensure precise inventory valuation which directly contributes to more reliable and compliant financial statements.
- Career Advancement & Employability: Acquire highly sought-after, dual-platform skills in inventory management using industry-standard tools, significantly boosting your professional profile and marketability.
- Scalable Inventory Systems: Design and implement robust inventory solutions that are capable of growing and adapting with your business needs, from small operations to expanding enterprises.
- Proactive Problem Solving: Gain the ability to anticipate potential stock issues, such as shortages or excesses, and implement preventative measures before they impact sales or production.
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PROS
- Offers a highly practical, hands-on learning experience with real-world scenarios and case studies.
- Combines expertise in two powerful, industry-standard tools (Excel & TALLY ERP9), making you highly versatile.
- Provides directly applicable skills for immediate implementation in any business context dealing with inventory.
- Comprehensive coverage, guiding learners from foundational inventory concepts to advanced practical applications.
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CONS
- Requires consistent practice and active engagement with the software to fully internalize the complex concepts and functionalities.
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