Tracking Inventory in Excel: Tips, Tools, and Templates

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In this comprehensive webinar, you’ll learn how to track inventory efficiently using Microsoft Excel 365 for Windows. You'll be guided through creating a basic inventory tracker and introduced to advanced tools and techniques that enhance functionality and save time. From defining key inventory terms to constructing self-expanding lists with Excel’s Table feature, this session equips you with practical skills for real-world application. You’ll learn how to add total rows, apply multiple column sorts, and use conditional formatting to highlight low stock levels. The webinar also covers how to use the IF and MAX functions to automate reorder alerts and calculate reorder quantities.

Going beyond the basics, the session explores data validation for drop-down lists, generating insightful PivotTables, and even creating barcodes within Excel. You’ll receive detailed handouts, including an Excel workbook packed with examples demonstrated during the webinar. Every technique is presented step-by-step to ensure clarity and ease of implementation. You'll also learn how features differ across Excel 365, 2021, 2019, and 2016 versions. Whether you’re new to inventory tracking or looking to refine your existing workflow, this webinar will help you streamline your Excel processes and boost accuracy.

Topics Typically Covered:
  • Defining key inventory terms such as SKUs, reorder points, and lead times
  • Using the Table feature to reduce spreadsheet maintenance
  • Adding totals and filters that adjust with visible rows
  • Applying up to 64 sort levels in a list
  • Creating PivotTables and preparing data with Power Pivot
  • Implementing conditional formatting and data validation
  • Choosing and customizing free Excel inventory templates
  • Removing outdated conditional formatting rules
  • Creating barcodes within Excel
Your Benefits For Attending:
  • Learn to use Excel’s Table feature to create dynamic, self-expanding lists for inventory tracking.
  • Discover how to apply conditional formatting and Excel functions to monitor stock levels and automate reorder processes.
  • Understand the use of PivotTables to summarize and analyze your inventory data for smarter business decisions.
  • Explore downloadable, customizable templates to fast-track your inventory management setup.
  • Gain insight into differences between Excel versions and how they may impact functionality.
  • Get expert instruction tailored for professionals aiming to improve efficiency and accuracy in Excel.

This webinar will provide actionable Excel skills you can use immediately to improve your inventory tracking process—saving time and reducing errors in your daily operations.

Who Should Attend:

Professionals seeking to use Microsoft Excel more effectively, especially those managing or analyzing inventory.

Level: Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Computer Software & Applications (2 hours)
Program Prerequisites: Prior experience with Microsoft Excel is recommended.
Advance Preparation: None
  1. Introduction
  2. Topics At A Glance 00:01:28
  3. Presenting with Microsoft 365 for Windows 00:06:03
  4. Section 1:  Inventory Tracking Basics 00:08:00
  5. Defining Key Inventory Terms 00:08:11
  6. Creating a Basic Inventory Tracker 00:10:30
  7. Section 2: Managing Inventory Lists with Excel Tables 00:14:36
  8. Transforming Static Lists into Dynamic Tables 00:18:13
  9. Adding a Total Row to an Excel Table 00:22:01
  10. Filtering Excel Tables with Slicers 00:24:22
  11. Section 3: Highlighting and Controlling Inventory Data 00:31:22
  12. Identifying Low Stock Items with Conditional Formatting 00:32:18
  13. Expanding Conditional Formatting 00:37:54
  14. Filtering by Color 00:40:38
  15. Removing Conditional Formatting 00:43:30
  16. Section 4: Controlling Data Entry and Access 00:46:54
  17. Creating Data Validation Drop-down Lists 00:48:46
  18. Using Table Feature for Self-Expanding Lists 00:57:39
  19. Allowing Users to Edit Ranges 01:04:36
  20. Section 5: Flagging Reorders with Formulas 01:10:01
  21. Flagging Reorders with IF Function 01:10:59
  22. Using IFS to Add More Detail 01:14:25
  23. Section 6: Summarizing with PivotTables 01:20:36
  24. Creating a PivotTable from an Excel Table 01:21:41
  25. Building a Basic PivotTable 01:23:32
  26. Adding Columns to PivotTables 01:26:56
  27. Filtering PivotTable Rows and Columns 01:29:07
  28. Keeping PivotTables Up to Date 01:38:34
  29. Decision Map 01:40:06
  30. Continuing Your Excel Journey 01:40:28
  31. Presentation Closing 01:40:55
  • David H. Ringstrom, CPA

    David H. Ringstrom, CPA

    David H. Ringstrom, CPA, is a nationally recognized instructor who leads dozens of Excel webinars each year. He is the author of Microsoft 365 Excel for Dummies and several other books. With over 30 years of consulting and teaching experience he empowers users to work more efficiently in E [...]

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  • Column 00:12:02, 00:21:40, 00:25:56, 00: 33:40, 00:38:03, 00:56:58, 01:02:31, 01:12:44, 01:25:47, 01:31:32, 01:40:22
  • Conditional Formatting 00:02:03, 00:31:17, 00:38:49, 00:45:30, 01:11:14, 01:19:19
  • Cost Per Unit 00:09:37, 00:23:37, 01:24:41
  • Data Validation 00:02:06, 00:47:20, 00:51:24, 01:00:44, 01:36:21
  • Dialog Box 00:24:48, 00:39:19, 01:05:51, 01:29:51
  • Drop-Down List 00:22:41, 00:43:19, 00:53:25
  • Dynamic Array Function 00:59:21
  • Dynamic Table 00:14:51, 01:03:49, 01:37:54
  • Filter 00:15:44, 00:21:47, 00:31:03, 00:43:16, 01:04:10, 01:20:05, 01:29:36, 01:33:31
  • Formula 00:14:56, 00:19:47, 00:32:54, 00:45:47, 01:02:56, 01:12:10, 01:20:53, 01:38:43
  • IF Function 00:02:19, 01:09:57,  01:11:09, 01:14:42
  • IFS Function 01:10:49, 01:14:47
  • Inventory 00:01:10, 00:10:24, 00:20:12, 01:24:30, 01:36:02
  • Lead Time 00:09:13, 00:10:01
  • Microsoft 365 00:00:22, 00:06:16
  • Pivot Table 00:02:26, 00:19:18, 01:29:14, 01:38:20
  • Reorder Point (ROP) 00:09:01, 00:12:24, 00:34:24, 00:38:39, 00:53:48, 01:10:49
  • Row 00:15:05, 00:18:54, 00:25:35, 00:40:28, 00:51:39, 01:01:02, 01:21:30, 01:31:23
  • SKU (Stock Keeping Unit) 00:08:29, 00:12:10, 00:
  • Slicers 00:15:46, 00:24:45, 00:42:51
  • SORT 00:51:35, 00:59:22, 01:01:41
  • Static Lists 00:14:48
  • Table 00:13:44, 00:19:48, 01:01:19
  • Table Feature 00:01:37, 00:15:04, 01:00:42, 01:13:34, 01:20:49
  • Total Row 00:15:40, 00:23:57, 01:26:39, 01:34:40

Column: A column is a vertical series of cells in a chart, table, or spreadsheet in Excel.

Conditional Formatting: A feature on Excel's Home menu that allows you to dynamically apply formatting such as colors, bolding, icons, data bars, and so on based on criteria that you specify for a given set of worksheet cells.

Cost Per Unit: Cost per unit is the total expense a business spends to make and deliver one single product. It is calculated using total fixed costs, total variable costs, and the number of units produced. The Formula: Cost per Unit = (Total Fixed Costs + Total Variable Costs) ÷ Total Units Produced

Data Validation : An Excel feature that allows users to assign data entry rules to one or more cells within an Excel worksheet.

Dialog Box: A dialog box in Excel is a screen where you input information and make choices about different aspects of the current worksheet or its content, such as data, charts, and graphic images.

Drop Down List: A drop-down list is an excellent way to give the user an option to select from a pre-defined list. It can be used while getting a user to fill a form, or while creating interactive Excel dashboards. Drop-down lists are quite common on websites/apps and are very intuitive for the user.

Dynamic Array Function: Dynamic Arrays will make certain formulas much easier to write. You can now filter matching data, sort, and extract unique values easily with formulas. Dynamic Array formulas can be chained (nested) to do things like filter and sort. Formulas that return more than one value will automatically spill.

Dynamic Table: Dynamic tables in Excel automatically update their range, formulas, and connected PivotTables when new data is added, eliminating the need to manually redefine data ranges. The fastest way to create one is by selecting your data range and pressing Ctrl+T (or Insert > Table). This converts a static range into a structured table that expands automatically.

Filter: The Filter feature in Excel allows you to show or hide rows within a list of data by making selections from drop-down lists. The Filter feature is available on the Data tab of all versions of Excel as well under the Sort & Filter command on the Home menu.

Formula: A formula is an expression which calculates the value of a cell.

IF Function: Use the IF function, one of the logical functions, to return one value if a condition is true and another value if it's false. So an IF statement can have two results. The first result is if your comparison is True, the second if your comparison is False.

IFS Function: The IFS formula in excel 2019 checks whether one or more conditions are met, and returns a value that corresponds to the first TRUE condition.

Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.

Lead Time: The number of days from when a company places an order for supplies, to when those items arrive.

Microsoft 365: Microsoft 365, formerly Office 365, is a line of subscription services offered by Microsoft which adds to and includes the Microsoft Office product line.

Pivot Table: A report creation tool in Excel that enables you to quickly summarize lists of data into summary reports by clicking checkboxes and dragging fields onscreen.

Reorder Point (ROP): The reorder point (ROP) is the specific inventory level that signals it is time to purchase more stock to avoid running out.

Row: A row is the range of cells that go across (horizontal) the spreadsheet/worksheet. Rows are identified by numbers e.g. row 1, row 5. Examples of use. A row might contain the headings of a table e.g. product ID, product name, price, number sold.

SKU (Stock Keeping Unit): An SKU (Stock Keeping Unit) is a unique alphanumeric code assigned by a business to a specific product variant for internal inventory tracking, stock management, and sales analysis

SORT: Sorting is the process of arranging objects in a certain sequence or order according to specific rules. In spreadsheet programs such as Excel and Google Spreadsheets, there are several different sort orders available depending on the type of data you're sorting.

Static Lists: A static list is a collection of items or records that remains frozen in time. Unlike dynamic or active lists that automatically update based on criteria, static lists require manual additions or removals to change their contents.

Table: A table is an arrangement of data in rows and columns, or possibly in a more complex structure. Tables are widely used in communication, research, and data analysis. Tables appear in print media, handwritten notes, computer software, architectural ornamentation, traffic signs, and many other places.

Table Feature : The Table feature in Excel 2007 and later is an improvement on the List feature in Excel 2003 and earlier. The Table feature provides enhancements that make it much easier to analyze lists of data.

Total Row: A Total row appears below the data where each column has access to several automatic formulas. The default selection for the Total Row is none, meaning no function is selected when you first turn on the Total Row on your Table.

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Frequently Asked Questions

Tracking inventory in Microsoft Excel is a practical and accessible solution for businesses that need flexible, low-cost inventory management without complex software. An effective Excel inventory tracker typically includes fields for SKUs, product names, quantities on hand, reorder points, and lead times. Using Excel's Table feature allows your tracker to self-expand as new items are added, eliminating manual range adjustments. Conditional formatting highlights low-stock items visually, while the IF and MAX functions can automate reorder alerts and calculate reorder quantities automatically. Sorting by multiple columns and filtering by category or status keeps large inventories manageable. For deeper analysis, PivotTables summarize inventory data across locations, categories, or time periods with just a few clicks. Downloadable templates can accelerate setup, while data validation ensures only valid entries are recorded. Aurora Training Advantage's on-demand Excel inventory webinar, led by CPA and Excel expert David Ringstrom, covers all these techniques step-by-step for immediate application.
Excel offers several powerful functions that can automate inventory reorder alerts and quantity calculations, reducing the manual monitoring burden on operations teams. The IF function is central to reorder logic—it can evaluate whether current stock falls below a defined reorder point and return an alert message or trigger a value automatically. Combining IF with the MAX function allows you to calculate reorder quantities that ensure you always order enough to meet demand without excess. Conditional formatting complements these functions visually by changing cell colors when stock levels reach critical thresholds, creating an at-a-glance dashboard effect. For more advanced users, data validation drop-down lists prevent entry errors that corrupt reorder logic, while Power Pivot enables analysis across larger datasets. Together, these tools turn a basic spreadsheet into a semi-automated inventory management system. Aurora Training Advantage's Tracking Inventory in Excel webinar, led by nationally recognized Excel instructor David Ringstrom, CPA, provides step-by-step guidance on implementing all of these automation techniques.
PivotTables are one of Excel's most powerful tools for summarizing and analyzing inventory data, allowing users to slice large datasets quickly without writing complex formulas. In an inventory context, a PivotTable can aggregate total quantities by product category, location, supplier, or date, giving managers immediate insight into stock distribution and movement patterns. You can group items by reorder status, identify slow-moving inventory, compare stock levels across time periods, or analyze purchase history by vendor—all interactively and without altering the source data. When combined with Power Pivot, Excel can handle significantly larger inventory datasets and incorporate data from multiple tables or sources. Properly preparing your inventory data before building a PivotTable—ensuring consistent formatting, no blank rows, and structured column headers—is key to accurate results. Aurora Training Advantage's on-demand inventory tracking webinar with David Ringstrom, CPA, teaches participants how to build and interpret PivotTables specifically for inventory management applications.
Yes, it is possible to create barcodes directly within Microsoft Excel, which can be particularly useful for small businesses or teams that want to integrate basic barcode functionality into their inventory tracking spreadsheet without purchasing separate barcode software. Excel supports barcode generation through specific fonts—most commonly the Code 39 or Code 128 barcode font—which you install on your computer and then apply to cells containing your inventory SKU or product code values. Once the font is applied, the text transforms visually into a scannable barcode. This approach works well for labels, pick lists, or internal documentation. More advanced implementations can use Excel's developer tools or macros to automate barcode generation at scale. Understanding the formatting rules and character requirements for different barcode types is essential for accurate scanning. Aurora Training Advantage's Tracking Inventory in Excel webinar with David Ringstrom, CPA, covers how to create barcodes within Excel as part of a comprehensive inventory management skill set.
Excel's Table feature (Insert > Table) converts a standard data range into a structured, dynamic table that automatically expands as new rows are added—eliminating one of the most common inventory tracking headaches of manually adjusting formula ranges. When inventory items are added at the bottom of a Table, all formulas, conditional formatting rules, and calculated columns extend automatically to include the new data. Tables also enable structured references in formulas, making them easier to read and audit. Built-in filter arrows on each column header allow quick sorting and filtering without affecting the underlying data. Total rows can be added with a single click, offering instant summaries like counts, sums, or averages that update dynamically as filters change. For growing inventories, the Table feature reduces maintenance burden significantly and sets the foundation for PivotTable analysis. Aurora Training Advantage's on-demand Excel inventory webinar with David Ringstrom, CPA, demonstrates exactly how to build and leverage the Table feature for efficient inventory tracking.