Most traders order intuitively, which is perfectly fine when dealing with small quantities of goods. When sales rises, in order to be efficiently ordered, insight in inventory costs is needed. These costs are divided into three groups: costs of acquisition, holding and lack of inventory (missed income due to lack of inventory). An economically justified order quantity is the one that causes the lowest inventory costs.
I often get upset when I go to the supermarket and see the workers closing the passages by racking up the shelves. How to help them? If a company has implemented an ERP, it is possible to extract a stock report, critical inventory, and a place where the items are located (warehouse, location, position). With a little imagination and knowledge of conditional formatting techniques, there is an easy way to mark those shelves and positions where urgent refill is required.
In economics, the question often arises: Do you leave or keep a product? The answer to this dilemma is often difficult to find, but by analyzing the summary of the income statement we can come up with quantitative data that can make it easier for us to make such a decision. This is also an appropriate way to apply a Scenario method by which we can calculate alternatives depending on the steps taken.
Newer versions of Excel no longer support the document sharing option I have written in one of the earlier texts. It can still be used after manually adding to the quick menu or toolbar, but collaborating on documents has evolved into co-authoring. This means that the documents are saved on the OneDrive repository, and that the right-hand users can change them at the same time.
Excel offers you to add controls to documents, the same elements that you can find in windows and dialog boxes, and they enable choosing values, checking options, adding labels, choosing from list objects… Adding control to a worksheet increases interactivity between user and reports. In this way, you can easily create different polls and save the results in a form suitable for further processing.