Excel Guidance For Manual Warehouse Management - B2b Cross Border E Commerce
Nov 17, 2022 | Shivphool Singh and Konark Ogra
Introduction
Warehouse management refers to the oversight of operations in a warehouse. This includes receiving, tracking, and storing inventory, managing shipping, workload planning, and monitoring the movement of goods. For any warehouse manager, Tracking the overall operating profit in terms of SKUs and customers is critical.
All the warehouse management processes can be categorized into 3 subcategories-
Demand Forecasting
Inventory Management
Tracking financial performance Excel Guidance for Manual Warehouse management
Demand Forecasting- Forecasting models are one of the many tools businesses use to predict outcomes regarding sales, supply and demand, consumer behavior, and more. These models are especially beneficial in the field of sales and marketing.
Various forecasting models can be applied based on situational requirements. The chosen model must include the following things-
1- Use of available data source
2- It must consider the stage of the product’s life cycle for which it is making the forecast.
3- Model accuracy vs inherent cost trade-off i.e purpose of forecasting
4- A combination of qualitative, time series, and casual models for forecasting
Inventory Management and Strategic Warehousing- Inventory management plays a critical role in defining strategic warehousing. The right balance of desired SKUs plays an important role while fulfilling the demand and creating an effective impact in managing a healthy balance sheet. Inventory management always plays a trade-off between the cost of keeping the inventory and the revenue earning. In a direction, where overstocking or wrong stocking can affect negatively put inventory-keeping expense stresses. In the same manner, understocking will leads to unfulfilled demand leading to a loss of credibility with customers.
Tracking Financial Performance- The financial performance of a typical warehouse can be tracked in two terms-
SKUs financial to track the overall operating profit/loss
Customer wise financial to track the overall profit/loss
Ways of warehouse management
Manual and digital methods may both be used to monitor and control the warehouse's most crucial operations. Management approaches may be chosen based on several criteria, including the size of the business, the number of product lines managed, the needed operating profit margin, and the desired turnover rate.
Warehouses with a larger number of SKUs, fewer or no customers, and greater turnover rates are ideal candidates for a fully digital warehouse management system. Greater transparency and better control are the trade-offs for the larger initial expenditure required by this method of administration.
Smaller warehouses are more likely to adopt a manual management system. It may cause unbalanced management, inefficiency, and a host of other issues in this context. If these issues are resolved, the warehouse's overall performance may be optimized, making this tool ideal for those in charge of maintaining it.
Excel Guidance for Manual Warehouse management
Excel with proper modeling is one of the most powerful tools that can be used in manual warehouse management. For small-scale warehouses, It is an efficient and free-of-course tool that can be used for enhancing performance in different parts like inventory management, demand forecasting, and overall performance tracking.
Excel Model link- Rural_Handmade_DATA.xlsm - Google Sheet
Instruction Manual
The excel model is created for assisting warehouse management. It has mainly 4 sections i.e. forecasting, inventory management, monthly performance tracker, and live tracking dashboard for different parameters.
Forecasting Workbook Manual
Inventory Management Workbook Manual
Monthly Performance Tracker Workbook Manual
Dashboard Workbook Manual
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