3 Reasons to Switch From Excel Spreadsheets to Software For Inventory Management

Introduction

Here at Fiddle, we help CPG founders and operations leaders scale their inventory operations. 

A huge part of what you do on a daily basis involves tracking inventory levels, sales numbers, product costing, lead times, batch numbers, and more. 

When you started your business, Excel or Google spreadsheets were the easiest way to keep track of all of those digits. 

And rightfully so! 

That’s the cheapest and easiest option when you start. 

There’s a chance that spreadsheets can still work for you. 

But if you’re reading this post, you might be having some doubts. 

Before we dig into the three reasons, I’ll just call out the pink elephant in the room: yes, we’re an inventory management software. 

So of course we’ll tell you spreadsheets are lame!

I ask you to set your skepticism aside for the next five minutes you’re reading. 

If you don’t agree by the end that it’s time to switch to software, then more power to you! 

We’ll be here to help if you ever change your mind. 

Okay, onto the three reasons… 

Get free contact info for 3,000+ Suppliers & Co-Packers: The Ultimate Supplier and Co-Packer List

1 – Restrictive user access

This is less the case with Google docs but is definitely a challenge with Excel. 

There’s probably one person who created the sheet to start but at some point, more people inside and outside your company need access. 

What happens when they make a change that you didn’t approve of? 

Or even worse, they make a change you don’t know about? 

Instead of spending your time focused on stuff that matters, you’re fixing formula errors or trying to find out why your new hire changed your formula. 

As your team grows, there will likely be multiple people who need to access the spreadsheet at the same time. 

That can cause all sorts of problems if you’re crossing wires or stepping on each other’s toes. 

Inventory management software, like Fiddle, is cloud-based and supports multiple users. 

Any changes or updates you make are automatically saved. 

Everyone can log in and use it at the same time without any issues. 

2 – Big spreadsheets are more likely to break

One of the biggest challenges with spreadsheets is they get harder to use the bigger your business gets. 

As you add more SKUs, sales channels, 3PLs, Co-packers, and more, your spreadsheet needs new tabs, formulas, and cells to track it all. 

Every new addition is an opportunity for a mistake to happen. 

One mistyped entry can break a formula that affects the entire spreadsheet and all of your numbers get out of whack! 

Who has time for that? 

Of course, you can still make mistakes with software, but you’ll never break the core code that makes it all run. 

You can quickly contact our support team via in-app chat for help with any issues you face.

Crucial FREE Resource: The Ultimate Guide to Inventory Management For Growing CPG Brands

3 – No automatic, real-time updates

The more manual entries required in your spreadsheet, the less likely they. are to happen. 

Not to mention, the more opportunities there are for incorrect inputs that give you incorrect information. 

One of the best parts of inventory management software is how much time it can save you. 

It connects with all of your sales channels so you don’t have to manually update inventory levels. 

It connects with your favorite accounting software so your COGS are always up to date and your accountant is happy. 

And more. 

Yes, it takes some extra time upfront to learn how to use new software, transfer all of your data, and connect your sales channels and apps. 

That’s why we have world-class onboarding experts to do it with you and in-app support to offer help along the way. 

That time spent upfront turns into hours upon hours saved in the long run. 

BONUS – Reporting 

Numbers are fantastic to have but if you can’t translate all of that raw data into clear and actionable reports, you’re going to struggle with scaling your business operations. 

Spreadsheets require you to manually interpret your data from scratch every time. 

Inventory management software allows you to generate one-time reports that are automatically updated in the future. 

For example, you probably want to know how much inventory you have on-hand at any given time so you know when you need to order more. 

If not, you’ll have stock-outs and will lose sales as a result. 

No bueno!

With Fiddle, you’ll be able to generate beautiful, data-packed reports with just a few clicks. 

The best part is the reorder point notifications. 

You can set up email notifications any time your raw or finished goods inventory drops below a certain number. 

You’ll even be able to auto-generate a PO to your preferred or most recently used supplier to make ordering fast and painless. 

Get free contact info for 3,000+ Suppliers & Co-Packers: The Ultimate Supplier and Co-Packer List

Summary 

At the end of the day, inventory management software gives you easier user access, dependable systems, real-time updates, and crucial reporting. 

Sure, you can still achieve some of that with spreadsheets. You might not need all of the features yet. You might not really feel the pain of those issues yet. 

If that’s the case, then spreadsheets might still work for you! 

On the other hand, if you’re feeling like your spreadsheets are about to break and you can’t stand another minute of sorting through tabs, columns, and cells, click here to schedule a demo with a Fiddle expert. 

We’ll take the time to learn about your operations needs, show you how Fiddle can help, and answer any questions you have. 

Or, if you’re ready to dig in on your own, click here to sign-up for a free 14-day trial of Fiddle. No credit card is required.

We’re here to help you succeed in your CPG business!

Crucial FREE Resource: The Ultimate Guide to Inventory Management For Growing CPG Brands