Get Your Free Pro Forma Template Excel for Logistics Today

Free pro forma template excel for Logistics

Excel has long been a Cornerstone tool for businesses across various Industries but its significance in Supply Chain management cannot be overstated in the intricate web of operations that Define moderate Supply chains Excel serves as a versatile and indispensable Ally empowering managers to streamline processes analyze data and make informed decisions from inventory management to demand forecasting Excel offers a myriad of functionalities that enable supply chain professionals to navigate The Complex ities of global logistics with precision and efficiency the following five Excel tips will help every supply chain manager leverage the full potential of this powerful tool optimizing their operations and driving strategic success forecasting forecast sheet tool forecasting in Excel is invaluable for predicting future Trends based on historical data it employs Advanced algorithms to analyze patterns and generate forecasts aiding in decision-making in various Fields like Finance sales and inventory management in this example we will use forecasting to predict demand of products based on historical data select any cell in your data set then to create the forecast sheet go to the data tab then select the forecast sheet option once you click on the forecast sheet a new window will pop up with the forecast chart as shown there are two colors on the chart blue is the historical demand data and orange is the forecasting Trend divided into three lines the three Orange Lines consist of the forecast Trend which is in the middle surrounded by the upper and lower confidence bound of demand you can change the chart type from a line graph to a bar chart using this icon based on your visual preferences to customize your forecast chart just extend the option menu but before customizing you'll want to change the end date of your forecast period just by clicking the calendar icon and selecting forecast ending on December 1st 2024 using the same method set the forecast starting date for this example we're going to use January 1 2024 you also have the option to change the confidence interval this feature provides a range of possible values around each forecast to data point then select your timeline and value ranges by default the forecast ranges are automatically selected but you can customize it based on your preferences you can also use these settings to fill the missing points and adjust for duplicates click create to construct your forecast sheet once you click the create button the forecast sheet will automatically move to a new sheet with a new data table that includes the forecast the lower confidence and the upper confidence Fields filled with forecasting data based on the selected confidence level ABC classification percentile nested if formulas ABC classification helps manage inventory efficiently by categorizing items based on their value contribution it prioritizes high value items which is the a optimizes handling of the mod value items which is the B and streamlines management of low value items which is the C ensuring resources are allocated effectively and inventory levels are balanced assume you have a list of skus or item IDs listed with item cost and annual consumption for each items and you want to classify each SKU using the ABC classification let's see how it works calculate the total amount by multiple item cost and annual consumption to get the total annual amount now you have the total annual amount for each SKU then to get the percentile amount for each classification you should use the percentile exe formula type percentile exe then select the array of the total annual amount column make sure to use the absolute reference to fix the array range for the K Factor select the related percentile field for classification a which is 20% but you only want to capture the first 20% and exclude the other 80 so you should use one - 20% to get accurate results enter and drag the B classification cell now you have the minimum amounts for a classification and B classification to reflect which SKU is a b or c you should use the nested if formula type the if formula select the corresponding annual amount if greater than or equal to amount corresponding to the a classification then give a then if greater than or equal to amount corresponding to B classification then give B otherwise give C drag the formula to the other cells now all SKU inventory is classified to a b and c based on the percentile amount and you can just change the percentile fields and it will automatically be reflected in your SKU classifications reorder Point management Su if with conditional formatting reorder point is crucial in Inventory management ensuring optimal stock levels to meet demand excel's some if and if formulas help calculate reorder points efficiently based on demand and Safety stock and with the conditional formatting feature you can easily visualize it let's see how to apply this with Excel assume you have a list of your inventory skus which are sorted on a table with the beginning stock for each item and reorder point that you previously calculated ing to your shipping lead time and Safety stock calculation first you need to get the sales or demand for each item from your historical sales data and to calculate the value we will use the sum if formula type some if and select the formula then from the historical sales table select the field of SKU column then select the corresponding SKU cell at the reorder table and finally back again to the sales table and select the sales quantity now all the related sales quantities are shown with the SKU on the reorder Point table now we will use a simple formula to get the current onhand stock by deducting beginning stock from Total consumed quantity now you have the actual onhand stock field now you need to get the reorder status of either yes or no based on the reorder point and onhand stock and in this case we will use the IF function simply type if then select current stock onand greater than or equal to reorder point then give no don't order otherwise give yes order now you have the reorder status for each SKU in the table we can use conditional formatting as well to visualize no and yes status select the text that contained from conditional formatting under highlight cell rules and format no a green color and do the same for yes but highlight it as a red color now you can easily identify red cells to reorder the reorder management table is ready and reflects the reorder status for your skus and once the current stock gets lower than the reorder point the sales will turn red notifying you that yes it's time to start a new order efficient data lookup X lookup formula with data validation X lookup streamlined Supply Chain management by swiftly retrieving crucial information such as product prices based on unique identifiers like skus in an example scenario xlup efficiently matches each ord's SKU with its corresponding price from a database automating the pricing process in this example we will reflect the price for the corresponding selected SKU let's dive into how this works first select the cell you want to return the SKU price Type X lookup and select the function the first criteria is to select lookup select the corresponding SKU cell for the second criteria select the lookup array to do so select the SKU field from your SKU price list for the third option return array you will select price range from the SKU price list then for the if not found option this is in case the selected SKU is not found you have an option to return a specific value or text in this case we will return SKU not found for the match mode option we should select exact match using a zero to return only the exact price value click enter and now the X lookup formula is ready now in the corresponding SKU cell start typing in SKU number and you will automatically get the exact price in the price sell if you incorrectly entered a non-existent SKU number you will get the text SKU not found we can simplify data entry for skus by adding a drop- down menu feature just go to the data validation button and select the list option from the allow criteria at the source box select your sku's list range and then click okay now your searching feature is easier and more accurate using a drop- down menu instead of manual data entry analy data feature in Excel the analyze data tool in Excel is the most powerful tool for optimizing supply chain processes these tools enable professionals to uncover actionable insights from large data sets facilitating informed decision-making and improving operational efficiency this tool includes functionalities like Insight suggestions creating pivot tables descriptive statistics and regression analysis to use the data analysis tool in Excel follow these steps first select any cell in your data set then go to the Home tab and select the data analysis icon once you click the data analysis tool a new window called analyze data will pop up on the right side which will include some helpful insights to add any visual from these quick Insight options just click the plus insert pivot chart button and it will automatically publish to a new worksheet with the selected visual you can select more than one visual from the discovered insights if you find it is a helpful analysis for your data set above the search box ask a question about your data includes some suggested questions that you can select for more insights you can also ask for any insight just type a description of what you'd like to return in this example we will ask for a bar chart comparing category and total price sorted from highest to lowest then click enter the request will be populated immediately and if you find the results helpful just click the plus insert pivot chart button and it will be inserted on a new worksheet embrace the power of excel's data analysis tools to drive success and innovation in your supply chain Endeavors thanks for watching 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