Use of Excel Spread Sheet by a Quantity Surveyor for Material Stock Taking

 


The material stock taking refers to the physical checking of the stock levels for the materials and products. The material stock taking procedure helps to ensure that the data regarding each material is accurate and up-to-date. The material stock-taking procedure helps to provide an audit of the existing stocks or materials and also helps to uncover the stock information. The material stock taking procedure is involved in the inventory control process, which helps to manage stocks and different types of inventory successfully.

Advantages of Material Stock Taking

There are numerous advantages of conducting the material stock taking process, which are as follows:

Keeping up-to-date records

While the product manufacturing process has been conducted, the correct and up-to-date information about inventory should be maintained by the quantity surveyor. The material stock taking procedure helps to ensure that the manufacturer has the finished goods in stock, which are ready to deliver to the customers, thus ensuring that the manufacturing company does not carry negative inventory. Thus, the business can save on carrying costs, and the inventory has been kept at optimal efficiency.

Uncovering stock room issues

The maintenance of the stocks and the security measures in the stock room can be optimised by the Material stock taking process. This procedure helps to ensure that there is no loss of the stocks. In this context, installing advanced locked systems, talking to the humidifiers and improving handling procedures have been done to reduce the stock room issues.

Improving sales strategies

The Material Stock Taking process helps to make a strong visual connection between the sales figures. This process also helps to adjust the sales and marketing efforts of the business companies, thus improving the supply of stocks.

What is the importance of using an Excel Spreadsheet for Material Stock Taking by a Quantity surveyor?

The Excel spreadsheet has been used by the quantity surveyor to conduct the Material Stock Taking procedure. The Excel spreadsheet enables the quantity surveyors to organise the materials data and track the goods inventory. Through Excel, the quantity surveyors are able to create spreadsheets, apply formulas to estimate accurate results, and there are other effective attributes, which are efficient for the inventory management process.

There are several key possibilities of using the Excel spreadsheets in the Material Stock Taking process, which are:

➢ The Excel spreadsheets help to display the inventory volume accurately.
➢ The Excel spreadsheet is also able to sort and filter information, which enables the quantity surveyors to search and analyse data quickly.
➢ The Excel spreadsheet helps to track the deliveries.
➢ The sales reports can also be generated with the help of Excel spreadsheets.
➢ The quantity surveyor is also able to visualise information with the help of the Excel spreadsheet, which helps to forecast the report more accurately.

The quantity surveyors of each company can generate their own Excel spreadsheet template, which can align with their requirements for the inventory management system. In addition, the quantity surveyors are able to generate multiple Excel spreadsheets within the workbook, which helps to organise the information more efficiently.

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