FIFO Inventory Management Sheet in Excel

In this article, you will learn how to download and use the FIFO inventory management sheet in Excel. FIFO inventory management system is very useful for ensuring the products having earliest expiry dates are supplied early to ensure no products will go expire in the warehouse.

Structure of Template

This Excel template has 5 sheets.

Inventory Purchase: Enter the purchase details of inventory (product name, purchase date, quantity, batch number and expiry date)
Sales Report: This sheet will get automatically updated when order of customer is supplied.
Stock Balance: This sheet will auto update based on the purchase and sales transactions.
Order Processing: This sheet is used for processing the order of customer where you can know which batch and expiry dated product to supply to customer maintaining the FIFO system.
Product List: This sheet contains the list of products that you have in the warehouse or planning to purchase.

Benefits of FIFO Inventory Management

Below are the key benefits of tracking inventory in FIFO method.

Reduces Wastage & Obsolescence – Prevents expired or outdated stock, ideal for perishable goods.
Better Cash Flow Management – Keeps inventory moving, preventing idle stock losses.
Helps Maintain Quality Control – Ensures customers receive fresher, high-quality products.
Simplifies Stock Valuation – Provides stable inventory valuation, especially in inflation.
Reduces Storage Costs – Prevents overstocking and high holding costs.

Guideline on Using the Template

This Excel template will be downloaded in compressed zipped folder because it is a Macro Enabled (VBA) Excel Template file. After downloading, extract the file from zipped folder by Right Click and Extract All.
Once you start entering the data in the template, when you save it, it will suggest you to save as a copy with a new name of the file. The original template remains unchanged. Your data will be saved in the copy of the template.