Inventory Checklist

What is an inventory checklist?

A inventory checklist is used by companies to record the stocks of goods, merchandise, land or building materials. In this way you can keep a comprehensive overview of all kinds of purchases. Accountants use it to check whether the inventory list of deliveries and purchases corresponds to the actual number of available products.

Taking an inventory cheklist helps you to evaluate the working capital and determine whether the stocks are sufficient for the company's delivery items, as well as to avoid overproduction, product spoilage or insufficient deliveries.

This article deals with the following topics:

1. Meaning of the inventory checklist

2. A digital solution for inventory checklists

Meaning of the inventory checklist

You should use inventory checklist to manage your products and services sustainably and to optimize your billing, . If you want to create such an checklist, you should add all relevant properties of an item to the inventory list. Since usually several employees do the inventory, the impression is objective.

In the following the components of an inventory checklist are named:

1. Position or item number




2. Location

• Warehouse
• Shelf
• Office



3. Model

• Identification number
• Description
• Remarks on properties: weight, appearance



4. Purchase information

• Purchase price
• Bought on
• Bought at



5. Current estimated value

• Wear
• Traces of use



6. Guarantee

• Guarantee until



7. Maintenance information

• Maintenance notes (to be cleaned, disposed of)
• Date of last maintenance
• Time until next maintenance

Advantages of using a digital inventory checklist

With the help of a digital app, you can easily perform an inventory check when receiving shipments, preparing goods for sale, and replenishing inventory. Lumiform is a digital solution for checklists, inspection and audits that replaces mountains of paper inventory forms. Easily record item quantity and total cost digitally. Benefit from the advantages of a digital application for your inventory checklists:

• Generate real-time data from any inventory check. This makes quality and security measurable and you can use the data to continuously optimize your inventory processes.
• Get an overview of everything that's going on during an inventory check.
• Inventory reports are created automatically after using a inventory checklist - this saves the complete postprocessing.
• Increase the efficiency of your internal inventory processes. Through more efficient communication within the team, with third parties and with management, as well as faster reporting, you solve incidents up to 4x faster than before.
• Save time by analyzing all data from your inventory checklists. Identify areas in your inventory process that need your attention more quickly.
• The very simple operation of the inventory checklists offers no room for error. The app minimises the effort involved in documenting or completing an inventory checklist as opposed to complicated paper or Excel lists.
• Depending on the size of the inventory, the tests are carried out about 30-50% faster.