Forum Discussion
Function to calculate Inventory carrying cost/fees
Using Excel 365 you could work out the cost of stock for each day and Sum it
= LET(
stock,Units+SCAN(Qty,SEQUENCE(Days),
LAMBDA(acc,d, acc - Units)),
SUM(stock*Cost))Otherwise you could recognise the amounts as forming a arithmetic sequence and use the formula (average of first and last multiplied by the number of intervals)
= (Days+1)*Cost*Qty/2
PeterBartholomew1 a possible solution. But why make a busy business user or analyst enter formulas when they could instead click one button (as in my template example) and everything just happens for them automatically?
Good question. Usual issues with third-party solutions
1) Vendor stops support for any reason (e.g. it doesn't work in updated environment) and you have to start from scratch
2) You need some modifications from time to time and here you fully depends on vendor
Each customer decides what is better. Invest some time in its own solution or rely on vendor. Both work.
- Right. And so as long as Excel Desktop is installed (that narrows it down to millions of users) and their data resides in an SQL database locally, network or in the Cloud and/or if their data resides in flat files somewhere locally, on a network or in the Cloud, then my templates will work.
