I need to produce a document (preferably in Word) that has fields that pull
data from an excel spreadsheet.

I'm producing a report in memo format that remains essentially the same
except for some data, such as number of people, some dollar amounts, etc.

Is there a way to have a running link in word, where I can change the name
of the file linked, and it pulls the data from the right cells, kind of like
a paste link in excel?