Five Reasons to Use Barcode Labeling for Inventory Management

Business owners are always looking for new techniques and technologies to make their facility’s operations easier, smoother, and efficient. And because the warehouse is the heart and the center point, controlling and managing the inventory here is the key to reach your sales and profit goals.

Companies generally have to tie up thousands and even lacs of dollars in inventory and other assets. In fact, some experts have pointed out that depending on the size of the organization, the stocked up goods can equal over 45% of one’s total operating budget. Well, that is huge!

Also, inventory expires, depreciates, and even becomes outdated over time. So, in order to stop your precious earnings from draining away on stock up of unwanted items, a well-devised inventory management system incorporated with barcode technology is utmost needed.

That will not only save money for you and time for your employees but also eliminate the stress over lost, misplaced or depreciated inventory frequently happening in your facility. Read more to know how implementing barcodes is beneficial for managing your inventory as well as business –

  1. Versatility in Operations

You will be amazed to know that barcodes can be used for a wide variety of data collection and read up to 2000 characters of information easily. Depending upon what kind of barcode scanner you choose, you can put on detailed pricing and inventory information automatically and track the products from the time they enter your premises till the day they move out.

  1. Error Reduction

When recording the data manually into the system, typo and other sorts of errors are pretty common on the part of your employees. Even the most skilled typists and sincere data entry operator can make costly mistakes once in a while. However, with barcode systems in place, you can enjoy automatic data transfers and make the process less susceptible to errors.

  1. Increased Efficiency

If the inventory in your warehouse is organized with a barcode system, your workers have to spend less time keying in or writing down inventory, or searching for items in the facility. It takes only a few seconds to scan each barcode, with little to no errors saving a lot of time and helping in effective decision making.

  1. Cost-Effectiveness

The time taken by a barcode reader is much lesser than what an employee takes to record manually. You just need to give your team a small training session as to how to use the equipment and hold the labels. And you will instantly see them fumbling less around with individual item’s serial numbers. Also, you will know what exactly is in stock and hence, save yourself from ordering an abundance of anything.

  1. Proven and Reliable Technology

Barcode technology has been in trend since the 1940s and advanced even more now. It has become easier to implement as more complex information, like expiration dates and serial numbers, can be conveyed without much hassle. Barcode labeling has indeed provided immense convenience and accuracy that anyone can unhesitantly rely on it and plan to make it a part of their facility and inventory management process.