barcode labels
12 Jul
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Poor inventory management has a negative impact to a business particularly because a business owner stands to lose revenue and customers. If you are a business owner, whether you own a start-up company or a big company, you should focus on growing your revenue and this can only be achieved by incorporating barcodes into your product labels.

It is unfortunate that barcode labels are often overlooked as a method for inventory management, saving time and cutting costs. However, barcode labels are a viable and valuable choice for companies looking to increase overhead and improve efficiency. Let’s look at how you can use barcodes to track your company’s inventory and assets.

Eliminate The Possibility Of Human Error

Businesses that input their data manually use more time and the occurrence of error is significantly higher than that of barcodes. Barcodes are designed to hold a lot of information meaning that they can be used to store product information. A company that uses a customized system can easily scan barcodes on product labels to transfer this information. This method is reliable and fast and it takes infinitely less time than entering data manually.

Inventory Control

Barcodes makes inventory tracking easy and precise. A business is able to detect when inventory levels go down and it is able to produce more products to ensure a higher overhead. Barcodes can also be used to track equipment and inventory that is presumed lost. The time spent to search is reduced and the overall money sent to replace the missing items significantly goes down.

Streamline Shipping And Receiving

Barcode labels provide a way to monitor the flow of inputs. These labels help to identify the date of delivery, lot number, supplier, purchase order number and more. The information is then used to create purchasing and receiving records which provide lot traceability throughout their lifecycle. If your business involves shipping items, having barcode labels is mandatory. Once your products are in transit, barcodes provide an effective means of collecting proof of delivery and track packages.

Track Circulating And Fixed Assets

Barcodes were initially designed to track fixed assets. Today, barcodes are attached to machines, computers, office furniture, capital equipment and other fixtures so that a company can keep an account of what they own. A business is also able to easily conduct physical inventories, calculate depreciation and know when to perform preventative maintenance. Barcodes are also applied on circulating assets such as files, tools, equipment and other valuable inventory that changes hand within an organization. This helps to track who has custody of certain items which minimizes losses and inefficiency.

There are other various ways a company or business benefits from investing in barcode labels apart from tracking and managing inventory. Other top benefits of barcode labels include:

  • Reduce training costs
  • Provide instant information
  • Increases versatility
  • Helps in promoting a business

In order to print effective barcode labels, you need to work with an experienced label printer. Ensure that you invest in quality label materials that will offer durable solutions especially if your products have to be shipped over long distances. Also, get barcode software that will make inventory tracking fast and easy.