How can you use inventory scanning to efficiently manage inventory? By scanning a barcode designated for a specific product, you can cut down on wasted time, human error, and costs in your supply chain. The use of inventory management software along with the expertise of a Third Party Logistics provider or 3PL can help to maximize the efficiency of your supply chain. Increased visibility into the data you’ve collected will help you make informed decisions in real-time, making your customers as happy as can be!
What Is Inventory Scanning?
Inventory scanning is the process of using an inventory scanner to scan a barcode assigned to that product.
How Does Inventory Scanning Work?
Inventory scanning works by using a wireless handheld scanner to read the information encrypted in the barcode which is translated by inventory management software and the data is then tracked in a database. This data can be disseminated for inventory tracking, purchasing, and accounting.
5 Ways Inventory Scanning Can Improve Your Business
Inventory scanning can increase your supply chain efficiency. Here are 5 ways that inventory scanning can improve your business.
Improved Accuracy
Inventory scanning can help reduce human error and improve accuracy of product tracking by digitally accounting for each and every item that comes through your warehouse. This helps to eliminate the need for manual counting which reduces human error and increases the accuracy of your inventory, as well as the tracking of your products through the supply chain.
Cost-Effective
Inventory scanning is a cost-effective way to reduce errors and manage your inventory because it provides a clearer picture of accurate inventory costs, estimated delivery times, and ultimately a better price to market.
Gathering Data
Inventory scanning allows you to identify information, such as, where the product is stored and how much is in stock, which allows you to easily track inventory and have a clear idea of how to quickly and accurately manage your products.
More Visibility
Utilizing inventory scanning provides the ability to track when products are shipped from the manufacturer or supplier to when the product is dropped off at its shipping destination. This provides much more visibility into your end-to-end supply chain.
Improved Speed
Implementing inventory scanning will improve your speed to market by eliminating manual data entry and the time spent counting products manually, as well. The time saved by scanning each item can add up, increasing revenue.
Easily Managing Inventory Tracking With a 3PL
One of the best ways to maximize efficiency and track inventory in your supply chain is to enlist the help of a 3PL like Print Bind Ship, who can help you focus on growth rather than spending time and energy on all the things involved with order fulfillment. Let our experts help you to streamline your inventory and build your company better.
Inventory Scanning is an Effective Way to Manage Inventory and Create an Efficient Supply Chain
Inventory scanning is a cost effective method to help you eliminate waste, increase efficiency, and grow revenue in your supply chain process. Perhaps a partnership with a 3PL provider,, like Print Bind Ship is an excellent solution, as well. Continue reading more valuable articles from Print Bind Ship to further your knowledge in all areas of the shipping, binding, and printing businesses.
FAQ
The barcode system is used in the United States, New Zealand, The United Kingdom and Australia across product industries. Barcodes or Universal Product Codes (UPC) are used to easily identify products for purchasing, inventory, and accounting purposes.
The five main types of barcode readers are laser scanners, pen wands, charge-couple device (CCD) scanners, image scanners, and slot scanners.
Warehouses use barcode scanners, Bluetooth or USB scanners and RFID scanners.
