Do you know exactly what is in your warehouse – right now?
If your company relies on manual processes or spreadsheets to track inventory, the most likely answer is a resounding, “No!”
Losing sales, wasting hours with spreadsheets and manual counts
Unfortunately, taking inventory manually or with older technologies creates many challenges for today’s warehouse.
- Cycle counts can require days – or even weeks – to complete.
- By the time warehouse personnel complete a cycle count, hundreds – or even thousands – of inventory items were picked and put away. Immediately, the cycle counts are out-of-date.
- Using pencil and paper leads to a high error rate, resulting in inaccurate inventory counts and poor Warehouse Management System (WMS) data.
- Poor data quality can lead to out-of-stock items, which creates lost revenue and unhappy customers. On the flip side, bad inventory visibility can lead managers to overstock other items, tying up capital and warehouse floor space.
- Manual inventory counts eat up workers’ productive hours that could otherwise be spent fulfilling orders and carrying out other higher-value activities.
- When it comes time to balance the books, accounting personnel lack accurate information to calculate the value of inventory on hand. This can adversely affect the company’s balance sheet.
- Increasingly, customers require high levels of visibility into inventory so that they can comply with industry and government regulations. With a manual system, it is almost impossible to provide the required level of detailed information.
Executing faster, saving more with a barcode inventory system
A simple, affordable solution for these myriad challenges is a barcode inventory system.
- Workers rely on handheld barcode scanners or mobile computers, which they use to scan the barcodes of items in inventory.
- The barcode scan immediately syncs with the WMS, updating inventory counts in real time.
With a barcode inventory system, the benefits are immediate and powerful. Your company can enjoy cost savings, better worker productivity, and improved bottom-line results.
- Cycle counts that once required three or four weeks now can be accomplished in less than half a day.
- Managers know exactly what inventory resides in the warehouse at any given time. Trend data can easily be calculated, leading to better buying practices.
- Out-of-stocks can be avoided, so no more lost sales and angry customers.
- With better inventory visibility, you can move your warehouse closer to a just-in-time model. This means you can reduce overall inventory levels, since you will order new stock as it is needed and in the correct timeframes. As stock levels decrease, capital expenditures drop and less inventory space is required.
Discover how you can reduce costs and improve productivity with a barcode inventory system from System ID.
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