Eight Benefits Of Using Barcodes For Inventory

by Maverick Label | June 27, 2013

Eight Benefits Of Using Barcodes For Inventory

When companies are searching for a way to cut costs and save time, many overlook the value of using a barcoding system when doing inventory.  Barcodes have proven themselves as a valuable tool for any business that is looking to reduce overhead and improve the efficiency of employees. Barcodes are also a reliable and inexpensive way to keep track of your inventory.  This tried and true method offers the following benefits to any company with needs for an inventory system.

1. Human Error

With a barcode system for inventory, you can almost completely eliminate the human error that interrupts your system.  When employees manually enter data, the error occurrence is quite a bit higher than when a barcode scanner is used to keep track of inventory.  Entering data by hand also takes quite a bit of time, and a barcode scanner provides a reliable and fast way for your employees to complete their tasks without error.

2. Less Training Time

Using a barcode system is fairly simple, even to those who are inexperienced with technology.  Most individuals can master the task of using a scanner within a few minutes, and develop the ability to read barcodes from the scanner quickly.  With a scanner, you avoid the necessary task of teaching your employees your entire pricing procedure or inventory system.  Your employees must participate in less training, which saves your company time and money.

3. Low Cost

Even the most intricate barcode system is fairly affordable for most companies with inventory needs.  A barcode is easy to design and print, and won’t require a huge investment from the company.  No matter where you plan to use your barcodes, they will likely only cost you pennies for each code you print.  Codes can also be customized exactly how you would like them to further advertise your brand and set apart your merchandise.

4. Versatility

Barcodes are easy to use for any collection of data that is necessary for your company.  They can be used for pricing or for inventory collection information.  Codes can be attached to any product, and can therefore be used to identify any products or shipments that come in or out of your place of business.

5. Better Control Of Inventory

Barcodes are an incredibly accurate way to track inventory.  With barcodes, you are able to determine exactly where your products and equipment are, and lower your overhead by reducing your inventory levels.  With better tracking of products, you save money by not purchasing additional inventory that is not needed.  Codes can also give you an idea of which of your products are big sellers, and which you need to focus more on being attractive to customers.

6. More Precise Data

Barcodes also provide you with more accurate data for pricing and inventory.  Each code can be used for both inventory and pricing, and ensure that the data for both categories is available quickly and efficiently.  Barcodes can be customized in any way to help you track the information you need for your products.  With a bar code system, you gain a better idea of exactly where your products are, and even why they are there.

7. Data Quickly Available

When data is manually entered, you may have to wait until the information is entered and made into a report before you can make a decision regarding your products.  With a bar code system, the data is available right away after scanning.  Data from a barcode scanner is scanned directly into your network, and can be easily accessed by those with the proper authorization.  You become more efficient when it is easier to find the information you need quickly.

 8. More Informed Decisions

Because a barcode system can provide more reliable data more quickly, it improves the decision making process throughout your company.  Decisions can be made based on solid data that comes from your codes.  You will not waste time on ideas or decisions that end up costing you money when you have reliable data to back up all your choices from your system.

The Traditional Method

As companies search desperately for ways to cut overhead and manage time more efficiently, many overlook the obvious choice of using a barcode system to create a company that is better run and better able to serve customers.  Bar codes allow you to be organized and informed in every decision you make regarding the inventory you sell with your business.  Inventory equals money, and managing your inventory more effectively will eventually lead to you making more money.