Keeping track of your company’s inventory isn’t easy. And, if you do it manually, you’re bound to have a few mistakes. But, those mistakes (while minor) could result in thousands of dollars in lost profits. Having the right inventory on hand is important. It ensures you can fill customer orders on time, but it also prevents any delays. If you’re having a sale, you want to make sure you have enough inventory to cover higher sales — and inventory tracking can help you do all of that.
Inventory systems are run through your point of sale system. Most point of sale systems have the capability of creating barcodes — and barcodes help simplify running your business even more. There are a lot of reasons retailers don’t use barcodes, but there are a lot more beneficial reasons to use barcodes. If you have been avoiding them for your business, here are some good reasons it is time to consider barcodes.
You don’t need any special training to create barcodes. You don’t even need training to read them. That is because you will have a barcode scanner that decodes and does all of the work for you. Also, anyone on your staff can learn how to use barcodes — which makes it easy to help new employees adjust to your system.
All barcode systems are scalable to your organization. As you get more inventory or have more products, you can continue to add unique barcodes to your products. There is no limit to what a barcode can hold. Also, if you need more complex barcodes, your point of sale system should be able to supply them.
It’s Firm Technology
Barcode technology has been around for a while, and it’s not going anywhere. In fact, it is one of the few technologies that is constantly being innovated. Also, new point of sale systems, like those found at Shopify, still use barcodes and rely on them for proper inventory tracking.
Barcodes Keep You Above Competitors
The retail market is highly competitive and one of the hardest industries to succeed in. But, regardless of the economy, you need to stay ahead of the competition, and barcodes can help you do just that. Barcode technology is something all major retailers use to keep their inventory in check and their checkouts flawless. If you aren’t using barcode technology, most likely your business isn’t performing like it should.
Barcodes Can Be Placed on Any Type of Product
Even the oddest shaped or softest products can have a barcode placed on them. Whether you’re selling candles, gourmet food or even socks, a barcode can be attached. There are different types of labels you can add to your label printer too — big or small — to make it even easier to attach your labels to odd-shaped products.
Barcoding Reduces Human Error and Effort
If you were to handprint labels on every product you sell or receive in your inventory, you could spend hours writing those labels. Also, every label that is hand written is at risk for human error — and those errors could cost you. Barcoding technology reduces human error and simplifies your business. Barcode scanners rarely produce an error when reading a barcoded label, so you don’t have to worry about a product ringing up incorrect or being lost in inventory — as long as you’re using barcode technology.
Lowers Overhead and Labor Costs
You can lower not only the labor time associated with inventory control, but also training time and overhead costs. Productivity is streamlined when you use barcodes, and because a barcode scanner will help provide automated product identification for your retail business, products are integrated and controlled with ease. Basically, barcodes help save your business time and money.
Barcodes Don’t Just Track Products
Barcodes can also be used to help track and valuate assets for your business. This is especially important for your year-end taxes and for insurance purposes. They also are helpful for loss prevention — since most employees are less inclined to steal when they know that inventory is automatically tracked and monitored using barcodes.
They’re Cost Effective
Compared to other forms of inventory control, barcodes are highly cost effective. All you have to pay for is the barcode printer and barcode scanner. The cost to maintain these items is minimal, and it often costs pennies per label (if not less) to track your products.
Every Business Needs Advanced Technology
Businesses need tools at their disposal to make their company run more efficiently. While you might think that barcodes and barcode scanners are a big expense, consider them more of an investment into the efficiency of your business. A business that operates more efficiently is ultimately more profitable than a business that doesn’t optimize its efficiency.