There’s a common saying in the manufacturing industry: “Inventory is a necessary evil.”
Without proper inventory management, manufacturers may run into shortages of materials, causing the whole production line to grind to a halt, delaying shipments and cutting deeply into revenues.
On the other hand, having too much inventory adds to storage and insurance costs on top of affecting profit margins and working capital.
This is especially true for products with a short life cycle such as digital goods – and even more so for perishable goods such as food products.
Thus, many have been asking the same question: is it possible to make inventory management more efficient?
The answer is: yes!
It’s quite simple: with barcode labels.
Production Planning & Scheduling Purchasing
It all begins with production planning and scheduling purchasing.
After laying down production plans and purchase schedules, you can use a barcode label printer to generate labels with product specifications, product numbers, purchasers, and purchasing times.
Information can then be logged, and any further inventory management activities, such as material inspection or warehouse storage, can be assisted by a barcode scanner.
Not only will this simplify the processes of purchasing and database management, it can also calculate purchasing costs with high precision, lowering the chance for human errors.
Reduced Errors & Accurate Material Management
Since inventory and material are properly labeled prior to shipping, the need for shipment and inventory verification is reduced drastically. Through the use of barcode labels, the rate of errors decreases while simultaneously making material management more accurate.
By using real-time information, you can keep inventory at a constant level, eliminating the problems of material shortages or insufficient storage space.
It allows you to accurately manage inventory, fully implement a “First In First Out” system (FIFO), and lessen the problems of overstocking.
Recommended TSC Products to Boost Inventory Management with Barcode Labels
From attaining materials to shipping out products, a labeling and warehouse management system can accurately detect and record the changes in inventory.
To account for the needs of warehouse managers who are constantly on the move, the smaller ME240 introductory model series or the portable Alpha-4L of models are both great options and are integral components to optimizing inventory management.
ME240 Series Key Features
- 2-button 3-LED (basic model)/6-button LCD (advanced model) control panel
- Die-cast print mechanism for custom applications
- Flexible firmware structure allows the printer to emulate popular printer languages
- Available in 203 dpi and 300 dpi resolutions
Alpha-4L Key Features
- High-speed processor and extensive memory for fast print speeds of up to 102 mm (4”) per second
- High capacity 5800 mAh rechargeable Li-ion batteries
- Linerless ready
- Plastic design with rubber over-mold construction that withstands 1.5 m (5 ft) drop and endures 1.8 m (6 ft) drop with its protective case
- IP54-rated protective case to resist dust and water
Though maybe you viewed inventory management as a necessary evil in the past, with barcode labels, you can make it work for you. Barcode labels make managing inventory effectively both possible and easy, so having a successful supply chain management is no longer just a dream.
In a nutshell, if you’re looking to boost your inventory management and make it work for you, look no further than barcode labels.