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Inventory Management: In-Depth

Inventory Management and Tracking Systems offer benefits to operations of all types and sizes. These benefits can vary as much as the applications themselves, but overall, inventory management systems decrease data entry errors, increase productivity, and lower operational costs. This is achieved by reducing or eliminating the following:

• Hand-keying of data
• Manual physical inventories
• Backorders and lost sales due to inaccurate or lost inventory
• Inventory write-offs
• Overstock due to inaccurate inventory
• Disruption in operations caused by material outages

Inventory management systems typically pay for themselves in less than one year. Most of the return on investment comes through saving on labor costs, inventory carrying costs, losses due to over-stock or out-of stock items and storage space costs. Very few companies understand how inexpensive and simple it is to put an inventory management system in place.

Inventory or Asset Tracking?

The first step in determining an inventory tracking system is to understand whether you are dealing with assets or inventory. Assets are "permanent" objects that a business uses internally, such as computers, tools, or educational material. Although employees may check the object in or out to go out on an assignment, or even use at home, an asset ultimately belongs to the company and must be returned to the company.

Inventory tracking, however, refers to objects that are sold, distributed, or otherwise consumed by a company. These "temporary" objects include retail items and office supplies. To begin, compare your objects with the chart below to determine if you need Inventory tracking or asset tracking.

The Inventory Management System

Do you have everything required for your Inventory Management needs? Look below or call a BarcodesInc product expert for help on implementing your Inventory Tracking Management System.

Inventory Arrives

Scan Item Using
Mobile Computer

Data Exchanged Via
Wireless & Inventory Software

Print Labels Using
Label Printer

Inventory Updated Via
Wireless & Inventory Software

Inventory Pulled Using
Mobile Computer

Inventory Shelved

Labels Placed On
Items

Reports Generated Via
Inventory Software

• The above Inventory Management components offer the following functionalities:
• Access Points / Wireless Switches provide wireless network for real-time asset tracking
• Label Printers generate labels for assets to be managed
• Mobile Computers scan assets to manage their locations
• Inventory Software electronically helps manage asset location, maintenance, and purchasing information, among other fields
• Labels designed to withstand any rugged environment

Inventory Management Case Studies

	Harsco Rail Tracks its Inventory with BarcodesInc
	BarcodesInc Helps Track Hospital Couriers
	BarcodesInc Helps Streamline Inventory Management at Newegg
	Warehousing Made Easy With BarcodesInc
	The Cargoquin Group validates and tracks the inventories of their logistics customers' goods
	BarcodesInc Helps Hitachi Manage Their Hard Drive Inventory
	Promega Corp Gets Help Tracking Their Products
	Rold Skov Sawmill uses Wireless Network and Barcode Scanners to track inventory
	Zebra Mobile Barcode Printers simplify Inventory Management process