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Importance of Barcode Inventory Management System for Small Business

March 18th, 2016 by Tanbir Leave a reply »
     




Inventory-Tracking-Software-300x199It is important for small business owners to have a proper inventory management system with the objective of having a smooth operations.  Smooth operations also ensure that the clients’ sales order are met as well managed inventory can prevent unfulfilled orders.  It also result in better cash-flow management as the possibility of inventory overstocking is reduced and the warehouse space is better utilised.  In addition, as inventory usually forms a large part of a Company’s asset, therefore it is important to ensure that inventory is well managed.

Manual tracking of inventory is time consuming and are prone to possible errors.   Unnecary time is wasted trying to reconcile the inventory data found on paper and physical inventory found in the various locations.  It is impossible to have an updated list of inventory level, if manual process is done, especially if inventory is stored in various locations.

Hence, having a barcode inventory management system for small business is important.

There are some useful functions found in the barcode inventory management software, which connects the barcoding system and inventory management software.  It is able to perform the following for the Company in an integrated manner:

  1. Inventory Process – an alert is sent to the invoicing department to send invoices to the debtors when the stock has been shipped, couriered or services rendered to the debtors. Such non delay in the invoice billing helps you to keep your Company’s cashflow in healthy position as you are able to collect monies from your debtors without delay.
  2. Product Lists – The barcode process ensures that your inventory level is updated at any time, 24/7. With the updated list, you will be able know which are the available stock for sale, to meet your customers’ demands.
  3. Stock Re-order Level Alert – with this feature, you will know when it is the appropriate time to order the inventory.
  4. Inventory Management – as the start to the end of the inventory process is tracked, business owners will know where to deploy their stock among the different warehouses and retail outlets, to ensure orders are fulfilled and there are no inventory shortages.

With the above functions included in the inventory barcode system for small business, your inventory is better managed, which will definitely help boost sales and improve the bottom line.

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