Stock control is all about inventory management. We need a way of keeping track of a complete list of items as they come and go out of a warehouse. These can be anything from goods that are in stock to any contents found within a building. We could have an inventory of our home contents and collections if we wanted. However, good inventory management systems come into their own when they are used to run businesses. Particularly those dealing with a large number of items that do not just come in once and are recorded, but come and go multiple times during a week, month, and year. It is extremely useful to have companies such as Scout Inc. that businesses can turn to so that inventory software can be purchased that is capable of running their activities. This will therefore be the first heading of our article.
Software
Inventory software can help with managing stock because we can swipe it in, or out, using the barcode, then know from the data our software has recorded, and in real-time, just how many items that we have in stock at any point in time. Not only that, but we can also know this from a distance. We do not have to be at our warehouse premises to observe our stock levels.
Well Informed Ordering Policy
Apart from having the software to make it possible, we also need to know what demand customers have for the goods that we stock in our warehouse. This can be a seasonal solution. However, with a good inventory, we can better manage the situation so that we do not over-order. A business that has been running for over a year should be in a better position to know that the demand every year is likely to be similar to the previous year at that time, providing no other factors have influenced the fact. For instance, pandemics such as Covid-19. These have made it hard to know just how much stock to buy in. One option to assist with this is for the business to employ the use of demand planner software as part of its inventory system. A good inventory system is vital as we cannot afford to make mistakes that are preventable when it comes to stock. Inventory management systems that are software-based and so computerized are the best way of keeping track of things because we can look and have our immediate answer.
Easier to Swipe in Stock
Barcode scanners will make it easier to swipe in stock and then good inventory software will follow this up with managing the information recorded. The advantage of portable barcode scanners is that they can be used to swipe boxes into a stock control system where they are not that easy to access. Perhaps because they are not in an accessible enough position to easily read the label.
Speed
It is much quicker to swipe than to write. This is where a barcode scanner and accompanying inventory software is useful. An item of stock can be recorded as quickly as a swipe. This is why supermarket checkouts are using scanners. It is because it speeds up the checkout process and means that there is no potential for amounts to be entered wrongly at the till. This leads to greater accuracy. The perfect combination is to have both speed and accuracy in any system and not have to sacrifice one for the other. With inventory systems, you do not have to sacrifice either but can improve both speed and accuracy in terms of the stock levels that are recorded.
Accuracy
The accuracy of the barcode, of course, relies on the accuracy of the barcode applied to the box, but still eliminates the chances of the handwritten recording of stock being misinterpreted. One figure can look like another. This is why the number seven with a line through it is often used. A number one can look like a capital letter I, so this can cause problems when handwritten, but there is no disputing it in computer alphanumeric code. A number zero can also suffer the same fate and potentially be a small or capital letter O. As a computer number, a zero will look narrower and clearer to distinguish.
To conclude, an inventory system is a solution to all a business’s stock control needs because it allows for stock to be effectively managed and for a business to know what they need to order. Stock can be swiped in easier, faster, and more accurately. These are all the solutions to any stock control problems that we might have experienced in the past as a business.