Inventory Management: Embrace the barcode

Q. How do I simplify serialized inventory?  

A. Serialized inventory is common in our industry, but it often proves more complex than it should be. Why is that? Depending on your business model, serialized inventory transactions can account for a significant portion of your company’s reconciliation tasks. While billing system requirements contribute to the complexity, many issues stem from areas we can control—specifically, serial number identification and item location management in warehouses or storage areas. 

Clear serial number identification  

Clear and consistent serial number identification is essential for efficiency. When serial numbers are hard to find or poorly displayed, it wastes valuable time and increases the chances of errors during deliveries or inventory counts. Many providers rely on the small, manufacturer-provided labels placed in various locations on the product, often making it difficult for staff to quickly locate the serial number. To address this, invest in a barcode printer and print barcodes using the manufacturer’s serial number. Make these barcodes prominent and place them in the same location on all products, wherever possible. This approach saves time and significantly reduces errors, while also simplifying the integration of barcode scanning into your operational processes. 

Barcoding item locations  

Equally important is the barcoding of item IDs within your warehouse or storage areas. Each item should have its own dedicated location, clearly marked with both its name and barcode. This is especially important for non-serialized or basic items, where you can scan the barcode to quickly count the items in that area or bin. Barcoding item locations not only reduces the time spent identifying items but also speeds up inventory processes, enhancing overall operational efficiency. 

By improving serial number identification and barcoding item locations, you’ll dramatically reduce errors and increase the speed and accuracy of your inventory counts. Implement these changes, and you’ll see a significant improvement in your inventory management processes. 

John Skoro is CEO and co-founder of HME360. Reach him at John@hme360.com.