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Advantages and Benefits of Inventory Management Systems

Advantages and Benefits of Inventory Management Systems

If you are running a business with lots of inventory in a warehouse you will no doubt be aware of the time it takes to physically count your stock. Not only is inventory management boring and tedious, it is really easy to make a mistake. Then more time must be taken to find and correct it. No matter how careful your count teams are it is fatally easy to mistake one product for another if they look similar, to record the numbers in the wrong spaces on your paperwork, or to make a typo when putting the data into your computer.

Such problems cost a great deal of time and effort to find and correct when staff could be better employed doing other, more productive chores. They can cause many hours of frustration and extra work as you or your staffs looks for the mistakes.

A different way of inventory management is needed. One that automates the tasks involved such as counting different products and entering the data. However, you may think that adding a barcode label to each and every product would be time consuming and often impossible for really small products, especially those with no packaging. This can easily be solved by placing a bar code label on each stocking bin.

The advantages of a good inventory management system are many. You can do without count teams as the job can easily be done with one person armed with a hand-held scanner. The count is entered onto the numeric keyboard and the device can then be connected to your computer and the counts downloaded quickly, thus saving the need for manual input.

This takes much less time than doing the count manually and no mistakes can be made. There are no columns to write information into thus that mistake is eliminated, and quantities and product numbers cannot be mistaken when they are recorded by the scanner. Of course there is the cost of buying or renting those scanners, other hardware and the software that is needed, as well as printing the barcodes; however most business owners would agree that it is well worth the cost.

Author Bio:

For the past 5 years I have been writing informative and quality articles on topics such as barcoding systems, inventory management, warehouse management systems and many more.

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Stop Wasting Time and Money! Wireless Inventory Management is the Future!

Stop Wasting Time and Money! Wireless Inventory Management is the Future!

Ask yourself this simple question, where does a company lose most of its money? For a myriad of businesses the answer is precise INVENTORY CONTROL! A large majority of them don’t even realize the amount of money they are losing, since they don’t have a proper asset management system set in place. The main reasons that lack of inventory control results in monetary loss is there are poor records for what products are being used, who is using them, when they are being used, and where they are going or coming from. All this information is vital for precise inventory tracking, counting, and monitoring.

Losing cash for frivolous reasons is only half of the problem. Wasted time is the other, since there are only so many hours in a day companies are always looking for ways to become more labor efficient. The amount of wasted time looking for lost inventory (that is rarely recovered) and the amount of stress and hassle accompanying it is detrimental to maintaining a self-efficient workforce. Often multiple people are hired on salary solely for the purpose of counting inventory. Not only is that tens of thousands of dollars that could be put towards better uses, but it also slows down multiple business processes due to a lack of labor efficiency. This all wouldn’t be necessary if there was a way to efficiently and effectively regulate inventory.

Even having to manually scan every product’s bar code is incredibly time consuming when compared to the next era of inventory management. The future is WIRELESS inventory management! The power of wireless lies in its ability to provide VALUE to any organization. By effectively using RFID (Radio Frequency Identification) technology, any business will be able to immensely increase labor efficiency and drastically decrease inventory costs, which results in a high ROI (return on investment)!

Here is an example of how RFID can save any business TIME and MONEY! Heart catheterization labs at hospitals lose hundreds of thousands of dollars every year simply because they have poor proper inventory control measures in place. Instead of nurses focusing on sick patients (aka their job), they have to go into every cath lab at a hospital and manually count all the inventory in the rooms multiple times per week. WHAT A WASTE! Not only does this bring into account the human error of manually counting, but it is very labor inefficient since it wastes hours a day. Now imagine just one of these nurses being able to spend the total of one hour a day walking through all the cath labs and waving a “magic wand” around, which counts everything in the room and organizes it into a computerized database. This is the power of WYZE-SCAN™, which is a wireless inventory management system!

WYZE-SCAN™ works by simply adhering a smart RFID label to the inventory inside of the Cath Lab. The tags have a small antenna that is able to emit radio signals that carry small bits of information about the product it is attached to, such as the product’s name and expiration date. All one has to do to precisely count and track every product in the room is to wave around the wireless hand held scanner called the “magic wand.” The scanner picks up the radio signals of every product and does an inventory count with astounding precision in a fraction of the time it would take someone to hand count every item in the room. Reports can be generated for items that have expiration date codes, replenishment lists, and costs of procedures for each doctor and patient.