Smart Warehousing Jan 25, 2022 12:53:12 PM 8 min read

Inventory Control Software with Barcode Scanning: One Way to Prevent Shopping Cart Abandonment

Inventory management is a crucial aspect of every business. In the eCommerce Sector, it is directly related to shopping cart abandonment. Even though it's possible to record inventory using other means like spreadsheets or hands, barcode inventory software makes the process much more systematic. So many companies are building their businesses around barcodes. Inventory control software with barcode scanning has been in some industries for several years. They have a proven track record of smoothening the operation of businesses globally. 

With a proper inventory management system, every business operation will function smoothly, and there won't be any declination. Some businesses manage their stock, costs and reduce errors using inventory control software. Above all, their abundance measures stand for inventory piloting and business awareness. So, if you want to thrive in every aspect of your business, try using inventory control software.

 

Barcode scanning as a part of inventory technology

Technology can define and mold several facets of modern existence. Indeed, it can ease and quicken every task. One technology that is essential for logistics/warehousing companies is a barcode. In short, barcodes are texts or pictures with numbers, and the image stands for visual data. 

In barcodes, the picture stores data, and a scanner can transfer the product details immediately to a computer. The logistic/warehouse companies can implement barcodes into their systems. Barcodes can be a tremendously successful implement by applying the solution with careful consideration and organization.

A barcode label is a visual comprising a bar structure with figures below it. Also, it depicts information that can be interpreted using a specific kind of machine. Usually, the data on a barcode consists of a vision of an object.

Barcodes have made business implementation procedures in supply chain management easy. They're helpful identification tools for tracking products and curtailing errors.

 

Application of barcode scanning in logistics/warehousing companies

Applying barcode scanning in every supply chain procedure helps reduce human error and offers precise information in real-time. The warehouse is a crucial aspect of the supply chain sector. That's because they have essential functions to support the transportation of goods, grouping of cargos, storage of products, shipment assembling, and much more.

When there's a smooth flow of goods, there won't be any issues in the supply and distribution of products. Inventory control is needed in companies to ease supply chain processes. The display of items in the storage room can affect the business organization regarding the flow, flexibility, capacity, and quality of goods to boost efficiency in the warehouse system.

The warehouse control system aims to oversee every procedure within the building. These include loading, receiving, outbound checking, order processing/picking, etc.

Barcodes help confirm every step and boost performance in the logistics/warehouse control system. But many warehouses are still using manual methods. Thus, companies need to keep the basis by using barcodes as the easiest and most economical solution. Even though scanners were somewhat pricey in the past, they are now entirely economical and have advanced features.

Barcode scanning technology systems are automated and need less or no human effort. 

 

The benefit of inventory control software to the logistics/warehousing industry

For some years now, barcodes have penetrated the supply chain at an increased rate, bringing new tracking and data collection avenues. From the most straightforward objectives - to know when a customer receives a package – to more intricate endeavors such as monitoring temperatures in shipment, barcodes offer astonishing information at a glance. Let's look at the benefits of inventory control software in the supply chain.

1. Better profitability

Get business awareness using inventory control software to know goods that are making waves now and the ones that will go next. Checking the inventory and tracking reports shows goods that are moving well, the ones you need to invest more, and the ones you should not—also, investing in goods that sell more means a more substantial gain for your business. Also, proper management of your products can help minimize shopping cart abandonment in your store and get more sales.

Successful inventory control implies understanding and using that insight well for marketing and merchandising. Inventory control software offers you the needed information to make valuable decisions to increase your income.

2. Higher productivity

A structured and orderly inventory control process implies getting things done in the shortest time possible. Using inventory control software can reduce the time to monitor, audit, and process goods. A single interface can help you check the amount of inventory stock, get vendor details, observe what's moving and what's not, and link to payment apps for purchasing and invoicing orders.

3. Minimizes old and dead inventory 

Arranging your inventory according to dates will help you determine goods that came in first and compare with the available quantity to know the amount you have to sell. It's crucial to know about out-of-date goods, especially perishable products, to sell them out before they become deadstock and make you lose the company money. Getting updated on out-of-date goods can help your company minimize wastage and reutilize old inventory to save money. 

4. Simple inventory processing

Efficient inventory computing by monitoring stock, inventory figures, and related costs through inventory control software to manage time. Getting clarity of the stock movement will help you know your inventory's position for excellent inventory control procedures.

Inventory control instantly notifies you of the available quantities when trading goods in real-time for speedy processing and marketing times. Inventory control software could help companies with under or overstocking to ensure there's only less stock to move.

5. Reduces the possibility of Stock-Outs

Any business that integrates inventory control software can prepare for different events, including stock out, impacting supply and demand. Stock-outs occur during a sudden need for a specific stock resulting in the selling out of the product. An inventory control software can help any business to prepare for such casualties.

Smart Warehousing Information Management System (SWIMS) offers a system of record for inventory, putting control and visibility in the hands of our customers. With the ability to integrate with over 170 different programs, SWIMS can seamlessly share information with your business. Contact us today to learn more about how SWIMS integrates with various technologies.