Signs To Realize The Requirement Of Serialized Inventory Management Software

The inventory is one of the most valuable assets a business can have. For a wholesaler or retailer especially, managing this inventory is the most important task there is in order to satisfy customers. A company following healthy practices for inventory management will be able to achieve much more efficiency and as a result, be able to increase profitability.


Businesses are becoming leaner day-by-day. With new practices and techniques, organizations are quick to adapt new ways for maintaining an edge over their competition. Business processes are also changing, it is imperative to switch to a better way of doing redundant tasks if organizations want to stay afloat.

Inventory Management and Redundant Tasks

The daunting thing about inventory management is that it is full of redundant tasks that require frequent data input, tracking, storing, and record maintaining. Such tasks if done too frequently (and that too manually) are enough to make any sane person go crazy. Luckily, new software provide a way for businesses to automate these redundant tasks and give warehouse managers, supply chain professionals, and small business owners a much-needed peace of mind.

What is Serialization

Serialization is the process of utilizing unique serial numbers of every inventory item to track and maintain records without duplication. Because every product code is unique, the inventory can be maintained with better precision. Serialized inventory software allow for recording this data with the help of barcode or QR code scanners.



The software picks up the barcode and retrieves it in the system. The interface then allows for adding the specification details depending on the nature of the business and their inventory. Some good software companies customize each module depending on each business’s needs.



Signs That Show You Need A Serialized Inventory Management Solution

With the help of the following signs, you can find out if you need to make the switch to an inventory management software with serialization features.

Your Organization Uses IoT Sensors


Many organizations have IoT sensors deployed across their premises for measuring temperature, humidity, vibration, and motion etc. If these sensors are installed in large quantities then a serialized inventory solution can allow for easier maintenance and repair operations. The software can highlight the location of the sensor as well as its description.


You Face Increasing Competition

Do you notice that you have a lot of businesses in your competition that operate on a similar business model? If so, then using serialized inventory can bring a huge edge. You will be able to operate while comfortably managing stock levels and maintaining on-time purchasing.

You Frequently Suffer from Stock Outs

Having frequent stock outs can negatively impact the perception people have about your business. Stock outs can leave you open to losing even your most loyal customers. So, avoiding this should be a top priority. Inventory serialization software can notify when inventory levels are low and set reordering points accordingly.

You Rely Too Much On Spreadsheets

Spreadsheets are a hassle to maintain and because they don’t have automation, they don’t bring much benefit other than digitizing your data. However, serialized inventory management software gives you real-time tracking of your inventory and changes are highlighted instantly in the system. Because the data for purchasing, sales, and testing are so well connected, you get a clear picture about the current standing of your business very quickly and in an easy to understand graphical manner.

You Manually Test Inventory

Some businesses rely on testing their inventory for defects, this is done primarily by companies that import container loads of electronic items. They need to be tested and classified according to their defects so that they can be sent for the required repairs/refurbishing. If these reports are being created manually, then not only would the chances of errors increase but creating a new report each time would be very time consuming. Software can just print these reports using a standard template which can be pasted along with the product and sent forward for repairs.

You Need Product-Wise Reports

For businesses that have a wide range of products and their categories. A large amount of sales can make it difficult to evaluate which products are in demand more than the others. Through serialized inventory tracking you can find out the gross profit by item, stock information by condition, and valuation of each SKU’s inventory at any given moment.

Your Business is Growing Rapidly

When your business growth starts kicking, it can also come with its unique issues. Scalability is a big concern because if it is not accounted for, a business’s high growth figures can easily convert into a threat. Avoiding this threat is only possible when systems are in place that let you store and manage large amounts of inventory data at without bottlenecks in order management.

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