Wasp Barcode Inventory Management White Paper - Manual (Page 5)

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Likewise, these solutions should track the quantity on-hand, sold and on-order. If you order in bulk,
the software should automatically break-down the order into smaller quantities or units of measure
(UOM).
An inventory management system should give you visibility into your inventory's location, what's
moving, and what's stagnant, allowing you to make informed decisions about purchasing, marketing,
and advertising. In turn, this helps make your business more profitable and allows you to better
serve your customers.
What Technology to Use
One of the best and most affordable ways to track inventory is using a barcode-based inventory
system. A barcode is simply a graphical representation of a number or text string. The white spaces
and black lines represent the underlying data. Using barcodes virtually
eliminates human data entry errors when adding, removing, and
counting inventory. Scanning an item and/or location with a barcode
scanner or mobile computer is fast, easy, and efficient, and ensures that
data is always accurate. Barcodes are an ideal way for small businesses
to improve inventory efficiency and migrate from manual or spreadsheet
approaches without incurring the expense or complexity of a Radio
Frequency Identification (RFID)-based system.
Using barcodes, inventory control software tracks by an item number. While this is generally a
number you create for an inventory item, it also can be the item’s existing product or UPC number.
The software also can track inventory items by serial number, lot number, date code, and pallet.
Items can be monitored on a PC or mobile device.
The software should generate customized purchase and pick orders, support multiple suppliers for
each item, and track non-inventory items like supplies. In addition, leading inventory software
providers let you assemble and disassemble components and raw materials to create finished goods
for inventory, and enable you to receive alerts for past-due checked-out items, low-inventory and
expiring items. Inventory solutions should empower your business to be proactive, current and
accurate.
Inventory systems may use wireless networks to provide real-time data on your organization’s
inventory. Often, the cost and complication of implementing wireless infrastructure is daunting to
some businesses. As an alternative, inventory systems that update data by physically connecting to
your PC eliminate this layer of cost and complexity, while still delivering accurate stock data. In some
cases, inventory software is sold as an all-in-one, integrated solution complete with mobile