Wasp Barcode Inventory Management White Paper - Manual (Page 6)

866.547.9277
5
Taking Stock of Your Inventory
computer, barcode printer and software. This eliminates the need for integrating and testing separate
vendors’ products, a sometimes time-consuming and confusing proposition. In the retail
environment, you may choose an inventory solution that incorporates point of sale (POS) functionality.
The Supply Chain
Because of its spreadsheet-based inventory system, Amarillo National Bank was forced to write off
tens of thousands of dollars each year, since it could not account for inventory supply items and bill
its internal departments in a timely and accurate fashion. Driven to reduce costs – and by the
demands of accounting and human resources – the financial institution researched its options
before selecting a barcode-based inventory software
solution.
The bank immediately discarded its manual
spreadsheets and set minimum ordering levels to
automatically trigger purchase orders. When the bank receives items into inventory, it scans them
using a barcode scanner and checks them against the original purchase order, virtually eliminating
input errors and ensuring accurate knowledge of the inventory on-hand.
The bank saves about 16 hours a month – or $12,000 per year – that can be devoted to higher-value
tasks, estimated Cody Cadenhead, assistant purchasing agent at Amarillo National Bank. And the
accounting personnel have saved dozens of hours billing the branch offices, he said.
"Write-offs have dropped from tens of thousands of dollars to just a few hundred dollars per year,"
Cadenhead added.
Within the medical field, the Health Sciences Learning Center at Pensacola State College opted for a
barcode-based software application that included a
mobile computer because of the solution's intuitiveness
and user-friendliness, said Christa Ruber, supervisor.
The integrated technology helped the department slash
inventory by 65%; it optimized its inventory levels,
stocking just 1,750 items in two centralized supply
rooms instead of 5,000-plus items in closets around the campus, said Ruber. The money saved by
reducing inventory was a welcome outcome given the shrinking budget the school faced, she noted.
Just Fix It
Companies in the repair business also must keep careful track of the various pieces and components
flowing in and out of their doors.
Amarillo National Bank saves 16 hours a
month – or $12,000 per year – using a
barcode-based inventory software solution.
Barcode-based software helped Pensacola
State College optimize its inventory levels,
slashing inventory by 65%