Inventory control is an extremely important part of any retailer, wholesaler, distributor or manufacturer’s business processes. For any business who touches inventory, barcode labels are a great way to control costs, account for inventory, manage income and outgo and do demand forecasting. Barcode Labels

Account for Inventory

The most basic aspect of a barcode is that it allows your business to electronically track any item of inventory it is placed upon. With the proper software and hardware (printers, scanners, and databases), you can track each item’s location, quantity and more. The automatic accounting for inventory will save your business time and money: inventory will not have to be counted and entered in by hand.

FIFO, LIFO, and Specific Identification

In accounting, inventory is managed via several ways to account for COGS (Cost of Goods Sold). FIFO and LIFO are determined based off of an accounting idea to remove the costs of items based upon when they were bought (first or last). Specific identification has previously been just for high dollar, limited movement items (TVs, Cars, Gold Nuggets, etc.) because they warranted the cost of specific tracking. With a good inventory management system and barcode labels for all your inventory goods, specific identification ease a much easier process to enact across your entire organization. Specific identification helps businesses plan for exact costs, order JIT inventory and manage loss prevention.

Income and Outgo

Inventory comes into your business, is processed through internal locations and systems and then moved to an external party. This process of incoming and outgoing inventory can be enhanced across the board via automatic tracking using barcodes.

The possibilities for your business to use barcode labels, along with inventory management or ERP (Enterprise Resource Planning) programs are endless. To discover how to manage your entire inventory using barcode labels, please contact us.

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Our Other Products: Direct Transfer Labels, Preprinted Barcode Labels, Thermal Transfer Labels, Barcode printer, Zebra barcode printer, Barcode ribbon, printer ribbon, Label Rewinder, Barcode Ribbon, Thermal Transfer Ribbon, Flexible Packaging Ribbon, Near Edge Ribbon

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