How Failing to Use Barcode Technology Software for Order Fulfillment Is Bankrupting Your Business
Remember the days when nothing was done electronically? We do! Employees had to manually count and track packages, as well as keep important records of everything on paper instead of a computerized system. Mistakes happened often, managing inventory became too labor-intensive and all the time spent on warehouse training lead to a loss in company sales. It wasn’t too long ago that we solely relied on our own judgment to make knowledgeable business decisions instead of good ol’ technology. However, with the introduction of automation software for inventory management, the industry of order fulfillment has come a long way.
Barcode Technology in use at J.M. Field Fulfillment
Thirty-four years after the invention of the barcode in 1948 by Joseph Woodland and Bernard Silver, the CCD scanner (what most fulfillment companies use for scanning barcodes) was introduced. From there, it only took 12 more years for the first tracking software that uses barcode technology to rise to the surface. Due to the speed and convenience of using order fulfillment software, you’d think more businesses would use it. Yet, according to Wasp Barcode, 46% of small businesses don’t track their inventory or do it manually.
Poor inventory management is a business’ worst nightmare, plain and simple. Not knowing your numbers, and strategically tracking your inventory, means that you don’t truly know your business. Wilson Mizner, American entrepreneur and playwright, once said “If you count all your assets you always show a profit.” So what do you think you’re showing if you don’t count your physical assets?
The answer is uncertainty, lousy organizational skills and a significant loss in sales. An article from Understanding Ecommerce reported that inadequate inventory management is responsible for an annual loss of $1.75 trillion for retailers across the globe.
Failure to have a proper inventory management system in place is why most small businesses go bankrupt. As manual inventory processes are taking the back seat to electronic inventory systems, there’s a definite requirement for barcode technology to count your stock and keep your company on track. Once you start using order fulfillment software and implementing barcode use in your fulfillment warehouse, your business will start seeing the results you want and become more successful thanks to these five awesome benefits:
1. Tighter Inventory Control
Packages in your warehouse will most likely have barcodes. How are you going to track and handle packages for customers if you don’t have software tracking capabilities? Scanning barcodes, along with order fulfillment software, puts a tighter grip on your control over inventory. Think of barcodes as a form of identification for packages stored in your warehouse. Scanning the barcode on a package immediately gives you the information you’re looking for, while also identifying the package.
2. Saving Time Due to Automation
Once your business starts utilizing barcode technology, you’ll notice faster data retrieval and speedier warehouse operations. By scanning barcodes, you’re getting data delivered to you at rapid rates instead of enduring the slow process of manual inventory. The inventory management process is significantly sped up, since manual procedures like reading information and inputting product identification numbers are done electronically.
3. Improved Accuracy & Less Human Errors with Electronic Tracking
Since it’s human nature to make mistakes, it’s difficult to perform a perfect job when manual procedures are required in the workplace. You can alleviate stress and make it easy for employees to complete tasks with minimal errors by scanning barcodes and utilizing order fulfillment software. Nothing in this world is guaranteed to work perfectly, but electronic software that helps manage inventory and track customer orders comes pretty darn close! With this type of technology, the chances of encountering human errors are slim to none.
4. Saving Money by Scanning Barcodes
When an employee makes a mistake, it’s up to the company to step up to the plate and rectify the situation. Unfortunately, mistakes like this can be costly even though they can be corrected. When looking at the differences, barcode technology (in conjunction with fulfillment software) is a more reliable source than manual inventory procedures because data retrieval is both instantaneous and accurate. Once you eliminate human errors by using barcode technology, those costly errors will soon disappear.
5. Smooth and Simple Implementation for Staff
Guess what? Putting barcode technology into effect not only creates a clear pathway for your business, but it also provides easy implementation for employees. Forget about training your employees for multiple hours during the day and worrying about whether or not they understand the company procedures to a tee. Since barcode technology doesn’t require days or weeks to understand, practically anyone can use it without having to undergo extensive training.
Contact our fulfillment team to learn how you can put barcode technology to good use for your business!
Categorized in: Fulfillment Services