What is barcode?
Barcode is a sequence of parallel black and white bars and spaces used to store inventory and stock information including product name, product price, quantity, company details and any other relevant information. Barcodes are used for maintaining stock of large number of inventory products used in various industries like healthcare and hospital centers, shopping malls, post offices, libraries, book stores, hotels, offices, companies and others.
How to manage stock using barcodes?
Barcodes save various details about particular product or item to uniquely identify product like product name, cost of a product, name of a company to which product is associated, product creation time, quantity of product etc. Just attach these barcode symbols to products and use barcode scanners to read or fetch information about specific object. Barcodes are used in shipping and distribution areas for checking source and delivery details of products. Using barcodes, you can find out source location from which product has been sent and destination place to where product will be reached. In this way, barcodes are used to check whether product has been sent to its desired destination or not.
Benefits of barcodes usage in stock management
- Reduce paper work
Initially all details about products are written on paper and maintain massive paper work which leads to tedious calculations and problematic issues. Thus barcodes are introduced to record all product description in the form of coded black bars and white spaces and read product information through barcode scanner. There is no requirement of collecting paper material to store object information. Barcodes conserve all data in computerized manner.
- Gives accurate and precise results
Barcodes save product details in computerized form, so all the mathematical computations and transactions are done on computer which leads to less error. Use of barcodes provides better and most correct output solutions for inventory stock management.
- Helps in searching for product details in shop
Using product information stored on barcodes printed on products, one can easily find out how many stock of given product has been left in shop. Barcodes find out any specific product details in les time and effort.
- Speedy data access
Barcodes gives a fast and convenient way to save product details, look for available number of items or non available number of items in a grocery store.
- Money-making solutions
Since no paper work is required while maintaining stocks using barcodes, low maintenance cost occurs to save product information.
- Improved efficiency
Use of barcodes in stock management and inventory control leads to enhanced efficiency by recording all product details in coded form and fetch data in a computerized manner.
- Offers real time updates
Barcode scanners read product information stored on barcodes printed on each and every inventory item and display data on computer system to which it is attached. Barcode scanners are stand alone devices, thus it is simple to update product inventory details every day. One can get daily updating of products in a shop to maintain routine records.