What Is a Barcode Inventory System?

November 22, 2021

The fact that 20% of small businesses fail in their first year may sound scary, but it's easy to avoid becoming part of this statistic. Most businesses that struggle do so because they lack organization and the ability to manage their funds. Implementing a barcode inventory system solves both of these problems by organizing your stock and keeping track of purchases and sales.

But how does a business barcode system work? How can you create a barcode inventory system and implement it effectively? Read on to answer these questions and to learn how barcodes can help to ensure that your business prospers regardless of its size.

What Is a Barcode Inventory System?

As you likely know, barcodes are small rectangular images made up of multiple parallel lines. They also may come in the form of square-shaped QR codes. What you may not know is that the image is a visual representation of data. In an barcode inventory system, the data denotes what the product is, how much it costs, where it is stocked, where it comes from, when it was stocked and more. This information can be transferred immediately to a computer system when the barcode image is scanned. This lets workers visualize the current price and appropriate location of the item for stocking purposes. Scanning the barcode labels in a checkout line also allows the computerized inventory system to alter the number of items within it. The system will then show that something has been removed from the premises. This is referred to as a barcode inventory system, and it's a far better alternative to manual inventory.

Why Is This Important for Small Businesses?

As your small business grows, keeping track of all items by hand becomes an impossible task. This is why you need a simple but robust barcode inventory system. Below are reasons why you should have this barcode inventory software.

Easy To Train And Use

Barcode Inventory systems shorten employee training periods compared to manual inventory. The handheld scanner used for reading barcodes can be mastered in a matter of minutes. This also lowers the cost of employee training. A barcode inventory system is also very easy to use and it does not need high knowledge of IT. An employee can easily pick a scanner, scan the barcode and data will then be available on their screen. Printing and designing the barcodes is very cheap and they can be placed almost anywhere.

Minimizes Errors

Barcodes make inventory tracking both simple and more accurate since they stop the human error that would come with counting and entering information. Fatigue, multitasking, stress, and bustling work environments naturally cause errors to take place. As a small business, human errors that cost the business money should be avoided. Human beings will generally make a data entry error for every 250 keystrokes on a machine. On the flip side, computer error rates take place only every 36 trillion characters when scanning. With a barcode inventory system, the chances of error reduce significantly. Since accurate inventory is critical when calculating profits, losses, and what is available to sell, minimizing these errors is of the utmost importance.

Better Customer Service

Good customer service is one of the core strengths for any profit-making business. And this service is measure by how fast a business can deliver a product accurately. All businesses will at some point field a call from a customer enquiring to know the specifics of a given product offered. When there is no way for a representative to access that information, it can get frustrating for the consumer. They then may choose to take their business to your competitor organization with a more efficient inventory system, driving your small business out. Barcode inventory systems allow employees to see all product information within seconds. They can simply pull a product off the shelf, scan it, and view a detailed set of notes about it such as price, availability in number, expiring date among other information. They can then serve the customer fast, effectively, and accurately. This leads to a higher customer retention and satisfaction.

Efficient Business Environment

Barcodes don't just help customers get quick data- they also help staff members work more efficiently. A barcode inventory system will enable staff members know where stock items are located. This will save a lot of time which would have been lost searching for the items. They will also know exactly how many of the product that a customer wants is in stock. If you're particularly organized, you might even simply be able to print out a barcode for each product and put them in a binder under the customer service desk.

Supports Business Growth

Another great thing about keeping accurate inventory is that you can see where a given item is in stock if not at your facility, in real time. This will let you know if another store within your chain has the items stocked so that you can direct customers there. If you are not a chain store, the barcode inventory system will show you if it is in stock at your warehouse. You can then choose to order more of the item to your store. You can also tell interested customers that they can order it online if it is in stock at the warehouse.

Data Visualization

Barcode inventory systems allow you to track data about what your customers purchase. You can see and examine buyer trends so that you understand what your target consumers buy the most, when they buy it and in what quantity. When you have enough information to track, sort, and graph this data, you can figure out how to better help your business succeed. You will be able to purchase stock similar to the things that your target audience is most interested in. Have your most popular items in stores at all times. Make sure that you understand seasonal inventory trends so that you can have enough items for all consumers regardless of the time of year.

How Can You Implement a Barcode System?

Implementing a barcode inventory system is very easy. First, you choose a pricing plan with Britecheck - state whether you're an SMB, a company, or a corporation. We work with businesses of all sizes and are happy to give you the appropriate price to meet your needs. Next step is downloading the app. You can immediately install and use our inventory app on your mobile device for easy use. This means that you don't need to invest in specialized barcode scanners or barcode generator. Instead, employees can scan inventory directly into the system using their personal smartphones. We can also guide you through the installation process.

Get Started With Britecheck Inventory System

Barcodes are an essential tool for tracking a variety of data. While keeping track of everything in your store may sound like a challenge, it is straightforward when you have Britecheck barcode inventory system. From pricing to inventory, we provide your business with a barcode inventory system that is both affordable and simple to use. Now that you know why this is the case, it's time to get started. Our staff members are committed to helping your small business succeed in getting your stock organized and taking care of all your inventory logistics. Contact Britecheck with any remaining questions that you have about inventory and to begin implementing a business barcode inventory system today.