A nimble and responsive business needs to be on top of its supply chain every step of the way. A great barcode inventory tracking software can achieve this goal. Inventory levels must be controlled at all times. Too much inventory and money is tied up that could be invested or used for other things, but too little and orders go unfilled and customers are dissatisfied. The best warehouse tracking software will allow a company to easily reorder needed product and also control shrinkage. Until the cost and public acceptance of radio frequency identification (RFID) becomes acceptable and mainstream, bar code asset tracking as achieved with a durable and flexible barcode inventory tracking software may be the solution for many companies. The cost, flexibility, scalability and durability of all inventory tracking systems need to be considered before deciding on what is best for your company.
Barcode inventory tracking software can range from several hundred dollars to several thousand dollars. A company might not need all the bells-and-whistles if it stocks high volumes of a few products. Companies like Amazon with a long tail inventory approach have invested hundreds of thousands of dollars into the best bar code asset tracking that money can buy. Why pay for services and features to track thousands of items if only a hundred or fewer need to be tracked? A company should fully understand their existing warehouse tracking software needs before committing to a bloated asset tracking software package.
Flexibility and Scalability
An inventory tracking system also needs to be durable. A large company may need information stored and manipulated for thousands or hundreds of thousands of unique products. Software glitches and crashes can disrupt the supply chain and cost a company untold losses in missed sales and worker downtime. A company should inquire about what rigorous testing has been done to the software and try to find large companies that are using the same warehouse tracking software with successful results.
There are hundreds of different barcode inventory tracking software packages on the market today. Many integrate directly into a point-of-sale checkout terminal as well. Regardless of whether a company needs to tie inventory directly to sales or not, the pros and cons of any tracking software should be investigated. The wrong choice could literally make or break the success of a young company. Do not just rely on a vendor's demonstration video or PowerPoint presentation but ask to hear from real companies who are using the exact same barcode inventory tracking software. If a company cannot properly control inventory levels and prevent shrinkage than that company is being controlled by their inventory. This is not good for management, investors or potential lenders. A company needs to competently demonstrate that it is using cutting-edge barcode asset tracking to stay ahead in the market.