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Why Asset Tracking Is Necessary in Healthcare ? Elaborate

on April 05, 2022

 

Define Asset Tracking Software For Healthcare ?

From MRI and PET scanners to blood pressure equipment and mobile cardiology carts are among the assets in any healthcare entity. Hospital asset monitoring software tracks and analyses all equipment, and this ensures a hospital’s efficiency and that staff access the resources they need to perform their duties in time or on time. These assets are not cheap, and keeping track of assets saves money by streamlining scheduling and maintenance.

What Are the Key Functions of Asset Tracking Software Healthcare?

 

An Asset Tracking Tool’s Basic Features

Using an asset monitoring technology in a high-asset business has several benefits. This is particularly true in healthcare, where assets are significantly dependent on one other. Having the capacity to monitor every asset in a facility can:

  • Easily find medical equipment in real-time

Manage your complete inventory from one place and keep track of your equipment. Smart Alert warns you of low supply (text/email) to prevent downtime.

  • Lower expenses of replacing lost or stolen equipment

This asset monitoring solution will assist reduce equipment replacement expenses. It is a project that will help reduce the expense of purchasing new equipment due to equipment loss or theft. The initiative will help most organizations and companies defend themselves from harmful assaults like theft and damage.

  • Track an asset’s ROI and value it properly

Protect uses the block chain to provide real-time property value adjustments. Protect can monitor changes in property value by digitally capturing data on an immutable ledger. Use this invention to monitor changes in income potential, capital gains, and the cost of ownership.

  • Verify asset consumption and performance statistics

Make sure your company controls its resources and knows how much it consumes. Create a dashboard displaying the capacity of virtual machines at any given moment to help plan capacity and resource distribution.

  • Accurate inventory management

Manage inventory, orders, and delivery. The app helps you innovate by managing inventory, allowing mobile ordering and delivery, and checking for fraud.

  • Organize physical space and equipment storage

Any business organization needs inventory control systems. With these programs, you can keep track of your inventory and get notifications when anything goes wrong.

Why Organization Should Choose It? And asset Tracking Important Role for Hospitals in a Pandemic?

Even as governments eventually remove the lockdown, hospitals are still combating COVID-19. Business activity generates a large amount of tax money for the government. The coronavirus has shaken the global economy. But now is the time to go back to work. Hospitals have been overrun during health crises. Hundreds of people waited in line for medical assistance, beds were few, ventilators were in high demand, and even medications were inadequate.But now, it’s time to learn from the past and avoid repeating errors. Assisting hospitals and healthcare facilities with asset tracking systems.

An Asset tracking as a final Solution In severe conditions

To comprehend an asset tracking system, one must first understand asset tracking. Asset tracking is the process of monitoring and managing physical assets, and asset tracking technology delivers real-time asset data.

  • Stock-tracking in real-time

Medicines and other key inventory items must be updated. You may set up asset monitoring alerts and notifications for your team.

The system alerts the appropriate person or team when the stock falls below the predefined level. They may replenish the stockpiles, and setting the reorder limit is similar. Therefore, the customer may monitor inventory in real-time and see remaining stock or other inventory data.

  • Asset tracking

Many hospitals are struggling to treat patients owing to a lack of ventilators and IV pumps. Every ventilator and IV pump counts in an emergency, and the program can tell you how many ventilators are available at each facility. Such fast and reliable data may greatly benefit health administration.

  • Smarter Decisions

This program also gives reliable data, which helps the hospital make better decisions. If there are more ventilators than needed, they might be shipped to another facility that needs them.

  • Asset Care

We know the corona virus is infectious. COVID and other patients abound in hospitals. Sanitizing all rooms, equipment, and assets is critical in the present pandemic.

Equipment and life-saving devices need frequent maintenance, and they must be maintained clean, sanitized, and operating properly. The problem is remembering which assets need maintenance, sanitization, etc.

This may be difficult, and asset failures are a no-no in an emergency. In addition, the asset tracking solution reminds staff of required maintenance. RFID, NFC, and IoT technologies may be utilized to track assets accurately.

  • Reduced Asset Loss

Manual asset data input may propagate misinformation, resulting in losses. The Check-in Check-out function allows for exact asset monitoring, indicating who owns what, where, and when it is due back.

The technology reduces asset loss and improves dependability. This simplifies the procedure and allows users to contribute all relevant asset information, such as images, videos, and documents, for speedier identification.

Conclusion

The healthcare asset management market is predicted to grow from USD 6.89 billion in 2017 to USD 35.19 billion in 2023, at a 31.4 percent CAGR. The analysis uses 2017 as the base year and forecasts from 2018 through 2023.”

Yes, much progress has been achieved. A hospital may have large unutilized stockpiles of drugs. Asset management software detects objects that can be moved or sold if not needed, and asset management software discovers and helps sell or dispose of unwanted things. The epidemic should be fought by providing hospitals, labs, and research departments with fail-proof technology that will assist them in battling the pandemic. One of them is the asset tracking solution. This system may help manage assets and inventories and enhance customer service.

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Serialization For Warehouse Management :Steps And Benefits

on April 01, 2022

 

Warehouse management systems allow companies to keep track of their inventory and improve the efficiency of their supply chain. However, with serialization implementation,  the system has a serial number assigned to each product they store, allowing them to know exactly where the product is located in their warehouse. If there are issues with products being damaged or misplaced, it can easily be tracked down.

What is Serialization for Warehouse management?

Serialization in warehouse management ensures that all products have a unique ID and that no duplicate IDs exist within the system, so that you never have to worry about your stock going missing or getting damaged. Mostly good inventory software companies are providing the given blow measures to take control of your warehouse under the umbrella of serialization.

 

  • Inventory with two entries

Most of the big software companies are providing unique double-entry inventory management system ensures complete traceability from supplier to customer. Nothing is misplaced; everything is relocated.

  • Using the barcode scanner on your mobile device

We are scanning merchandise in your warehouse. Wherever you are, you can access your dashboards and track orders.

  • Posted transactions have been corrected.

The new lock/unlock button allows you to update any transaction (picking, manufacturing order) after submitting it.

  • User Interface in the Modern Era

A modern inventory management user interfaces with a fast user interface. With or without barcode scanners, get more work done with less effort.

  • Flexible

Activate features to manage a single inventory or a complicated multi-warehouse system.

  • Orders for Delivery (Basic Operations)

With or without barcode scanners, pack orders and deliver. Mostly reputed firms create delivery orders for you based on your preferences and availability.

Below are more steps to make your warehouse management system more effective.

Steps to Make Warehouse House Management System More Effective?

Inventory Revisions

Make an inventory for a zone, a specific product, a lot, or a pallet/box, and Mostly reputed firms will calculate cycle counts for you.

Various Locations

To structure your warehouse, employ hierarchical locations such as zones, rows, and shelves.

Stock In and Out Control

Control arriving products and compare them to what the supplier ordered. You can pack products with a single click and assign barcodes to packs for convenient order tracking.

Drop-shipping using Advanced Routing

Based on products, orders, or customers, deliver directly from your provider to customers.

Cross-Docking

With little to no storage in between, unload incoming goods and move them immediately to outbound gates.

Techniques for storing and removing items

Define your storage and removal methods, such as FIFO, nearest available zone, life, and so on.

Choose, pack, and ship.

Create your order workflow. We can serve customers in one step (delivery order) or multiple steps (picking, packaging, and shipping).

Routes that are both push and pull

To automate orders between warehouses or locations, create your product routes.

Serialization in Multi-Warehouses

Using the same system, you can manage all of your warehouses and establish replenishment policies for each one.

Scanners for Productivity Barcodes

The unified UI is very nice. Barcode scanners should be used for all inventory operations, including inventories, inbound shipments, packing orders, and so forth.

Only use the scanner to scan the products and confirm their receipt or shipment (no keyboard needed). EAN13 and EAN14 are supported.

Customer Service Portal

Your customers can check the status of their orders on the customer portal, including orders, invoices, and delivery order status.

Custom Alerts Define alerts on items or suppliers that should appear when a salesperson is preparing a quote.

Smart Scheduling Software

Based on product availability and order projections, Mostly reputed firms’ schedulers will automatically activate all activities for you.

Serialized vs. Non-Serialized

It would help if you used serialized or non-serialized models for all physical inventory items you want to track in your system or  want Serialization For Warehouse Management.

Each with its unique barcode, individual serial units are used in serialized inventory models, and individually bar-coded units are not included in non-serialized inventory models.

Here is no correct or incorrect method for classifying inventory models as serialized or non-serialized. It’s totally up to you and your company’s operations to decide which items should be serialized and which should be non-serialized. The rules provided here are intended to serve as examples of how each type of item functions in Flex.

Serialization Models For Warehouse Management

Serialized Model Example

A loudspeaker is a nice example of a serialized inventory model. If you establish a serialized inventory model for an EAW loudspeaker in your system, you’ll see a tab labelled “Serial Numbers” on the inventory model page:

Each EAW loudspeaker in your warehouse is assigned a serial number and a unique barcode. When you send any of these loudspeakers out on a job, you’ll scan the unique barcode on each one, allowing you to keep track of where each one is at all times.

Non-Serialized Model Example

An XLR audio signal cable is a nice example of a non-serialized type. You won’t see a “Serial Numbers” tab on the inventory model page if you build a non-serialized inventory model for a 10-foot XLR cable in your Flex system. We will create one barcode, and one will govern every wire in your inventory.

The Qty. tab displays the total number of items in each location. The first figure (On-Hand) represents the current amount in your warehouse, while the second (Allocated) represents the overall amount you own. By pressing the Modify QUANTITIES button at the bottom of the screen, you can change the quantity of a non-serialized model.

Benefits of Serialization For Warehouse Management

Serialized inventory monitoring is beneficial for a variety of reasons. Let’s look at some of the circumstances when this method yields the best results.

  • Warranty and Guarantees

Serialized inventory or serialization For warehouse management  is crucial if you sell products with guarantees and warranties.

Each product is granted a unique serial number that allows you to track when it is sold. Because you’ll know when we purchased the product, warranty repairs and faults will be easier to trace. Because warranties and guarantees are time-sensitive, serialized inventory helps you immediately determine whether the product is still under warranty.

  • Ownership Proof

Serial numbers are an excellent way to establish ownership in the event of theft, loss, or other problems.

VINs are unique identifiers for automobiles. Serial numbers, for example, are used to monitor firearms. The serial numbers simplify identifying a specific item if it is lost or stolen.

Serialization in inventory tracking provides one more layer of security for the owner if there’s a loss or problem.

  • Quality Assurance

When it comes to issues like quality control, serialized inventory monitoring can make things easier.

No matter how careful you are, you will make mistakes. You may end up with a batch of products that all have the same defect. Perhaps a component was defective. Perhaps there was a problem with the machining. Whatever the reason, you’ll need to be able to retrieve those things quickly, so they don’t end up being dispatched to customers.

This is made easy by serial numbers. You can keep track of individual goods, batches, and so forth. It will be easy to identify products that have quality control issues.

  • Recalls of Products

These same serial numbers will make processing a product recall easier if defective items make it out into the world. Rather than initiating a blanket recall, you can concentrate on products that fall into the defective category.

We can see this in action with automobiles.

When a manufacturer issues a recall, having the VINs of impacted vehicles makes it easier to contact owners, schedule repairs, and manage all of the recall’s other crucial components.

  • When Oversight or Compliance with Governmental Requirements are required

To comply with governmental or other regulatory standards, you may be obliged to produce unique serial numbers for tracking products.

This is especially true when it comes to weaponry and medicine. Each firearm must carry a serial number so that if it is used in a crime, stolen, or lost, it may be traced back to its original owner.

Serial numbers are required for medical products in the event of a recall or a problem with the item after it has been acquired.

Serialized inventory numbers make it easier to trace the goods once it leaves your warehouse and is delivered to the owner in each of these circumstances.

  • When Should Serial Numbers Be Used?

You’re probably asking when you should employ serialized inventory tracking at this stage.

Taking things on a case-by-case basis is the best way. Serialization in inventory tracking adds a few extra steps to your inventory management systems, as well as some extra costs. Beyond that, it isn’t required for a wide range of products.

When dealing with high-value products, companies profit from employing serial numbers for tracking in the fullest sense. Unique serial numbers are beneficial to cellphones, laptops and tablets, game consoles, guns, and other items of a similar sort.

Serialized inventory management systems will make your life easier if you sell these products or products that you may need to track for warranty and recall purposes or products subject to governmental or regulatory oversight.

There is no one-size-fits-all list of situations where serial numbers can help your company. The ideal way is to assess each of the products you sell individually, taking into account its value as well as the other factors we’ve discussed and making a decision for each one.

  • Selecting the Most Appropriate Software Package

It’s critical to select the appropriate software for the job. Because there are so many platforms and packages to choose from, researching what they do and what features they offer is a smart place to start. Look at how they handle serial number tracking and, if possible, request a demo. The majority of goods provide video demonstrations of their key features.

If you want to leverage mobile technology, ensure that the platform you choose can handle the task.

  • Greater visibility and more compact groupings

Having all of your goods visible and well organized pays off big time. Groupings are easier to achieve and more effective for forecasting and overall management when serial numbers are tracked. It is possible to achieve everything from connecting comparable goods to the behaviour of specific inventory groupings.

  • Understanding the Personality of Your inventory

You could say that serial numbering aids in identifying your inventory’s personality. As if it was a name badge, with the most crucial information on the bottom. The more information you have about your inventory, the better you’ll be able to plan and make modifications to make the most of it.

  • History that is complete and accurate

Serial numbers make it simple to learn about a part’s or products whole history. This is a huge benefit for any company that uses previous data for forecasting or implementing product recalls. According to leading inventory management software suppliers, this is a simple and user-friendly task.

  • Errors in data entry are reduced.

One of the most effective strategies to reduce data entry and errors is to track serial numbers. Every transfer, sale, or order is more accurate and better regulated now that each product or item is numbered. The combination of mobile and barcode technologies optimizes serial number usage, which is especially beneficial for manufacturing companies or those with a wide variety of inventory.

  • Warehouse management that is efficient and streamlined

In a business’s warehouse, there’s generally a lot going on. Even tiny firms face challenges; thus, new systems always seek to improve operations’ efficiency and effectiveness. Serialization in inventory tracking is one of the most effective ways to eliminate errors and boost efficiency.

  • Processed Goods

Serial number tracking is a critical tool for manufacturing companies. From the beginning to the end of the manufacturing process, it enables accurate tracking, transportation, and order. It permits the implementation of techniques such as Just-In-Time manufacturing, which relies on the ability to move or order production-related products at precisely the correct time.

  • Processes that follow the sale

Another significant benefit is the processes and actions that occur following the transaction. If a part is defective or a product is returned, the relevant information is quickly accessible, accurate, and full.

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How to Start Selling On Ebay| Beginner Guide

on March 31, 2022

 

eBay is the place to go if you want to sell stuff. If you have products that are no longer needed or wanted, just let eBay know about it and they will put them in the hands of people who can use them. They also have a large selection of marketplaces for electronics, clothing, hardware, and much more.

While eBay started as an auction-based marketplace for secondhand products and collectibles, it has gradually evolved into a fixed-price marketplace. It’s also a terrific location to sell brand-new items.

Indeed, fixed-price or “Buy It Now” ads account for 90% of eBay’s Gross Merchandise Volume (GMV), illustrating its tremendous transition away from its auction market beginnings.

The beauty of eBay is the universe of possibilities available to sellers: you may post products at set or auction pricing, use your own product photographs, add your own descriptions, and sell (almost) anything.

Should you lose your items on eBay?

Anyone may quickly create a seller account and begin selling on eBay, which is most likely why there are around 17 million eBay sellers!It’s very simple to get started as an eBay seller. You may establish an account, list a product, and sell it on the same day.If you have outdated items lying around the house, selling them on eBay may be a simple way to get rid of them while generating some money.

Your amount of success on eBay is entirely up to you; what began as a decluttering project might easily evolve into a constant side hustle or perhaps totally replace your existing income. If you currently sell on Amazon, you should be aware of the following important differences between selling on Amazon and eBay:

  • Instead of fighting for the Buy Box on a single listing for a popular product, each eBay seller may design their own unique listing.
  • eBay provides merchants with more extensive listing optimization than Amazon does.

Step 1: The Fundamentals Of eBay selling

Selling on eBay is straightforward: the seller posts the item, the client purchases it, and the order is completed. We’ll go through what this all implies in general in this stage.

The beauty of selling on eBay is that you can start small. Look around your house for anything that is accumulating dust—everyone has outdated gadgets, books, or toys collecting dust. Product sourcing involves almost little upfront expenditure.

After selling unwanted goods from their homes, eBay entrepreneurs are often bitten by the e-commerce bug and want to launch full-fledged eCommerce enterprises.

Learning the fundamentals of what to sell on eBay early on may help turn a new eBay business into a reliable additional revenue stream or perhaps a major source of income.

Are you still persuaded that you need to launch an eBay business? If not, let’s go through some of eBay’s most frequent business models (i.e., what to sell).

eBay is well-known for being one of the finest locations to find odd stuff. It has since developed, and 79 percent of all things sold on eBay’s 1.5 billion current active listings are brand-new stuff.

Step 2: How to create an eBay Seller Account

  1. Signing up to sell on eBay is a simple procedure. Your company might be up and operating in an hour!
  2. Go to the Create an Account page and fill out the required sections with your name and email address. After that, you’ll establish a password for your account.
  3. After clicking “Create an account,” you’ll be sent to the eBay site to be logged in to your new account. EBay will generate a username for you, but you may alter it under the “My eBay” area by clicking on “Account,” then “Personal Info.”
  4. Add your bank account before creating listings, so you know where the money from your product sales will go.

Include a payment method.

By adding your checking account, you will be able to collect payment from client purchases on your desired payout schedule.

  1. Find the “My eBay” dropdown menu in the top right corner of the eBay main page and select “Selling.”
  2. Then, choose “Account.”
  3. You’ll find “Payment choices” under “Payments.” Fill in the details for the bank account where you want to receive money from eBay sales.
  4. Please keep in mind that eBay sellers were previously compensated using PayPal.
  5. On the other hand, eBay has declared that it will no longer accept PayPal as a payment method by the end of 2020. Instead, eBay adopted its own payment method, Managed Payments, which transfers funds directly to sellers’ bank accounts.
  6. eBay automatically deducts the selling fees from your sales revenues when you use Managed Payments before the distribution.
  7. Step three: Begin selling! It’s that simple—you’re now ready to post your products for sale on eBay.

Step 3: Conduct Product Research

On eBay, you can sell almost anything. You may already have an idea of what to offer or want some inspiration, whether you’re rummaging through your own garage for odds and ends or fantasizing about selling private-label goods. You’ll need to conduct some product research to determine which things are lucrative and at what pricing.

You should not sell just anything on eBay. If you truly want to be successful, you must first assess your product ideas for profitability, demand, and competition before listing them. You’ll be able to assure a return on your investment this way.

We’ll go through lucrative product concepts, how eBay fees affect profitability, how to assess demand and other product research requirements in this stage.

Step 4: Where can I get things to sell on eBay?

With so many various business models to select from, sourcing things for eBay may differ from sourcing products for Amazon.

Alibaba is a great place to find things from China.

Selling your own brand or private label product is a tried and true way to succeed on Amazon, and it also provides an excellent chance on eBay.

The private label strategy has the following advantages:

  • You may build your own brand and product.
  • High-quality pictures and a compelling description may help you stand out from the crowd.
  • You can save money by getting your items from sources outside the United States.

Check out our new How to Sell on Amazon guide for an in-depth explanation on establishing and sourcing a private label product.

Locate things to resale at retail stores.

A traditional eBay business plan is purchasing and reselling things from Walmart, Target, or your local grocery shop. Retail arbitrage may be profitable if you are consistent and know what to search for.

Product research for retail arbitrage is simple—you can do it while you’re out shopping.

  • Look for items in the clearance section, toy aisles, and electronics department—these sell well on eBay and can have significant profit margins depending on demand (more on this below).
  • Scan barcodes using your phone’s eBay app to identify which goods have high sell-through percentages.
  • To analyze the profitability of proposed items, use the Salecalc tool indicated in Step 3. Remember that you may charge clients for shipping to increase your profit margin.

Step 5: Listing and shipping your things

You can post goods on eBay in minutes—even on your phone. This also simplifies submitting product images since you can just choose them from your camera roll.

Using the skateboard as an example, I’ll demonstrate how to list an item using the eBay app.

How to List Your Products on eBay

Click on the first listing in the “Sold Item”-filtered search results.

Select “Sell One Like This.”

This takes you to the Listing Summary page. Essentially, you will have made a copy of the successful listing to utilize for your goods. Although eBay will auto-populate much of the product information, you should still double-check your listing to ensure it is as comprehensive as possible. Because the product has been used, ensure that its condition is appropriately reported.

I recommend that you change the title and description to don’t replicate the other seller word for word. Include any relevant keywords that clients are likely to search for while looking for your goods.

You need to measure and input your own weight and measurements for correct delivery charges.

Do not use another seller’s photographs—replace any copied images with yours. Take your product shots in decent lighting and catch every angle—customers will want to check the item thoroughly.

You will be able to pick between “Auction” and “Buy It Now” prices. “Buy It Now” is typically the best approach to lock in your desired price for most things. Accepting consumer proposals on your goods is an option if you’re ready to go lower.

Final Thought

Now that you understand the fundamentals of sourcing and selling things on eBay.

You are not required to visit all of the product-seeking stores. Do some internet study at home first, so you know what to look for in-store.

You may utilize a website called brickseek.com to find local and online goods offers that you can use with eBay. You can search Brick Seek by zip code, even down to particular shop inventory—just keep in mind that it isn’t always 100 percent accurate.

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AdminWhat is Manufacturing accounting software ? Elaboration

Why Should Inventory Management System Be Integrated With CRM Software?

on March 30, 2022

Is your company using two different systems to keep inventory and client information? Is it getting increasingly difficult for your team to have real-time access to crucial inventory data? Are your billing and status orders being delayed due to inaccurate inventory data? Do you lose essential consumers as a result of poor customer service?

Then it’s time to integrate the inventory management system with the CRM software you already have. Previously, businesses utilized two different methods to manage inventory and CRM software.

Essentially, an inventory management system is limited to managing critical back-end business operations such as billing and shipping details, purchase history, accounting information, financial data, and supply chain management details. In contrast, CRM software is concerned with recording customer details and interactions, tracking sales, managing the sales pipeline, and creating marketing materials.

Organizations with efficient resources can effectively manage the two disparate systems. However, combining an inventory management system with a CRM solution has proven beneficial for businesses in streamlining numerous corporate procedures and increasing bottom-line efficiency.

There are a few more reasons why companies should connect their inventory management system to their CRM solution:

  • Provides a 360-degree view of the customer

Customers are essential for businesses to function, and customers are a company’s most valuable asset. How effectively do you understand your clients’ needs? Do you know your clients’ birthdays and other significant events in their lives?

Integrating your inventory management system with CRM software will give your company a complete 360-degree perspective of your customers. Initial customer contacts, current customer tastes, needs, interests, preferences, buying patterns, purchase history, spending habits, demographics, age, gender, average income, profession, a company of employment, likes and dislikes, order history, billing processes, payment details, status orders, and so on can all be collected using a 360-degree customer view.

“Data is the powerhouse,” as everyone knows. With total visibility into your customers’ journey, your organization will be able to deliver superior customer insights, create long-term customer connections, provide high-quality customer support, and track and monitor changes in consumer tastes, preferences, and expectations, among other things.

  • Have quick and easy access to critical customer data

Thanks to a fully integrated CRM solution with the inventory management system, your staff will have real-time access to vital customer information. For example, suppose a consumer calls your call center with a simple question about the status of an order. In that case, your call center agent does not need to waste time checking other systems or asking other employees.

Your customer service team can effectively use the solutions of an integrated CRM system with inventory management software to have instant access to crucial customer information and information on inventory levels, shipments, order history, customer financials, returns, payments, pricing, and so on.

  • Streamlines a variety of business processes and reduces data entry errors

Firms used to manually handle the various time-consuming business procedures when there wasn’t an integrated solution. Organizations can now increase their productivity by reducing multiple business activities and automating the workflow with the help of an integrated solution.

Furthermore, an integrated solution reduces duplicate material by automatically updating the CRM system with real-time inventory information. As a result, the time-consuming data entry task is accessible, and errors are reduced. Everyone on the team will have direct access to real-time inventory data with updated content. For example, it will reflect any changes made to the inventory database in other systems, such as CRM and vice versa.

Today, any company that thoroughly understands the many stages of a customer’s journey must combine its inventory management system with CRM software.

Furthermore, an integrated solution facilitates cooperation across diverse internal teams, streamlines information, and puts the entire group together on the same page. So, what exactly are you waiting for? Integrate your inventory management system and CRM into a single solution for faster business operations and higher customer satisfaction.

CRM software’s core feature

Artificial intelligence (AI), the Internet of Things (IoT), chatbots, and virtual assistants have dominated the hype cycle around customer relationship management (CRM) software recently. While these are fascinating advances, it is essential to remember that any company wishing to use CRM must first master the deployment of “Core CRM” before adding more complex features and apps.

So, what exactly are “Core CRM” features? Core CRM represents the technical building blocks of your customer engagement approach. Core CRM is the foundation for obtaining and maintaining customer data and main customer activities such as lead conversion, sales cycle management, and issue resolution.

Marketing, sales, and customer service are just a few sectors that use core CRM. However, focusing on customer success, a clever Core CRM strategy breaks down divisions and connects these departments.

In a series of three blog posts, we’ll go over the main components of Core CRM and examine their importance and functions. Our primary focus areas are sales automation, lead management, customer service, and support.

Let’s start with the fundamentals of Sales Automation…

Sales Automation

Sales Automation is a term that refers to technology that is aimed at improving the management of revenue generated by salespeople. (This is in contrast to e-commerce, which allows customers to buy directly from a website or mobile device.)

Because most finished deals are maintained by the sales team and are often more complex and lengthy than, for example, a simple transaction a customer makes at a retail store, sales automation is frequently used by B2B companies or in scenarios with the complex sales cycle.

The following are some of the critical characteristics of the primary pillars of sales automation technology:

Management of Client Accounts

A client, or “account,” is at the heart of most businesses. When a CRM is used to centralize account information, it allows more employees in the firm to have access to critical data and provide context around purchase history and customer preferences when communicating with customers. Accounts, in a nutshell, are the “center” of a customer-centric strategy and a critical component of Core CRM.

CRM Software with ERP Gold Integration

ERP Gold offers the best integration with CRM software. It has all the functionalities to sync data between one another which makes it an integrated system.

“The customer is always right,” as everyone knows. However, there are two significant issues with this piece of advice for many businesses: They have no idea who their customers are, and they may not have a strong sense of what they want or believe. CRM (Customer Relationship Management) solutions allow businesses to stay in touch with customers and keep them engaged increasing income.

These technologies, which began as glorified digital Rolodexes, have evolved to include highly complicated sales forecasting, customer service, and marketing management features.

They also connect to Enterprise Resource Planning (ERP) software, giving everyone in the company a complete picture of the client at any given time. With that in mind, here are seven advantages of adopting CRM, mainly when it’s linked to ERP Gold:

Ending Thought

We’ve worked with several companies on CRM implementations, both on a stand-alone basis and as part of a more extensive ERP system.

CRM software has been around for at least 25 years, and many companies have implemented a basic version to support sales, marketing, and service functions. ERP Gold is providing upscale CRM and ERP features so that the whole business, organization or a company is in your fist. Visit our CRM page to learn more about CRM and see a demo. Thanks

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Serialization For Inventory Tracking And Its Main Reason!

on March 29, 2022

 

What is serialization?

Serialization in inventory tracking is a method of identifying an article with a mark or code that identifies its unique identification. The serial number is usually a combination of numbers, letters and special characters. When you are ordering the item from the warehouse, the serial number will be used to identify the exact product you want.

One of the most important aspects of running a successful warehouse is inventory management is putting barcodes on the items. You risk losing inventory, customers, and profit as well if you don’t know what’s on hand, what’s sold, and what’s sent.

Inventory management issues might bring your company to its knees. Today, we’ll discuss serialized inventory monitoring and how it can help you to improve your inventory management.

Inventory control is an important point for a company’s success. Serialized inventory management is a sophisticated technique for tracking inventories down to the smallest detail.

This article will define serialized inventory management, explain why it is crucial for inventory management, and demonstrate how to implement it.

Serialization in Inventory Tracking

What is Inventory Serialization, and how does it work?

Serialization of inventory is a procedure that allows you to track individual units of stock using serial numbers. Goods management requires that you keep track of your list.

Regardless of the sort of inventory handled by the company, a strong tracking system is essential. Firms that deal with an extensive list must be extremely cautious with their inventory. For inventory management purposes, the serialized inventory management system assists the company in keeping a rigorous track of each product.

An expensive inventory that requires frequent maintenance and servicing, or covered by a guarantee, must be thoroughly checked and tracked. Serialization in inventory tracking of such products in inventory management aids in the tracking of each item from start to finish.

What are the main reasons why inventory serialization is so important?

Let us now concentrate on the significance of serialized inventory management:

  • Quality Control: Serialization in inventory tracking aids in maintaining quality in manufacturing and assembly processes. We can use individual item serialization related to the batch to trace each batch of the production run. Serialization makes it simple to identify a product and determine the manufacture date or packed date, making it easier for the retailer to handle the quality control process.
  • Traceability: Serialization makes it simple to track down a product and determine which production or assembly batch it belongs to, as well as have all relevant information readily available.
  • Warranties: If your product comes with a warranty, you should invest in inventory management serialization. Serialized objects can be easily traced back to the batch and manufacture date, making warranty and inventory management a breeze.
  • Verify Product Ownership: Serialized objects can be distinguished from counterfeits, and we can track product owners easily.
  • Product Recall: If a product problem is discovered late in the sales cycle, you can identify all goods from that batch and recall and validate them using the serial number linked with the item.

What is the best way to serialize inventory?

  • To serialize inventory, each item is given a unique number that allows it to be distinguished from the rest of your stock. Because this serial number is unique among items, it can determine the product type and batch to which this item belongs.
  • Serialized objects have two identifiers: the SKU, which specifies the item’s type, and a unique serial number, which identifies each particular item in the inventory.

While this can be done manually or with an excel sheet, cloud-based inventory management with inventory serialization is a better option.

What Is The Best Way To Manage Serialized Inventory?

When you receive new goods, make a note of the batch number and, if applicable, the expiration date. The next step is to assign each object a unique serial number. Please make sure the serial number is written on the product to track it. For this, you can use barcode labels or basic sticker labels.

You must keep track of which serial numbers have been removed when shipping out inventory. Keep a record of the serial number of the item sent out to accomplish this.

Take an inventory count regularly by checking serial numbers and comparing the data to the serial number list in your records. This is required to check for leaks and theft.

Ending Thought

The benefits of Serialization in inventory tracking are numerous and obvious. Any business must know exactly where its products are, who has them, and what they do. By tracking serial numbers, a business can make adjustments to inventory management processes and avoid past mistakes.

 

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