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.