There are many benefits of QR Code Inventory Management. Are you still utilizing barcodes for inventory management and relying on outdated systems? Do you have a sense that there is a better way and perhaps a more cost effective solution? You’re right. The answer lies in the utilization of QR codes and the right software.
Many people think of QR codes as a marketing tool, but the reality is that QR codes were invented specifically for inventory management. In the early 1990s, Toyota Company and their subsidiary, Denso Wave, invented the code system called Quick Response because they realized their barcode system was running out of capacity. The QR code was created with the ability to hold far greater amounts of information with fast readability. Its initial purpose was for tracking parts and vehicles in the manufacturing process. So, truly, the QR code was designed for this purpose.
With the rise of smartphones and tablets, now, just about everyone has the ability to read a QR code from their mobile device. This allows for inventory management and control in real-time and ensures smoother operations all around.
Everybody knows that time equals money and loss of productivity is one of the greatest expenses any business can face. The minutes and hours pass quickly when an item, part or product cannot be located. Resolving inventory issues can result in a tremendous expenditure of time and loss of money. The utilization of smartphones and mobile devices to run your QR code software cuts down the cost of expensive barcode scanners, as well.
Solutions for tracking down lost inventory, whether it be within your facility or out, recording transactions, checking for product/inventory availability, and the ability to run applicable reports are all possible with the use of QR codes and the accompanying software you implement.
By utilizing outdated methods and inventory systems, you run the risk of generating costs that could be entirely avoidable by implementing new software that utilizes QR codes. Some of these risks include: stockpiling products or materials that are outdated without being tracked, errors from missed documentation, incorrect documentation of parts, products or barcodes, and carrying inadequate stock. These things absolutely can result in a disruption of productivity, potentially costing your business not only money, but can have an impact on your customer satisfaction that also affects your business.
Not only can QR codes be utilized for inventory management, other options exist that can significantly improve processes and operations. QR codes can be designed to work with particular payment provider applications, store bank account and/or credit card information, they can be used to login to websites or portals, and they can store URLs. QR codes placed within the proper locations in a place of business, manufacturing facility or factory can provide your employees with important safety information or instructions right at their fingertips. The opportunities are almost endless and the cost effectiveness is undeniable.
Perhaps your business is ready to implement a software solution that utilizes the benefits of QR codes? Have you already made use of them in some manner?
TRXio’s LiveQR code technology is the industry’s newest, state-of-the-art innovation in inventory management. Giving you detailed information never before possible, from seeing exactly who handled the inventory and knowing exactly when and where the item is along your supply chain. Plus, integrate tracking with geo-location data for individual items, containers, movements to customers, services provided, and much more.
Resource: Learn more about inventory management software solutions for integrators, security installers, electricians and more.