How does barcode inventory in QuickBooks work?
How does a barcode inventory system work?
Before implementing a QuickBooks Barcode Inventory system, it’s important to determine whether it’s right for your business. If you manage any type of physical inventory, you’ll likely benefit from this system.
You store inventory in a warehouse: Managing hundreds or even thousands of items in a warehouse can be daunting without a system to track them.
Your vendors or retailers require barcodes: Even if you can manage without a barcode inventory system, the vendors or retailers you work with will require barcodes for the items they purchase from you.
To better understand how barcode systems work, let’s consider an example.
Say you’re an eCommerce clothing retailer. You have hundreds of SKUs and you want to track inventory wherever it goes, whether you’re shipping items across the country or simply moving them around your warehouse. The barcode inventory system reduces the likelihood of products getting lost since they get scanned every time they change locations.
Furthermore, this system enables you to do real-time inventory analysis of items in your warehouse. Instead of scrambling to find the latest inventory report, you can simply log into your computer and see every item you have in stock and where it’s placed.
What are the benefits of a barcode inventory system?
Here are four key advantages that a barcoding system can give your business:
A barcode inventory system significantly reduces the chance of human error when tracking inventory items, which leads to smoother supply chain management.
Real-time inventory data helps you stay ahead of the sales cycle to maximize your profits and keep up with the order management process.
Barcodes are versatile—they can be used to track and organize all sorts of data, such as price and product information within seconds.
Barcode systems make employee training faster and cheaper since they only have to familiarize themselves with the technology instead of the inventory itself.