Inventory serialization aims to ensure each product has a unique identifier and that there are no duplicate IDs in your system, giving you peace of mind from missing or damaged goods. Most reliable inventory software providers provide steps listed below in order to take full control over serialized warehouse operations.
Reliable Inventory Software Steps
- Two Items Found In Your Inventory
Most large software businesses provide an unprecedented double-entry inventory management system that ensures total traceability from supplier to consumer, offering complete peace of mind that nothing has been misplaced or left behind. Everything has been moved; nothing has been lost.
- Utilizing Your Mobile Device's Barcode Scanner
Use a barcode scanner to scan the goods in the warehouse to track orders and view your dashboards from any location.
- Transactions That Had Previously Been Posted Have Been Updated
Thanks to the new lock/unlock button, any transaction (picking, manufacturing order) submitted can now be edited after being submitted.
- Modern Era User Interfaces
Modern inventory management systems feature intuitive user interfaces designed for ease of use. You'll get more done in less time whether or not barcode scanners are being utilized.
- Flexible
Bring on functions to manage both a simple inventory and an intricate multi-warehouse system.
- Order Delivery (Basic Operations)
Reputable businesses provide order delivery based on your preferences and availability; no barcode scanner is required.
Serial & Lot/Batch Tracking In ERP
Selecting an ERP system with serialization, lot tracking, or batch tracking functionality is essential for industries requiring these functions. Product traceability across the supply chain is ensured through serialization and lot-tracking capabilities that abide by industry norms and laws.
Serial and lot tracking capabilities enable your business to monitor individual units or batches from their place of origin all the way to their final client, helping your company mitigate recall effects, address quality-related concerns quickly, preserve integrity of products and build customer trust while upholding rigorous safety standards. Gaining total control over product movement helps your company build consumer loyalty while upholding safety regulations at every turn.
Will Serialization Data Overwhelm ERP?
Serialization requires each salable unit to have an individual identification number, in contrast to lot-level tracking where hundreds or thousands of units may be tracked using one batch number. Serialization trumps lot-level compliance both in terms of complexity and storage needs - even though certain Enterprise resource planning systems include at least minimal compliance features.
Businesses establishing their serial number repository quickly discover that verifying saleable returns independently becomes difficult due to a rapidly accumulating list of unit-level serial numbers and EPCIS event data. Over time, standard ERP systems will begin slowing corporate operations due to data and performance limitations.
How Much Would ERP Customization Actually Cost?
ERP system adaptation to manage serialization can only provide temporary relief; its adaptation will ultimately come with costs to comply with changing regulations, separate point-to-point connections with different providers and more frequent software upgrades compared to dedicated serialization solutions built on cloud platforms that offer more reliable functionality and seamless upgrades compared to ERP packages of any vintage.
Serialization's Advantages For Inventory Management
Serialized inventory tracking provides many advantages. Let's examine some situations where this approach works well.
Warranties And Guarantees
If your business offers warranties or guarantees on its products, warehouse management is key to its success. Serialized inventory allows for easier tracking of sales. Being aware of when we purchased it makes tracking warranty repairs or defects much simpler; given their temporality, rapid determination is the hallmark of service warranties and guarantees.
Proof Of Ownership
A great way to provide evidence of ownership should theft, loss, or any other issue arise with serial numbers. Cars can be easily identified using VINs; serial numbers help track weapons. Should an object become lost or stolen, having its serial number can make identifying it much simpler. Serialization can offer additional protection in case of theft or loss, giving owners added peace of mind in case something goes amiss.
Quality Assurance
Serialized inventory tracking can assist with problems related to quality control. No matter how diligent your approach is, mistakes will still arise. A batch of your products could contain identical issues - perhaps there was a component with defects or an issue during manufacturing that requires attention; whatever it may be, fast action must be taken in order to recover these items before being shipped out to customers.
Serial numbers make things simpler here. You can monitor individual products, lots or all at once; finding products with quality issues will be straightforward.
Recall Of Products
Should any defective goods enter the public market, using their serial numbers will make initiating a recall easier and allow you to focus on only those items fitting within their defective category rather than issuing a broad recall notice.
Automobiles provide us with an example of this phenomenon in action. When manufacturers initiate recalls, managing all of the essential recall components - scheduling repairs and notifying owners - becomes much simpler using VIN numbers of affected vehicles as reference points.
When Oversight Or Compliance With Legal Obligations Is Essential
In order to comply with legal or other regulatory requirements, you may be required to generate distinct product serial numbers.
This is especially important with weapons and medication; every firearm requires its owner's serial number so it can be returned in case it is lost, stolen, or used illegally.
Medical products requiring serialized inventory numbers require them in case of recalls or issues post purchase. This makes tracking the goods simpler once they have left your warehouse and reached their owners.
Does It Appropriately Utilize Serial Numbers?
Most likely, you are wondering whether now is an opportune time to implement serialized inventory tracking. At its core, inventory tracking requires serialization; therefore, your inventory management systems will incur additional expenses and extra steps due to serialization. On the other hand, many products don't necessitate such tracking at all.
Businesses benefit greatly from using serial numbers as a comprehensive tracking mechanism when dealing with expensive goods such as guns, gaming consoles, laptops, tablets and telephones. Each item requires its serial number for full tracking.
If your business sells certain products that require warranty and recall tracking or are subject to government regulation, serialized inventory management solutions can make your life easier. There is no definitive list of circumstances under which serial numbers could help your business. Therefore, the best strategy would be to carefully consider each product you sell individually in terms of value as well as all aspects we've discussed and then make your selection accordingly.
Selecting An Appropriate Software Package
Selecting the proper software for any task is of vital importance, especially with so many platforms and packages out there. Start by studying their functions and capabilities; evaluate their approach to tracking serial numbers; if possible, request a demo; most products offer videos that showcase key aspects. Ensure the platform you select can handle the task at hand if you wish to utilize mobile technology.
Improved Clarity And Decrease Cluster Sizes
Maintaining orderly operations pays dividends. Tracking serial numbers helps groupings be easier to achieve, which in turn facilitates forecasting and general administration tasks like linking similar products or actions of inventory groups.
Recognizing The Characteristics Of Your Inventory
Serial numbering provides you with the tools to determine the individuality of each inventory item in your stockpile, like an identity badge with all of its key details at its base. Knowing more about your inventory makes planning and making adjustments to maximize its potential much simpler.
An Accurate And Thorough History
Serial numbers make uncovering the complete history of products or parts easier, providing businesses with an invaluable asset when forecasting or executing product recalls based on historical data. Leading providers of inventory management software claim this process is straightforward.
Errors During Data Entry Have Decreased
Tracking serial numbers is one of the best ways to reduce data entry errors. By assigning each product or item a number, every transfer, sale and order becomes more precise and controlled. Mobile and barcode technologies work together seamlessly to maximize serial number utilization, making this strategy particularly beneficial for businesses that specialize in manufacturing goods or possess diverse inventories.
Efficient Warehouse Management
Warehouses of businesses typically involve many processes and interactions that take place. Even smaller firms face unique difficulties, so new solutions must be constantly devised in order to increase the effectiveness and efficiency of operations. Serialization has long been considered one of the best techniques for inventory monitoring that reduces errors while increasing productivity.
Finished Products
Manufacturers understand the importance of tracking serial numbers as an essential tool in manufacturing processes, facilitating accurate tracking, shipping and order fulfillment throughout. Tracking serial numbers also facilitates JIT manufacturing - where production products arrive exactly when needed for production - making possible processes like just-in-time manufacturing (JIT).
Procedures After The Sale
Following each transaction is also of great advantage; all information necessary for returning or exchanging products or parts will be complete, accurate and readily available should there be any discrepancies.
Also Read: Unleashing the Power of ERP: How Distributors and Manufacturers Can Gain a Competitive Edge
How Arion ERP May Reduce Risks And Assist In Managing Uncertainties
Risk and business have never been close companions. Even though many businesses utilize calculated risks to expand into new areas and make millions, they still strive to limit it as it could result in decreased revenues, brand damage or broken collaborations. Therefore, businesses should limit risks and control ambiguity; using ERP technologies might be one way of doing this - most ERPs contain features that help effectively reduce risks and manage uncertainty for your company. Here are seven strategies on how Arion ERP can reduce risks and manage uncertainty for your company.
Utilization Of Demand-Driven MRP
Reliability in supply chains is of utmost importance, so consider switching to material requirement planning (MRP) driven by demand instead of standard MRP. Need-driven MRP differs from standard MRP in that it tracks material needs and allows real-time adjustments, while standard MRP can only forecast supply and demand, potentially creating disparities between supply and demand that need to be addressed by standard MRP forecasting alone.
Automating Manual Jobs And Reorders
Human error is one of the primary sources of business risk, so automation can reduce human dependency in performing repetitive tasks thereby decreasing human errors. By employing an ERP system you can automate many aspects of your company operations such as supply chain, inventory control, sales administration, order processing and order administration - and reduce human errors as a result.
Distributing Supply Buffers Among Partners
By sharing supply chain data with partners, you may reduce its effect on operations and enhance supply chain management. Enterprise resource planning solutions will enhance communication among business partners as well as connecting the various departments within your company; helping ensure appropriate stock levels.
Enhance The Compliance Management Of Your Company
Your company could be at serious risk from compliance infractions if it operates in a highly-regulated industry, especially if they rely on procedures and supplies that comply with legal requirements. Arion's Enterprise resource planning software can reduce this risk by monitoring procedures and supplies in real time to ensure they adhere to legal compliance; additionally you have alert settings available should any instances of noncompliance arise.
Enhancing Decision-Making Using One Single Data Source
Decisions based on incomplete information can increase business risks. Robust ERP systems aggregate corporate data to facilitate improved decision-making, helping reduce business risks in turn.
Increase Risk Management Using Predictive Analytics
Your company can use business intelligence and predictive analytics apps to increase forecasting and risk management now that all the data has been centralized in one location. Predictive analysis is an invaluable asset of corporate intelligence, which assists with decision-making processes.
Maintain A Closer Watch Over Vendors
ERP can help your company mitigate risk and manage uncertainty by improving your understanding of the supply chain and potential disruptions to it. With smooth methods for communicating and negotiating with suppliers, Arion ERP helps mitigate risk while offering thorough evaluations of supplier performance to enhance risk prediction and optimization - becoming aware of fluctuations and manufacturing schedules with greater ease.
Conclusion
Every business will inevitably include risk. Arion ERP software can assist businesses in mitigating those risks through improved partner coordination, automated procedures, compliance management and deeper insight. Even though many companies fail to utilize their Arion ERP systems fully in order to reduce risks effectively and boost corporate productivity, their implementation should do just that.
