Category Archives: Barcode Equipment

Barcoding In The Construction Industry

Barcodes have been a part of modern life for several decades. Whereas other emergent technologies have come and gone amidst the rapid technological changes in recent years, barcodes have found a way to stand the test of time, at least for the moment. In fact, barcodes have been able to actually increase their usefulness and effectiveness; rather than be replaced; barcodes have adapted right along with technology and proven themselves to be a tool of innovation and creativity. The increasing usefulness and flexibility of barcode technology is proven by the increasing number of industries and contexts that the seemingly simple white and black lines find themselves in. Many companies provide barcode hardware and barcode software rentals to a diverse set of industries.

 

One of these industries that have found a new use for barcodes is the construction industry. At first glance, the construction work is far removed from the pervasive technology of modern life. While actual construction work remains very physical, construction companies are beginning see the financial and organizational benefits of implementing barcodes into their work. The way in which the construction industry is beginning to adopt the use of barcodes is perhaps the most interesting part of the story; rather than barcoding construction equipment (although that has already taken place, to a large degree) the construction industry is beta testing the use of barcodes to represent actual construction workers. Here is a brief look at this very recent development.

 

Washington D.C. Test Run

 

The most recent example of barcoding construction workers occurred in the Washington D.C. area. In the nation’s capital, a third-party company is providing construction workers with individual barcodes and tracking the data associated with the barcodes. While many construction workers and independent observers have been and remain skeptical of the idea of tracking employee performance through barcodes, the company in charge of the process insists that the barcodes simply make it easier for contractors to communicate with subcontractors and ensure that the right number of people are working on specific jobs. In the construction industry, the number of people working on a specific task at a specific job site varies considerably from day to day, and thus having a centralized hub of information about who is where is a potentially valuable tool for project managers.

 

Valuable Data

 

Data about how many different specialists like plumbers and electricians are working at a particular job is valuable beyond a specific job site. Once the most cost-effective way of hiring and deploying workers is determined by the barcodes, an entirely new system of best practices may be developed by the construction industry. While construction workers may be legitimately wary of having their every move tracked by a barcode, the reality is that the barcode technology does not exactly do that and may in fact prove to be beneficial over time for the industry as a whole.

 

Where To Put The Barcodes?

 

individual-barcodes

 

At this point, readers may be wondering exactly where the barcodes are placed in order to track the presence of an individual construction worker at a given job site. The answer may be obvious; the barcode is placed on the hard hats of construction workers. So far, the results of the experiment have been positive. The number of companies using barcode technology has expanded in the past few years, and the efficiency of projects that use the technology has been impressive.

 

Maximizing Time At A Tradeshow

An ever-expanding amount of commerce and business takes place remotely. More and more people and companies conduct their business online, from the convenience of their home or office. To some degree, this limits the value of face-to-face salesmanship that once dominated all aspects of business. Although more businesses than ever before derive a majority of their sales from online shoppers, traditional in-person sales are still relevant. The circumstances under which in-person sales are taking place, though, are changing.

 

For example, while an emerging business is more likely than ever to eschew traditional brick-and-mortar retail sales, trade shows and similar events are thriving. Perhaps this is because there is still a certain percentage of businesses and customers who feel the need to experience a product or service before purchasing it. Trade shows are also much more egalitarian than retail outlets; there are many less gatekeepers and barriers to entry that prevent someone with a good product from physically reaching out to their potential customers.

 

The Right Approach

 

Trade shows are further beneficial for businesses in that they provide a business with a pool of people who are predisposed to taking an interest in the product, as most trade shows are specific to a particular industry. In fact, trade shows are such an effective way of both selling and marketing that many normally aggressive small business owners and operators tend to rest on their laurels a bit in the presence of so much interest. To maximize the business growth potential of a trade show, businesses need to approach a trade show the same way they approach any potential business change or opportunity—with a focus on efficiency. Here are some ways to do so.

 

Planning Ahead

 

tradeshow-leads

 

Planning ahead, with respect to a trade show, means planning ahead in multiple ways. In one sense, planning ahead means planning to maintain effective time management. At the beginning of a trade show, it can seem like there is an endless amount of time and opportunity to achieve sales and marketing outcomes, but that can be a mindset that leads to wasted effort. Perhaps the best way to manage time at a trade show is to first plan ahead with respect to the goals that one has. A business can come into a trade show with quantitative goals, such as number of sales or sales leads generated, or more qualitative goals, such as brand development or honing a presentation or pitch. Each business will have a unique set of desirable outcomes prior to a trade show, but as the adage goes, failing to plan is planning to fail.

 

Managing Expectations

 

How a business plans ahead is just as important as how much time it spends planning. As mentioned previously, a business should develop either quantitative goals, qualitative goals or a combination of the two. No matter the nature of a company’s goals, it is important to manage expectations prior to the start of a trade show. Many businesses set quantitative expectations too high, and become disappointed and lose energy when the sales goals are not met. In reality, certain businesses may be better advised to focus on more abstract goals such as networking, marketing and brand development that are harder to define but possibly more conducive to long-term, sustainable growth and success.

 

Having The Right Equipment

 

One reason trade shows have ironically maintained and even grown their popularity in the digital age is the increasing prevalence of technology at the events. In order to get the most out of a trade show, a business can invest in a tradeshow scanner that makes it easier to scan barcoded trade show badges and track the leads that are generated at the event. Not only does this aid in time management on the day of the show, it simplifies the crucial process of following up after the show concludes.

 

 

 

 

Maximizing Trade Show Revenue

The importance of trade shows for many businesses is well understood. Especially for small and new businesses, trade shows present an opportunity to develop the business in several crucial ways. Most obviously, trade shows are an opportunity to grow a business by increasing sales; perhaps more beneficial in the long-term, however, is the potential to develop a company’s brand and further identify and cultivate a consistent customer base.

 

Many people who attend trade shows do so on behalf of retailers or stores who are looking to build their own business by identifying products that would be a good fit for their own brands and product lines. Lost in the hub of commerce that exists at a trade show is the host of the event itself. The buying, selling and networking that goes on at these shows does not take place in a vacuum; an organization responsible for the venue and all other logistical and organizational aspects is required. Trade show hosts may be the organization in control of a venue itself, such as a convention center, or a show may be hosted by a third-party organization.

 

The economic implications for trade show vendors and attendees are obvious and simplistic; trade show hosts, however, need to be conscious of the entire event’s financial context. Often, creative measures need to be taken to maximize trade show revenue and ensure that a show remains economically viable so it can remain on the calendar and be consistently counted on by businesses. Here are some ways that trade show hosts maximize revenue by selling sponsorship of the event.

 

Badges

 

Trade show vendors and attendees are often equipped with barcoded badges. Using a specialty tradeshow badge scanner, these badges are scanned and information about a particular individual or company can be easily stored and accessed at a later date. Trade show badges and scanners are increasingly popular as they have made networking at the event more efficient and organized than ever before. As a result of their ubiquity, many event organizers choose to sell sponsorship that includes advertising on these badges. As trade show vendors scan the badges of potential customers and attendees scan the badges of products and services that pique their interest, any advertising on the badges is certain to be noticed and provide a good return on investment for sponsors.

 

tradeshow-scanners

 

Check-In

 

The often-hectic trade show check-in process is another potential source of revenue for the event. Even the most efficient, high-tech process is prone to situations where a lot of attendees are crowded into one area of the event space. While this is may be a necessary drawback of a well-attended trade show, it is an opportunity for organizers to sell advertising space around the physical check-in area. As events increasingly automate the check-in process, valuable advertising can still be sold on the mobile check-in screens that are guaranteed to be seen by all attendees.

 

Charging Stations

 

Good advertising can move people in a certain direction to a certain location, but it can also simply follow people where they are already headed. As trade show check-in becomes automated, some advertisers will still look to have a presence in the physical event space. Event organizers can capitalize on this by creating centralized charging stations and selling advertisements in and around the area. All of the mobile devices like laptops, smartphones and badge scanners that are a must for modern trade show attendees and vendors will need to be charged, and a charging station meets this need and creates a valuable advertising opportunity.

 

 

 

Better Business Through Software

To compete in today’s competitive economy, small businesses—especially fledgling businesses that have yet to establish a foothold in their market—need to seize every opportunity they can to get a leg up. More than ever before, this process of turning over every stone looking for business advantages involves utilizing business software. There are several reasons why business software is more important to businesses in a diverse set of industries than ever before. For one, more businesses than ever before are taking advantage of software; thus, businesses who neglect to invest the resources in making software work for them risk falling behind their competitors. Also, the software itself is much more advanced (and easy to use) than ever before. Along with being more advanced, today’s business software is also more specialized in many ways than ever before. It may not benefit small businesses to take a one-size-fits-all approach when it comes to selecting software. Instead, businesses should carefully consider the areas of their business that would most benefit from the efficiency afforded by the latest software. Here is a look at some areas of a business that can be improved through software.

 

Accounting

 

There are several different quality accounting software programs that can help your accounting department operate more efficiently. QuickBooks is perhaps the most reputable, and it is available in both desktop and online versions. Which version is right for your business depends largely on your individual needs; both options are increasingly affordable for businesses of all sizes. An even simpler, more affordable, cloud-based accounting program option is FreshBooks. FreshBooks might be the best option for a business with minor accounting needs and a lack of experience with accounting software. Another increasingly popular alternative for businesses with minor accounting needs is Wave Accounting, which is free to use (though it offers certain types of support packages for a monthly fee).

 

HR

 

As new small businesses grow, human resources is an area that can be neglected. One way to help avoid this is by implementing software that can make the job easier. One popular human resources program called Zenefits allows users to complete all the different aspects of human resources, including benefits management, payroll processing and more. The program is relatively simple to use and can be set to run on an automatic basis. There are also alternatives to Zenefits out there that can help your small business.

 

Scheduling

 

Scheduling can mean different things to different businesses. For some it may mean scheduling the shifts of employees, while for other it may primarily mean scheduling appointments with clients. Many scheduling software programs are versatile enough to deal with all the various kinds of scheduling needs a business may have. Many of these programs, like When I Work for scheduling staff hours and Booker for booking appointments, allow your employees and clients to access the software as well, increasing the connectivity between businesses and their customers.

 

Inventory

 

rental-inventory-scanner

 

Many businesses still keep track of their inventory the old-fashioned way; with the rise of new inventory management software programs, even entering inventory manually into an Excel sheet is considered the old fashioned way. Businesses, even those with small inventories, should consider investigating a quality inventory/data tracking program like ScanCount Pro or Redbeam Inventory Tracking. The software is usually designed to work in conjunction with inventory tracking hardware like barcode scanners. Many companies offer both the hardware and software on a trial basis, so business owners should stop and think if barcode inventory rentals might improve the efficiency of their inventory process.

 

Choosing A Barcode Reader

More and more business owners are choosing to implement barcoded inventory systems as a way to improve the accuracy and efficiency of their organization. On the surface, acquiring the necessary equipment to implement a barcoded inventory system seems relatively straightforward. All that’s needed is the barcodes themselves, a barcode reader (or scanner) to read (or scan) the barcodes, and an inventory management software program that can store, transfer and work with the data collected by the barcode reader. A closer look, however, reveals a variety of different options when it comes to each of these barcode system components. There are a variety of different barcodes that serve different purposes, different types of barcode readers and different inventory management software programs with different capabilities. This post will focus on the factors business owners need to consider before selecting the right barcode reader for their needs. Many barcode equipment companies offer barcode reader rentals that allow businesses to find the right barcode reader or use it on a seasonal basis or at a special event.

 

Factors To Consider

 

Before investigating the different types of scanners, it is important to have a firm understanding of the context in which it will be used. Where the scanner will be used is an important factor in the ultimate purchase decision, especially if it will be used in a rugged environment such as a warehouse. How often the scanner will be used, what kinds of barcodes it will be reading and if it needs to stay connected to a computer are some other details that need to be worked out before the search for the right barcode reader begins.

 

barcode-reader-rentals

 

Type Of Scan Engine

 

When most people refer to different types of barcode readers, they are actually referring to the different types of scan engines that are used in different devices. The type of barcodes that one needs to read plays a big role in the type of scan engine one will need. The three major types of barcode readers are laser scanners, linear imager scanners and 2D area imagers. Laser scanners are the most well-known type of barcode reader; they use a red laser to read the black and white spaces that make up a barcode. Though these barcode readers are only able to read standard linear barcodes, they are often the most cost effective option for consumers. Linear image scanners, like laser scanners, also are only able to read standard linear barcodes. Instead of reading the reflected light from the barcode as laser scanners do, they take a picture of the barcode: this is particularly effective for reading poorly printed or damaged barcodes. 2D area imagers, like linear imagers, also read the barcode by taking a picture. The benefit of 2d area imagers is their ability to read all types of barcodes, and they are also considered “smarter” scanners for their ability to read barcodes at many different angles and orientations.

 

Barcode Reader Styles

 

When it comes to different barcode readers, most people probably consider the different forms they come in to be their main distinguishing feature. There are handheld scanners, presentation scanners and mobile computer scanners. Handheld scanners, which may be cordless or connected to a computer, are the most common and considered very easy to operate. Presentation scanners are designed to sit on a flat surface and have the barcodes physically moved in front of the scanner, as opposed to the other way around; these are frequently seen at retail checkout counters. Mobile computer scanners are becoming increasingly popular, as they are able to offer a computer and a scanner in the same device. They hook up to Wi-Fi and cellular networks and are ideal for inventory management, asset tracking and other forms of data collection that require ongoing updates.

 

 

 

Reasons To Barcode Your Inventory

“If it ain’t broke, don’t fix it,” is a rule that many people live by. More often than not, it is sound advice that is especially helpful for people who are prone to over-analyzing a situation. There is much to be said for carefully considering each possibility, but those analytical thinkers must walk a fine line before they think themselves to a point of diminishing returns, where their thoughtfulness turns into hesitation and stagnation and prevents the appreciation of a job well done. When it comes to business, it is especially important to consider all the options available to improve the performance of any aspect of a business. Too much reliance on “If it ain’t broke, don’t fix it,” can quickly leave a business owner behind the eight-ball and losing ground to his or her competitors. One such aspect of a business that owners and managers must always look to improve is their inventory process. An increasingly popular upgrade to existing inventory processes is implementing a barcode system into the inventory. While some business owners have been getting along just fine with manual data entry to keep track of their inventory, here are some reasons they may want to consider a barcode inventory system to improve their overall business.

 

barcode-inventory-rentals

 

Improve Accuracy

 

Barcoded inventory systems have been proven to be more accurate than manual data entry systems. This might seem difficult to believe for business owners who rely on a data entry dynamo to maintain their inventory, but computers have been found to perform basic data entry and calculations at a much more accurate clip than even the most proficient human beings.

 

Increase Efficiency

 

Using barcodes also may increase the efficiency of the inventory processes. Though there may be a few staff members that have a business’s inventory data entry system down to a science, automating the process using barcodes saves time and frees up employees (and business owners) to focus on other tasks. Of course, as small business owners especially understand, when businesses are able to save time they are also able to save money.

 

Look & Feel More Professional, Grow Your Business

 

When a business operates with a high degree of accuracy and efficiency, customers can tell. When a customer’s interaction with a business or organization is as convenient as possible, whether it is the purchasing of a product, service or other situation, it is perhaps the single biggest factor in building the organization’s reputation and brand. While all of these aforementioned benefits of a barcoded data entry system can help grow a business, it is also conducive to growth on a very practical level. While a certain business may not need a barcoded inventory system at the moment due to a low volume of inventory, there comes a point of expansion when an automated system will be necessary. Staying ahead of the curve and beginning to use barcodes sooner rather than later makes business growth that much easier.

 

What You Need

 

The equipment necessary to implement a barcoded inventory system is relatively straightforward. Businesses will need barcodes, of course, in addition to a barcode scanner and software that can store product details and perform the functions a particular business needs it to. Many companies offer barcode rentals that allow businesses to test-drive a barcode management system and see if it can help their situation. Businesses of all sizes and at all stages of growth have found significant benefits to investing in the latest barcode hardware and software.

 

Renting Business Equipment

As technology advances, there is more equipment released on a consistent basis than ever before aiming to help all sizes of businesses and organizations with their operations. The equipment available is more diverse than ever before, meaning businesses and organizations have more options regarding which equipment they choose. Additionally, modern equipment has found a way to be both more advanced and easier to use than the equipment of previous generations. Not only that, but business equipment has also become more specialized. Businesses looking for a computer with specific power and memory specifications, desks with a certain built-in ergonomic feature, machinery to perform a specific type of lift or a vehicle dependable enough to make a haul over a targeted range of miles will more likely than not be able to find the exact equipment they need.

 

Businesses Still Must Make Smart Financial Decisions

 

While the selection and capability of equipment has changed significantly in recent years, many businesses have not seen the same change in their bottom lines. For this reason, more and more businesses are investigating a third way between buying the latest equipment and continuing to do things the old fashioned way: leasing business equipment. In response to this trend, equipment companies are offering things like barcode equipment rentals and other equipment for trial periods. Here is a brief look at the benefits and drawbacks of renting business equipment.

 

barcode-rental

 

Benefits

 

The most obvious benefit to leasing business equipment as opposed to purchasing it is that it is the more cost effective option. Just how cost effective it is, though, may not be apparent from a simple side-by-side comparison of purchase price and rental price. Business owners should also consider the savings of time and stress that come with leasing equipment as opposed to owning it. There is often a significant opportunity cost that comes with owning equipment that is not fully considered before it is purchased. Another major benefit to leasing equipment is that a business is less affected by changing technology. While those who buy equipment might regret their purchase when a newer, more effective model is released, those who rented can simply rent the better version next time.

 

Drawbacks

 

Some drawbacks to rental equipment are also financial in nature. In many cases, there may be an investment potential to equipment purchases that are not there with rental equipment. This distinction is often mirrored in the debate about renting or purchasing a home. Also, many business owners simply fail to consider the implications of their leasing agreement; they may believe that they will have the ability to purchase the equipment outright at the end of the lease, only to find that this is either not an option or not financially feasible.

 

What To Consider

 

Regardless of what type of equipment a business is considering either purchasing or renting, there are a few major factors to consider beyond the personal financial situation of the business (often, the smart choice is the same for the business on a tight budget or a business flush with cash). For one, the length of time the equipment is expected to be needed should be considered. Also, the terms of the rental or purchase agreement must be analyzed thoroughly to avoid any potential unanticipated financial or legal problems in the future.

 

 

Trade Show Essentials

Trade shows are an exciting experience for businesses, especially new businesses still in their early stages of operation. Trade shows are an opportunity for fledgling businesses to develop their brand, generate leads, acquire new customers, make sales and generally grow their business. While the trade show experience can be exciting and full of optimism, it can also be a highly stressful event. The stress generated by trade shows is due to how critical they can be to the long term success of a business, particularly a small business that cannot afford many missteps in an increasingly competitive economy. One way to limit the stress involved in a trade show is for a business to have all of the equipment it needs well in advance of the day of the event. Having all of their ducks in a row can provide businesses with much needed peace of mind and free up valuable time and resources to focus on presentation. When it comes to trade show equipment, the actual products they intend to sell or props they intend to use in their service demonstrations are the first things that come to mind. There are many smaller items, however, that can contribute to the overall success of a trade show experience. Here is a look at the more subtle items that can help businesses leave a good impression with prospective customers and clients at a trade show.

 

Office Supplies

 

While more and more business is being done electronically, including networking and exchanging contact information, as well, there is still much to be said for having a stock of office supplies handy at a trade show. One never knows when a pair of scissors, extra writing utensils, a stapler or paper clips will make an unexpected difference in a customer interaction or in a last-second adjustment to presentation materials or informational handouts. Again, the peace of mind that comes with being prepared is often enough to have a significant, positive effect on a business owner’s overall trade show mindset.

 

Tech

 

Businesses in most industries are now expected to have at least some technological fluency. Demonstrating this tech savvy at a trade show can have a positive effect on a presentation and perception amongst other trade show attendees. One piece of tech equipment that comes in handy at a trade show is a digital camera. Of course, most smart phones are equipped with most of the features of a digital camera, but there is still a special quality involved in an actual camera. Not only can a camera film a company’s presentation, but it can also be used to take photos with customers and other attendees at the event. Both the presentation and the photos are potentially valuable, engaging content that can be posted to social media sites after the trade show. A tradeshow badge scanner is also a handy piece of equipment. Badge scanners can be used to scan the barcoded badges that many trade shows provide their attendees; their information is then stored, either by the scanner or by a software program it is synched to, for easy access after the trade show. Tradeshow badge scanners make the process of generating leads, tracking leads and following up after a trade show much more simple and efficient.

 

stand-alone-barcode-readers

 

Other Items To Consider

 

Things like speakers, cleaning products, tool kits and aromatherapy products are also good options for the trade show exhibitor who wants to be thoroughly prepared. It is important to think of the trade show within the context of an overall business plan. Any item that will streamline the process on the day of the trade show or the follow-up process in the aftermath of the trade show might be considered a necessity.

The Invention Of The Barcode

Some inventions are so subtle, ubiquitous and intricately woven into the fabric of our daily lives that they become difficult to notice at all. As a result, they are generally given short-shrift when it comes to larger, more obvious inventions. One such smaller invention that isn’t given its fair share of coverage is the barcode. One reason for this is that the barcode is difficult to classify. While it is obviously a concrete object, it can almost be considered more of a concept than an object. The barcode deserves recognition not only for its contribution to modern life, but for the advancements that it has inspired and made possible. By allowing physical objects to be quickly represented as data points, barcodes played a pivotal role in laying the groundwork for the ongoing data revolution that has found its way into nearly every industry in existence. For such an influential invention, very few people know very much about it and even fewer people are aware of its inventors and how it came to be invented. Here is a look at the history of that black-and-white-striped product companion, the barcode.

 

Inventors

 

The basic principle behind barcodes, the attachment of a corresponding symbol to a product so its sale and movement can be more easily tracked, was formulated in the 1930s. A group of students at Harvard Business School devised a system where shoppers looking at a catalogue would pick the products they wanted from the catalogue by punching a card from the catalogue. The punched cards could then be inserted into a card reader that produced a bill for the customer and could also update the inventory of the catalogue’s store. This rudimentary system laid the groundwork for the barcode process we are familiar with today. Two men named Bernard Silver and Norman Joseph Woodland are credited with inventing the actual bar code in 1948-1949 as graduate students.

 

Their Barcode

 

Silver and Woodland’s barcode shared many characteristics with the barcodes we know today: their invention was a pattern of white lines on a dark background that encoded information based on the layout of the lines. Though their invention was not as advanced as the barcodes of today, they made a truly significant advancement. Neither of the two men made much money on the invention. Silver died in 1962 before he had the opportunity to see the first commercial use of his barcode. In 1992, Woodland was recognized by President Bush with the National Medal of Technology.

 

Widespread Use

 

barcode-point-of-sale

 

Modern barcodes have come a long way from their earliest days. Today, barcode equipment and software is more advanced than ever before and applicable to more and more industries each day. It took awhile, however, for the barcode to become so popular. In the 1960s, when the barcode was first commercialized, it was implemented in grocery stores to speed up the checkout process. By the 1970s, products were beginning to be outfitted with UPC codes specifically for this purpose. Industrial applications of barcodes soon followed, and by the 1980s the U.S. military was mandating that each product sold to them needed to be barcoded. The barcode systems of today are so advanced and flexible that they are useful to more people than ever before. Many companies who sell barcode products offer barcode equipment and barcode software rentals to these companies on a trial basis. The history of the barcode indicates that it is an invention with staying power.

 

3 Common Inventory Mistakes

Most business owners are reluctant to incur many business expenses. This is understandable, as it is this trait of frugality that many successful entrepreneurs and managers consider to be one of the primary drivers of their success. There are several areas of a business, though, where informed and deliberate expenses are necessary for the long-term success of a business; excessive frugality in these areas can stifle the long-term growth of a business. One such area in which expenses can be good investments is inventory management. Despite the widely-accepted importance of inventory management, it is still neglected often by those in the business world. Worse yet, many businesses commit crucial errors when it comes to managing their inventory. The mistakes are made so commonly that business observers have been able to identify and even predict them with impressive accuracy. Here is a look at three common inventory management mistakes.

 

 

Staff

 

One common mistake made by businesses relative to their inventory management systems involves the staff and employees of the business who deal with inventory. Specifically, there is frequently a lack of training provided to these staff members. It is important for employers to remember that it is important to ensure that each staff member who deals with the inventory knows how to use the inventory management system, whether the inventory data is stored on local computers or via a cloud-based system. Frequently, there will be one employee who is proficient in the inventory management system; this employee will be used as a crutch and relied upon to shoulder the load of the data entry and management. When this person is unavailable for any reason, the efficiency of the inventory system can break down. Upgrading to a cloud-based system is the beginning of a solution to this problem, as they are becoming increasingly user-friendly.

 

Equipment

 

barcode-inventory-rentals

 

There have also been great strides made in the types of inventory management equipment available that can help make the process more efficient. A common mistake plaguing businesses with inventory is a lack of automation in the management process. Manual tracking, such as typing inventory data into Excel or another spreadsheet program, has gone the way of the dinosaur. Businesses can save time and money by implementing an automated software or cloud-based system that automatically keeps track of data. These can easily export the data into Excel or another spreadsheet program. There is also more advanced pieces of hardware available like barcode scanners that work in conjunction with the software system. Many providers of barcode equipment offer their products on a trial basis, so try out a rental inventory scanner if you feel your business may benefit from automating the inventory management process.

 

Supply/Demand

 

Inventory management issues are all related. Any inefficiency in the inventory management system, whether it stems from personnel, equipment or another facet of the process, ultimately leads to the biggest inventory problem—the wrong quantity. Too little or too much inventory can cause a problem for the business as a whole. This may be the result of a system inefficiency, or it may simply be the result of a strategic failure. It is important to maintain an accurate perception of demand for your inventory and be flexible and focused enough to make adjustments as needed. Supply and demand is the first thing you learn in economics class for a reason, and inventory is the living embodiment of the principle.