Barcodes are seen on virtually every product; but they are more than just a symbol that can be scanned. A barcode inventory system helps to preserve the integrity of the product as well as the business selling it.
The Micro Small and Medium Enterprise Development Institute recently hosted a workshop advocating for the use of barcodes. While the pharmacy market in India and elsewhere is required to barcode all goods to track their products, they can also be used to check the sale of fake items across industries, according to The Indian Express. Barcodes help distinguish real versus fake through their unique designs and compatibility with machines to decipher the code.
Woman's Day Magazine learned the hard way just how much barcodes could affect sales. Through the flurry of papers and rush to publish a special issue, the barcode was left off the cover in the printing process. A publication rumored to have cost $300,000 was now unable to be scanned and could not be sold, according to The Daily Telegraph. The barcode was manually put on the issues as they were brought to a warehouse, bringing hours of delay and major expenses.
While the magazine's price could have been manually entered, publications tend to differ in cost, and without prior warning, the possibility of human error was high in selling the issue without a barcode. The code takes less time to scan than entering the data manually, leaving businesses with more time and resources to help customers. The other issue with not having the barcode on the cover was the inability to track inventory. Without scanning, the vendors ran the risk of losing stock or incorrectly entering it. This also would lead to the problem of generating bad reports based on faulty sales trends.
Barcodes are essential in maintaining correct inventory information as well as for making sure that fake products are kept out of the market. For more information on improving efficiency with barcode technology, download the free white paper entitled "Keeping the Physical World and the Virtual World in Sync" from DMS today.