Better business decisions usually equate to more company profitability. When manufacturers or suppliers apply barcode labels to their products, they have access to information that was previously unavailable to them. They can then analyze this data in order to make smarter business decisions that directly affect the profitability of their operations. Many of these profit-hinging decisions include cost analysis, pricing, inventory levels, purchasing plans and much more.
"Using barcodes to track … business' inventory can help [them] stay on top of where items are located and how many items are in stock," Allison Midori Reilly wrote at Small Biz Technology. "A basic inventory tracking system consists of software and a barcode scanner or mobile computer. All Inventory items will have barcode labels, so when [they] remove an item from stock, [they] just scan the barcode to reduce the available count in [their] inventory tracking software, instead of having to type in a SKU (or even worse, track it in a spreadsheet)."
"Organizations can record each step of the way during their operations."
While traditional SKU-typing methods will allow companies to collect certain amounts of product data, this method will not propel them into future marketplace success. With barcodes, organizations can record each step of the way during their operations, ensuring that no vital information is lost in the shuffle, leading to losses in revenue and valuable production time. Essentially, in increasingly competitive industries, time is money, therefore it may be a wise choice for companies to turn to the most time-effective solutions to alleviate any potential weaknesses.
"When custom labels are used, your warehouse will have fewer errors with the wrong items, or quantities of items, pulled for shipment," Chicago Tag Label, a provider of high-quality custom labels and custom tags, wrote on its website. "Including date codes can be beneficial if you stock products that have expiration dates. You can ensure that the oldest inventory is moved before newer inventory is pulled. Your database will contain up-to-date information on quantities and you can create alerts for materials that require reordering."
At Stranco, we offer an extensive selection of thermal transfer label materials to meet a wide variety of marking applications to help companies become more profitable. From electronic equipment labels to general identification labels, we have the expertise and excellent customer service to help your company discover the best labeling material to meet your specific industry needs. Though we specialized in blank die-cut labels on high-performance thermal transfer label materials such as polyester and polyimide, we stock many other labeling materials. Contact us today to see how we can help you find the perfect labeling solution for your company's application requirements.