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In this post, you will find everything you need to know about barcode scanner inventory software. Using barcode scanner inventory software is the best way to achieve top-notch efficiency and reliability for businesses. So our team set out to find out more about barcode inventory software. The result of our in-depth research is what we will be sharing in this post.
What is barcode scanner inventory software? Barcode inventory software is simply a software program that links barcodes with their corresponding records on a computer database. Barcode scanning inventory software provides a means to identify products and count them quickly just by scanning their barcodes. This process leaves little to no room for human error. Inventory management becomes faster, easier, and more accurate when you use barcode scanner inventory software. It can help facilitate your stock taking and receiving of shipments, as well as packing and shipping orders.
Barcode inventory software supplies an intuitive interface that makes checkouts and audits more efficient. You can use the software to manage products or items across several locations. Some software programs can manage both barcodes and RFID tags. But to use barcode software, you must install them on your computer and integrate them with barcode scanners.
Do Barcode Scanners Require Inventory Software To Work?
Barcode scanners don’t have software specifications or requirements. However, you need barcode scanning software to manage the data that the scanner would send to your computer. This means that you don’t have to install any driver or software to integrate a barcode scanner with your computer. It would connect to your computer and transmit data to it just like an external mouse or keyboard does. However, your barcode inventory system is not complete if you don’t have inventory software on your computer to host and manage the barcode database.
Barcode scanners read barcodes, decode them, and transmit data to your computer without the need for a software program. But you need a software program on your computer to manage the database. The software will help you take stock, organize them, and manage your inventory adequately.
The barcode scanner and computer are the hardware components of your barcode inventory system, but the system is not complete without the software component. The barcode scanning software is at the heart of your barcoding system. It not only hosts the barcode database but also integrates and manages every data that comes in from the barcode reader.
What Are the Different Types of Barcode Inventory Software?
For starters, some barcode inventory software programs work straight away when you install them. But then, some others require you to customize them for integration with your ERP back-end system. Another way to classify inventory software is by the purpose they serve. These include asset tracking, order management, mail tracking, stockroom management, and warehouse management, among others. What’s more, inventory software programs support different inventory valuation methods, ranging from first-in-first-out (FIFO) to last-in-first-out (LIFO).
Several options are available in the world of barcode software. However, not every option will be suitable for your business. Each software program has its benefits and demerits. This means you have to consider what a software program has to offer, and compare them with your business needs, to decide if it’s suitable for you.
The good thing about most software programs is that they allow you to install a demo and try it out before you pay for it. That way, you can test several options to determine the most suitable option for you.
Different Barcode Inventory Software Types by Functionality
The different barcode scanner software types according to their functionalities are as follows:
- Mail tracking
- Counting product shipments
- Warehouse Management
- Order fulfillment/management
- Asset tracking/control
- Stockroom management
- Field service control
- Time & attendance tracking
- Manufacturing management
- Consumables tracking
Different Barcode Inventory Software Types by Data Entry
A more common way to classify barcode inventory software is how they reconcile data. The two types available are as follows:
Periodic Inventory System
This refers to a software system that updates inventory data and balances it periodically, rather than continuously. This type of inventory system will help your organization maintain regular counts of stock, assets, or ingredients. That way, you can easily verify what you have available after each periodic count. The periodic count can occur annually, quarterly, monthly, or weekly.
Perpetual Inventory System
This refers to a software system that updates product cost and inventory for each purchase/sale. They balance inventory data continuously and help maintain real-time counts of stock, assets, or ingredients. That way, you have access to up-to-date reports on product stock and stock value.
Different Barcode Inventory Software Types by Inventory Valuation Method
Different industries use different inventory valuation methods. The two main methods are the FIFO and LIFO valuation methods. These two methods have different impacts on COGS (cost of goods sold) and profits.
FIFO (First-In-First-Out)
The FIFO method valuates inventory by assuming that you sell older units of inventory first. This method matches the way most businesses operate. It is a logical choice for most business owners since they often use older inventory first to prevent them from becoming obsolete. What’s more, this method indicates a more accurate inventory value.
LIFO (Last-In-First-Out)
The LIFO method valuates inventory by assuming that you sell newer units that recently arrive in your inventory first. This method may not give you up-to-date or accurate inventory value because the inventory valuation is usually lower than the current prices of inventory items. This method may not be realistic for most companies. Most businesses will not leave older items sitting idle while selling the most recent items.
What Can You Do With Barcode Scanner Inventory Software?
The many things you can do with barcode inventory software include inventory tracking and management. You can also use it for stock auditing, vendor management, and sales order management, among other things. Barcode scanner software can help with various aspects of supply chain and inventory management.
The three main uses of barcode scanner inventory software are as follows:
Inventory Tracking
For starters, you can track inventory anywhere it goes within your warehouse or even to far-away locations. What happens is that whenever the item gets to a new location, it will get scanned. As soon as it is scanned, the location is logged in the tracking system. That way, you can easily track inventory and your products are unlikely to get missing.
Improved Inventory Management
Barcode scanner software improves inventory management, including item placement within your warehouse. When you can track the items in the different places where you have placed them, you will be equipped to make better decisions about your warehouse. This improves not only your inventory management but also logistics.
Stock Auditing
Stock auditing is one of the components of inventory control. This process is much faster and easier when you use barcoding inventory than when you enter the data manually. And it is also much more accurate. As a result of these, your stock auditing will be much easier and efficient.
✅ Video – Inventory Management for Small Business. A Simple How-to Tutorial
If you are looking for a fast way to send inventory data in large amounts and manage them, you should watch this video. You will learn how to operate an inventory management system for your inventory tracking and asset management. The tutorial in this video is straight to the point and simple to follow.
Benefits of Using Barcode Scanner Inventory Software
Integrating barcode inventory software into your business can bring drastic improvements to the accuracy of your business inventory. Rather than rely on a manual process, barcodes inventory systems allow you to digitize your inventory process. Computers may not be perfect, but they are many times more accurate and reliable than humans.
The decision to switch to using inventory software instead of a manual process will pay off in the long run. The system is quick and easy to set up, and it will make your business processes more efficient. Remember, however, that the inventory software is only a component of the barcode inventory system. You must integrate it with the appropriate hardware to fully incorporate the barcoding system into your business.
Barcode Scanning Inventory Software Advantages
Eliminates Human Error
Human error is one of the major risks of making manual entries for your inventory. But when you start using barcode inventory software, this risk is eliminated. Since there is less human involvement in barcode scanning inventory, the incidence of errors also reduces drastically.
Reduces Need for Training Employees
If your employees will have to enter inventory data manually, they will need extensive training to do it efficiently. Conversely, your employees can master how to use a barcode inventory system in just a few minutes. Once they master that, the computer and inventory software will take care of the rest.
What’s more, your employees will not need to become familiar with the entire pricing or inventory procedure. The full data will be contained in the barcode system. Once your employees learn how to scan barcodes, they don’t need to master anything else or learn any other skill.
Inexpensive Inventory Solution
Barcode software and all the necessary hardware are not expensive. Designing and printing barcodes are also cheap. You can incorporate and customize them for your business with mere pennies. What’s more, you wouldn’t have to incur recurring expenses on stationery for manual inventory.
Versatile Inventory Solution
Barcode scanner software can hold different kinds of data. So you can use it to host as much data as necessary for your business process. These include inventory or pricing information, among others. More so, you can attach barcodes to almost any surface. This means that you can use the barcoding system for any item of your choice.
Improves Inventory Control
Barcode systems allow for precise and accurate inventory tracking and can help reduce inventory levels. This, in turn, means less overhead expense for your business. You can also use barcode inventory software to track equipment location. This will reduce the time you’ll spend looking for items and the money you’ll spend replacing items that you think are lost.
Better Inventory Data
Since you can use barcodes for both pricing and inventory data, you will be able to obtain both data quickly. Furthermore, you can customize barcodes to contain any other information you consider relevant. Barcode scanner software provides quick and dependable data for wide-ranging applications.
Promotes Better Business Decisions
A barcode system will promote better business decisions. Since you are obtaining data accurately and rapidly, you will be making more informed business decisions. And ultimately, this would help you save more money and time.
✅ Video – Best Inventory Management Software
This video contains recommendations on the best inventory management software that you can incorporate into your business. There are 10 products in the video for you to choose from. The software programs are not only listed, but the video also contains the kind of business each one is suitable for.
Components of a Barcode Inventory System
A barcode inventory system has both software and hardware components. Aside from the barcode inventory software, you may need hardware components such as a computer, barcode label printers, and barcode scanners for a complete barcode system.
Once you have downloaded and installed barcode scanner inventory software on your computer, you would need the following other components to operate your barcode inventory system:
Barcode Printers
You need barcode printers to print the barcode labels and tags for your items. You can use either a direct thermal or thermal transfer printer to produce barcode labels. You also should buy label media that are compatible with your printer. If you printing access control cards, for instance, you should buy an ID badge printer.
Although you can use regular office printers to make standard labels, such label printouts are usually prone to smearing. Barcode labels are cheaper to print and they last longer when you print them with thermal printers.
Barcode Scanners
You need a barcode scanner to read the barcodes on each item. Wireless barcode scanners are suitable for mobile barcode scanning and real-time data entry management. The different wireless connection options for barcode scanners include Bluetooth, 2.GHz radio wave, Wi-Fi, and cellular connectivity.
Aside from the wireless scanners, there are also handheld wired USB scanners. You can plug these into your computer. While they are cheaper than wireless scanners, they must always be close to the computer. But unlike wireless scanners, they don’t require periodic recharging.
Related Questions
Do Barcode Scanners Come With Software?
Barcode scanners don’t come with software because they usually need no software or special driver to work properly. Barcode scanners communicate with computers as general input devices, just like an external keyboard or mouse.
But then, the barcode system needs software for full integration. When the scanner sends data to your computer, you would need barcode software on the computer to update the data into your inventory system. The barcode inventory software is your barcode system’s central hub.
What Can I Do With A Barcode Scanner?
The primary function of a barcode scanner is reading barcodes. Every other thing it does springs up from this function. A barcode scanner will read/scan a barcode, convert it into electrical data and send it to your computer in a format that’s readable by humans.
For a more comprehensive response to this question, you can check out our post on the topic – “What can I do with a barcode scanner?“
How Does A Barcode Inventory System Work?
The functions of a barcode inventory system start from when barcodes are created and printed. The barcode contains certain encoded information that barcode scanners are enabled to read. When a barcode scanner reads the barcode, it decodes the embedded information and sends it to your computer, where the inventory software updates and tracks the information.
Setting up a barcode inventory system is simple. And operating this system in place of manual inventory has lots of benefits for every business. You can use the barcode inventory system for diverse inventory applications across diverse industries.
Conclusion
As you have seen, the barcode scanner inventory software is a key solution for inventory management, among other business processes. You should consider investing in a good and efficient barcode inventory system for your business. This will include getting appropriate software and hardware components. Your business inventory will be faster, more efficient, more accurate, and more precise when you incorporate a barcode system into your business.
