Nowadays, enterprises the world over are feeling the heat when it comes to maintaining order accuracy and speedy fulfillment. Though there are plenty of management systems to aggregate the data and processes, one facet that can end up falling by the wayside is inventory. Performing comprehensive counts, whether they’re scheduled on a monthly basis, or through custom-fit cycle counting, must be done with complete precision to safeguard your business’ ever-changing fulfillment needs. One of the best ways to do this is to take advantage of cutting-edge inventory tags. When paired with a competent asset or warehouse management system, inventory tags can be scanned to inform your supply chain of changes in your current inventory. This practice helps build end-to-end visibility among all parties, from supplier to customer, as your inventory moves through your warehouse. Show
In this guide, we’ll discuss: What Is an Inventory Tag?An inventory tag is a barcode label or plate that is attached to a product or package for the purpose of tracking. These tags can be used for performing manual inventory counts or connected to a system of scanners and an Inventory Management System (IMS) for automated counting. The use of inventory tags is ideal since these labels can be customized to meet the needs of each company and provide adequate inventory control. The most basic inventory control tags usually contain an inventory number, barcode, and name of the company that is managing the inventory. In some cases, they may contain additional identifiers such as product name or a “do not remove” statement. By standardizing its inventory labeling with a tag, a company can ensure uniformity across its organization and more efficient monitoring, stocking, and shipments. How Do You Label Inventory?Managing inventory is a little different than managing assets because your inventory is likely to be turned over more quickly. Your individual inventory items may be consumed by production orders or require relocation periodically as customer orders are filled, parts are replaced, or supplies are used. For many companies, this requires a very flexible system that also accounts for inventory space on shelves and racks. To begin with an inventory labeling project, the following steps are recommended.
Benefits and Main Uses for Inventory TagsWhen it comes to utilizing inventory tags, businesses the world over use them for several key operations, including:
Best Practices for Inventory TagsNaturally, just purchasing and installing inventory tags won’t solve all of your inventory tracking and asset management solutions. As mentioned above, these affordable tags act as important components that make up a bigger puzzle.Once you’ve selected the tags that work well with your inventory, assets, and warehouse needs, it’s time that you follow these best practices to put them to good use:
Businesses that Benefit from Inventory TagsWhile most may think that the word “inventory” only applies to commercial manufacturing, stores, or e-commerce operations, it actually occupies a much broader spectrum. Remember, inventory is included in the realm of moveable and fixed assets, which means that materials that are procured, managed, or even stored can be considered inventory. Take a look at these surprising sectors that hold, ship, and maintain inventory regularly:
The above are just a few of the largest industries that regularly benefit from the use of inventory tags. If you are having trouble working out whether or not yours should invest in the technology, too, first assess your assets; if your moveable assets are many, diverse in nature, change location often, and are pricey, then this process can definitely streamline and safeguard your operation. Types of Inventory Tags that Will Fit Your Warehouse’s NeedsWhen inventory tags are installed and integrated into your inventory tracking system, the results are usually seamless. But, before you can experience the benefits of the management system, you will first need to select the types of tags that will fit the needs of your applications best. Here are Camcode’s most popular options: Metal Foil Labels
Rigid Metalphoto Tags
Premium Polyester Inventory Labels
Tamper-Evident Bar Code Labels
Destructible Vinyl Inventory Labels
Two-Part Labels
Removable Inventory Tags
As you can see, there is a label option to meet the needs of your inventory management system. Remember, it’s rare for one company to stick to a singular category of label as some inventory requires more durability than others. To determine your needs, look through your register and ask yourself these questions:
Once you answer these questions, place your inventory into categories organized by similar type. Once you’re finished, you will have a better idea of the number of tags needed and an estimated cost of the investment. How to Select a Software that Complements Your Inventory TagsSimilar to selecting the best inventory tags, you need to ask yourself plenty of in-depth questions about the specifics of your business before you invest in the first inventory management system that you see. Here are some of the key ones to consider:
Once you have answered and considered all of these questions, take a look at our list of the top 30 inventory management software tools available to help you make your selection. Inventory tags can make a huge difference when it comes to efficiency, accuracy, safety, theft-prevention, and the overall lifespan of your inventory. It’s time that you integrate your valuable assets into an inventory system that rewards and safeguards your business. Additional Resources on Inventory TagsFor more information on how inventory tags can help streamline your operation, visit the following resources: Products and Tracking Solutions from Camcode: |