Serial numbers are unique, offering excellent inventory control. The differences between a serial number and how it differentiates from other identification codes or item numbers are crucial for businesses to understand.
A serial number is a unique identifier for a specific item or product. A lot number describes a collection of products or parts that were produced from a particular production run. Therefore, all products should have the same batch number in a particular production run.
Serial numbers can be represented numerically as well as alphanumerically and vary from product identifiers such as bar-codes, lot numbers or batch numbers. Identifiers of the item signify a batch, a lot, or the particular manufacturing period in which the products are manufactured or handled. The handling of electronic devices will be an increasingly important aspect of inventory management software, from cell phones to 3D printers to MRI machines, and everything in between.
When everything runs as it should in the business, serial and batch numbers can appear to be an unnecessary job for admin. Furthermore, if your customer calls to inform you about the product that you sold them is wrong, the time taken to introduce serial/batch number traceability would pay back many times.
Improved accuracy
Through recording serial numbers as the product is provided, but also when an item is delivered, serial numbers increase tracking versatility. By eliminating the need for multiple databases that cause confusion and increase error rates, the streamlined design of serial number tracking helps to improve the reliability of your stock control.
Serial numbers also provide expiry records and best by dates that allow you to control what inventory is selected and delivered, minimizing the incidence of waste first by shipping older stock through perish-ability or obsolescence.
With the help of an excellent and well-versed inventory management software, you can easily track the devices. Therefore, serial numbers help to maintain a service quality standard by offering the ability to monitor and assess each production or delivery point. These can be used to monitor any service problems, faults, and product defects as well as to enhance search or reporting functions.
Reduced data entry and errors
Tracking the serial number is one of the easiest ways to reduce data entry and errors. Each change, sale, or order is more reliable and better tracked with each service or item numbered. The use of mobile and barcode technology optimizes the use of serial numbers and is especially useful for manufacturing companies or those with a wide variety of inventories.
Provide better customer service
The company can easily handle and examine warranty claims and either offer a swap, return refund, or request a complete recall if the problem is due to faulty manufacturing or production. You can also provide specific details about your design to your customers based on the serial code.
Prevent fraud
You can make sure that the returned item is the same product you sent, simply by checking whether the serial number is the same.
Reduce the risk of failure
It can be a big mistake to make a shipping error while dealing with heavily regulated companies and products. But you’re going to avoid the risk with properly organized serial numeration.
Sales analysis
Each sale and delivery will provide you with business information, top customers, and remaining inventory. You can easily view these stats at any time with an organized system.
Inventory Control
Serial numbers and the system of monitoring they provide are critical to the management of stocks. They give companies the ability to maintain quality control by providing the means to help address warranty claims or to conduct a product recall if necessary.
Via integrated tracking with other business systems and applications, serial numbers also help facilitate better stock management. These include the ability to integrate technology for buying, stock control, and billing.
Features of an inventory management software:
- Sophisticated User-defined serial number pattern.
- Expiration dates can easily be mentioned for any lot.
- On-screen inquiry by part, all lot numbers and serial numbers received/shipped for that part.
- Auto serialization upon shipping or receiving.
- Record serial numbers for components used within a BOM.
Tracking serial numbers makes processing and shipment less complicated and saves time. Simplifying your processes and monitoring products accurately ensures that you will always know where to find what you need and easily validate it as the right product. Therefore, without the chance of sending the wrong product, you could deliver more goods faster.
Keeping a detailed record with the inventory management software of your items would create a more transparent experience for everyone. You can keep up-to-date from anywhere with a program that is easily accessible via a computer or mobile device.
