From negotiating with vendors to going green, there are plenty of ways for a business to save money. But did you know that investing in an asset tracking system could pay for itself and then some? When you implement a barcode system into your warehouse or factory, you will instantly see a multitude of benefits to how your operations run, which ultimately benefits the bottom line.
Here are some of the ways that a barcoding system could save your business money:
Reduce Human Errors
Did you know that for every 300 characters entered manually, a person is likely to make at least one mistake? Compare this to just one in three million when using a barcoding system and the difference is insurmountable.
When barcodes are brought into play, you reduce the possibility of human error by a serious margin. Whether you’re using a paper spreadsheet or Excel, when you rely on workers to input data manually, you are guaranteed to end up with mistakes, and there could potentially be disastrous consequences if you base any business decisions on this incorrect data.
With a scanner and barcodes for your assets, you reduce the chances of error and the possibility of making wrong business decisions, ensuring you don’t make costly mistakes.
Improve Productivity
Without the hassle of having to collect data manually, you can boost your worker’s productivity. Handheld barcode scanners are quick and easy to use, so rather than having to train new staff so that they are familiar with the inventory or pricing procedure, they can instead be trained on the barcoding system, cutting down on training time and allowing this new employee to become a trained-up member of the team much more quickly.
Your employees will be much more productive in their work now that they no longer have to waste time inputting data manually or checking for mistakes. With the increase in productivity, you may not have to hire additional employees as often when your business grows, saving you money in the long run.
Save Time
Barcode scanners will automatically input data into the system from the barcode labels, eliminating the need for any manual data entry. There won’t be any delays between the generation of the data sheet and the data being entered into the system; additionally, a single barcode can hold a lot of information, so this can all be processed with a single scan. All of this will save a lot of time on the factory floor that can be put to better use elsewhere, allowing you to earn more money with all the freed up, available time.
Increased Customer Satisfaction
With all these time-saving, productive improvements, your customers will ultimately benefit as well from a better degree of customer service. You will be better equipped to address any of their queries and concerns, boosting your reputation among your consumers. Additionally, if you operate in retail, a barcoding system can allow for real-time updates to your stock, so consumers ordering online will know when you are out of stock of a particular product, and when it comes back in stock.
All of this means that your customers will be more likely to do business with your company again thanks to your fantastic customer service, and more likely to recommend you to others, helping to drive your profits.
Reduce Labour Costs
Without the need for manual data entry, you could potentially eliminate an employee on the payroll who is responsible for inputting orders or free them up to move into a different department. Eliminating the need for manual data entry increases your data’s accuracy and saves on the costs of not needing to pay an employee to do these tasks.
Improve Efficiency
With a fully integrated barcoding system, your factory or warehouse can become a well-oiled machine, working completely in tandem to create the best possible outcomes. As barcode scanners will give you all the information in real-time, you will always know exactly what you have in stock on the factory floor at any time and where everything is, so you’ll never have to spend time chasing things up or trying to find missing inventory. Over time, this knowledge will help to inform business decisions, such as getting in more stock that tends to move quickly and reducing stock that tends to stagnate.
You’ll be at the forefront of understanding customer demands and knowing how best to respond. A barcoding system will completely transform the efficiency of your warehouse.
At GSM Barcoding, we provide a wide range of barcode tracking systems and hardware such as asset labels and barcode printers. If what we have in stock doesn’t work for you, we can create a fully tailored solution for your business. Contact us today to find out more.
