Serial numbers or SN’s have become a part of our daily lives. You’ll find these unique identifying codes in every space of life. They’re on our phones, printed on the engine of our cars, engraved on the packages we receive from the delivery guy, and much more. These can be numerical, contain alphabets or symbols, or can be a hybrid of all three. The most important aspect of the number is that it is matched to a single product or component.
Serial numbers are an important aspect of inventory control and management. Here’s everything you need to know about serial number tracking and why they are used in stock control.
Useful In Product Recall
Serial numbers are useful in product recalls and can save a lot of hassle and time for manufacturers. For example, if you’re a manufacturer with a global presence and your products are scattered across the world. You find some faulty products returned to your headquarters, and after some investigation, you find out that there is a problem with one of the raw materials used which is supplied by eight different suppliers. However, only one of them has supplied you with faulty materials.
Without having serial numbers attached to your product, you’ll have to recall all your stock which will cost a lot and waste time. By having a serial number, you can identify which batch the product belongs to and recall all the items from that batch. Instead of recalling millions of products, you’ll only need to recall thousands in the affected batch.
Used For Compliance
Serial numbers are also used for legal compliance. A good example is the VINs stamped on the engine of our cars. It indicates where and when the car was manufactured and the unique part of the code which is the personal identification of the car. One of the most common uses of serial numbers for compliance is in firearms, where it is a requirement for every gun to have a unique serial number.
Important For Inventory Control
One of the biggest advantages of using serial numbers is that it can improve inventory control and management, especially with products made with several components. You can track inventory down to the individual component level with the help of serial number tracking. Time is saved as you wouldn’t have to spend a lot of time looking through boxes to find the right part.
It is also much easier to order components from a supplier as you can track down the products that need replenishing.
Barcodes and serial number tracking are a great way to streamline your inventory management process and get control over your production. If you’re looking for barcode inventory management software to help you with your stock control, then check out AltheaSuite.
A batch tracking inventory management by AltheaSuite can help you improve your business process and increase work productivity. Our comprehensive cloud based inventory management software is a one-stop solution for all your ERP needs.
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