We’ve said it before, and we’ll say it again: automated inventory management should be one of your primary concerns when it comes to order processing.
Whether you operate your fulfillment process in-house or through a third-party fulfillment partner, it’s critical to use a tracking system that is efficient for your brand and its specific needs.
This post discusses different inventory management systems, their advantages and disadvantages, and the automated method Falcon Fulfillment uses to succeed.
Forms of Inventory Management Systems (IMS)
Inventory is a big concern when it comes to fulfillment and actually sending orders to your customers.
In the beginning, it’s fun and simple, but as inventory and orders increase, you find yourself in a tight and stressful situation.
By understanding various inventory management systems, you’ll be able to make informed and confident decisions for your company’s fulfillment process.
Perpetual Inventory Tracking
A perpetual inventory tracking system is best suited for brands with high sales volumes and several retail locations, such as a pharmacy or a grocery store.
All purchases, refunds, and new product arrivals are monitored electronically and entered into inventory software.
This inventory management system is popular and efficient among high-volume sellers, however, it is costly and restricts real-time data.
So, even though your automated inventory management will be decent, it won’t be perfect.
Periodic Inventory Tracking
Periodic inventory management systems are conducted, well, on a periodic basis throughout the year.
This IMS is ideal for businesses that do not sell in large quantities and manual inventory control is not a major burden.
Businesses such as auto dealerships, art galleries, and even food banks would fall under this classification.
Despite its potential for success, this method is most susceptible to human error.
Automated Barcode Inventory Tracking
The use of barcodes to monitor your inventory outperforms all other inventory management systems in terms of accuracy and real-time results.
Inventory tracking is simplified when all products and shipments have barcoded SKUs.
Barcode IMS is ideal for large-volume companies that need high accuracy rates. It’s why health, wellness, and beauty brands generally go with fulfillment providers who have an automated inventory management system with barcode tracking.
We use a barcode automated inventory management system to scan each product and immediately upload it into a transparent database.
This enables you to keep track of your constantly changing inventory in real-time.
The Benefits of Automated Inventory Management with Barcode Tracking
As with any inventory management system, each one has its own set of advantages. However, a barcode inventory management system is quickly becoming superior.
This is due to the fact that it offers two important features: accuracy and efficiency, which are the two most essential aspects in a strong, dependable, and consistent fulfillment channel.
Improves Accuracy by Limiting Human Error
The accuracy rates of a barcode system far exceed other inventory management systems. So, how does it manage to be so consistent?
Falcon is rapidly improving fulfillment standards by utilizing a barcode inventory management system to maintain a 99.9% accuracy rate. Here’s how our barcoding system works:
The picking process is verified for accuracy three separate times: when an order is received when an item is picked, and again when it is packaged and shipped. We are notified when a sale is complete and we then begin collecting the order.
A specific team member will scan the barcode on the order and see what specific items they need to include, and where those items are located.
Our team will select, scan, and pick each item until the order is complete. We verify order accuracy three separate times during the picking process: once when we receive the order, once when we pack the order, and once more as we package and ship it out.
This approach limits mistakes and provides a 0.01% chance of error.
Allows Full Transparency and Maximized Efficiency
A barcode system allows tracking of every order, product, and location in real-time.
By directly linking to your e-commerce shopping cart, we’re provided with instant notifications on orders.
Once onboarding is complete, check in and see where your inventory is standing at any given time.
By monitoring each detail of the fulfillment process, we’re able to maximize efficiency and promise our clients a 99.9% fulfillment success.
Why Falcon’s Accuracy Rate is 99.9%
Here at Falcon, we take fulfillment seriously. That’s why we’ve educated ourselves in modern IMS and have chosen the one that is most accurate, cost-effective, and fast.
We carefully train our employees to follow technical procedures and ensure your data is accurate within our database.
At Falcon, we let our software do the heavy lifting so our staff can be more focused, limiting accidental errors.
By utilizing a barcode fulfillment platform, we’re able to consistently outperform our competitors with speed and accuracy.
