How to effectively manage serialized inventory for retail operation?

To have full control of inventory have a clear picture of the total quantity on hand is the most vital piece of inventory data to track. As long as you know the exact amount of each product's stock is entering into the inventory through the back door and going out through the front, your inventory is in your control.

Serialization helps to track your inventory items from receiving from the supplier until their sale to end customers. Labeling serial numbers also help to segregate the same products from different suppliers.

Serializing at Point of Sale

Using POS for retail operations is now becoming necessary to keep track of each item, its purchase, and sale details. It scans the assigned serial number or barcode from the product to load the associated information into the system. Serialization at POS provides extensive functionality to control, manage, and track items with these serial numbers. It enables us to check the history of the individual serial number to trace it in warehouses and to find out which dealer had supplied it and which customer has purchased it.

Serial Number Management

Labeling items and handling them using unique identification numbers is necessary for every retail business AS this makes tracking and billing quite easy. A serial number is a unique number attached to an item and allow the Point-of-Sales machine to easily track what serial numbers are sold to which customers and view items through serial numbers that are available in each of the warehouses.

Additional Serial number for items

Serial number generation in POS systems allows scanning the serial number partially if there is more than one serial number for then items. For example, if you are dealing in mobile phones you may have labels like serial number, barcode, and IMEI number. You can choose to scan only the IMEI number which will add the Item for the billing. POS comes with a variety of system reports for printing the serial numbers. It allows uploading serial number in the system for bulk using excel import option. It also gives the option to reuse the same serial numbers even when they are sold to your customers in the past.

Fast and easy checkout

Serialization enables smart to check out and billing. Check out of sales transactions that can be made just by scanning the serial number and enter the required details. The action for this serial number will be updated into your inventory. Serialization provides a complete solution designed to automate retail billing.

• It helps to process orders quickly with the help of a serial code reader or searching the item quickly without having to type in the entire search.
• Easily manage returns and exchange
• Transparency of stock before adding the item to the current bill

Manage Large Inventory

The efficient management of a large inventory of any retail business items is a critical requirement for a smooth selling process. Serialization helps in easy stock management and provides many intuitive ways of managing, tracking, and correcting your stock.

Consolidated Stock

Serialization offers high-end analytical tools to view the consolidation of inventory stock in many different ways. It gives the view of stock at hand in the hierarchy define through serial numbers, and also allow to view sales figures by these hierarchies. Through this flexibility, retailers can consolidate and print the quantities of products in the sales invoice for rapid re-validation at the exit door.

STOCK TRwithSFER

Serialization provides easy ways to transfer stock from one warehouse to another with a comprehensive audit trail. If warehouses are located at long distances from each other, it helps to keep stock in transit before it reaches to the destination warehouse.

She is a Digital Marketing Strategist in a Software House based in the USA and offers Business Intelligent Solutions. She is writing articles and blog posts for the past six years.