Effective inventory management is crucial for any business, whether you're a small startup or a large enterprise. It ensures that you have the right products in the right quantity without overstocking or running out. But as your business grows, managing inventory can become a complex and time-consuming task.
In conversations with our customers, we’ve found that inventory management is often one of the toughest challenges in many businesses. We spoke to one dentist’s office that told us the story of having to give away supplies after accidentally over-purchasing when they couldn’t find the inventory they already had. Expiration dates on inventory adds another level of complexity. Storage space costs money, but storing inventory so tightly that things are harder to find can also cost money if you can’t find it when you need it! One customer had to send a worker to a sister location three hours away to fetch an essential item of inventory that was not able to be located locally.
That's where QR codes come in, revolutionizing the way we track and manage inventory. In this blog, we'll explore how QR codes work, why they've replaced traditional barcodes in inventory management, and how you can implement a QR code system with Scanlily.
What is Inventory Management?
Inventory management involves overseeing the flow of goods from manufacturers to warehouses and from these facilities to the point of sale. It includes tracking and controlling inventory orders, storage, and the quantity of product for sale. Efficient inventory management ensures that a business can meet customer demands without overstocking or wasting resources. Traditionally, businesses relied on manual methods or barcodes to manage inventory, but as technology evolved, so did the tools.
Why Shift from Barcodes to QR Codes in Inventory Management?
QR (Quick Response) codes were first developed in 1994 by Denso Wave, a subsidiary of Toyota, to track vehicle parts during manufacturing. Unlike traditional barcodes, they store more data and, for a variety of reasons, can be scanned more quickly and from any angle. Over time, QR codes expanded beyond the automotive industry and became popular in various fields, including inventory management.
QR codes, on the other hand, offer several advantages:
Increased Data Capacity: While a typical barcode holds about 20-25 characters, a QR code can store up to 7,000 characters. This allows QR codes to encode more complex information like URLs, text, and even small images.
Faster Scanning: QR codes can be scanned from any direction, thanks to their two-dimensional structure and the distinctive positioning patterns at three of their corners. In contrast, barcodes are one-dimensional and require a specific orientation to be scanned correctly, making QR codes more convenient for quick and accurate scanning. This leads to faster scanning from any angle, even by lower-quality cameras.
Error Correction: QR codes have built-in error correction capabilities, meaning they can still be read accurately even if part of the code is damaged or obscured. This is particularly useful in real-world conditions where the QR code might be smudged or partially covered.
Compact Size: QR codes can store the same amount of information as a barcode but in a much smaller space. This makes them ideal for use on small products or within confined spaces.
Versatility: QR codes can encode different types of data such as numeric, alphanumeric, byte/binary, and even Kanji characters, making them more versatile than barcodes, which are typically limited to numeric or simple alphanumeric data.
Error Correction: QR codes have built-in error correction capabilities, meaning they can still be read accurately even if part of the code is damaged or obscured. This is particularly useful in real-world conditions where the QR code might be smudged or partially covered.
These benefits make QR codes a more efficient and scalable solution for modern inventory management. It can solve additional problems for businesses, such as managing expiration dates. Using the Scanlily app, it’s possible to add not only an expiration date but also a reminder that the product will expire soon. Scanlily can also help extend the life of existing equipment by recording repairs that are made and setting up maintenance reminders.\
How To Set Up and Use a QR Code System
Setting up a QR code system for inventory management is straightforward with Scanlily. Here’s how you can get started:
Get QR Codes: Buy Scanlily QR codes from Amazon. Scanlily QR code comes with a unique URL. You can also print your own QR codes.
Label Your Inventory, scanning into Scanlily along the way: Attach the QR codes to your individual physical assets or to the containers/bins which contain them. A tip when adding the QRs onto containers or items is to first scan the QR on your finger before adding it to the item. This increases your speed of inventorying many items. After you scan, you can take a picture of the item and add other attributes about it. Scanlily supports the concept of nested containers - so a container can contain other containers.
Specify Inventory Quantities: If you decide to label containers with QRs, you have the choice of whether to itemize the items inside the container or to simply provide a count. The latter would be useful if the container is a bin containing multiple of the same item. In that case, you can specify a quantity of items in that bin. In Scanlily, you can even set Quantity alerts, which cause alerts to be sent if an inventory quantity falls below a certain level. You can also indicate how many of a multi-quantity item are at different locations. This can help you track shipping and receiving between you, your vendors and your disparate locations.
Monitor and Manage: Use Scanlily’s dashboard to monitor your inventory in real-time. The GPS location of your items are updated with each scan - so you can see where items are on a map. If you are tracking item quantities, a dashboard option can show you stock levels that have fallen below specified levels - alerting you when items need reordering.
Customize Your Workflow: Scanlily allows you to customize notifications, set reminders for reorders or maintenance, and generate reports, making inventory management seamless.
Benefits of Using Scanlily for Inventory Management
Using Scanlily for your QR code inventory management offers several unique advantages:
1. User-Friendly Interface: Scanlily is designed to be easy to use, even for those with little tech experience. The app guides you through each step, from creating QR codes to managing inventory.
2. Mobile and Web Integration: Access your inventory from anywhere with Scanlily’s cloud-based system. Manage your inventory on the go with the mobile app, or use the web interface for a broader view.
3. Cost-Effective: Scanlily offers a scalable solution that grows with your business. Start with the basics, and as your business expands, take advantage of advanced features like multi-user access and detailed reporting.
4. Real-Time Tracking: Stay on top of your inventory with real-time updates. Scanlily ensures that your stock levels are always accurate, reducing the risk of overstocking or stockouts.
5. Custom Integrations: Scanlily seamlessly integrates with popular payment and invoicing tools like QuickBooks, ensuring smooth alignment with your business's existing systems.
Conclusion
QR codes are transforming the way businesses manage inventory, offering a more efficient, scalable, and flexible solution. With Scanlily, implementing a QR code system is straightforward and cost-effective, giving you the tools you need to stay organized and efficient. Whether you’re a small business owner or managing a large inventory, Scanlily’s QR code system can help you take control of your stock, reduce errors, and save time.
Ready to streamline your inventory management? Get started with Scanlily today and see the difference QR codes can make.
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