Serialised Stock Management

What is Serialised Stock

Serialised inventory tracking is a method of tracking individual items in inventory by assigning each item a unique identifier or serial number. This allows companies to track the movement of each item in real-time, from the point of production to the point of sale or delivery.

Serialized inventory tracking provides greater visibility into inventory, allowing companies to manage inventory more effectively and optimize their supply chain.

Benefits of Serial Inventory Tracking

With serialised inventory tracking, businesses can:

1. Track inventory at a granular level: By assigning unique serial numbers to each item, companies can track individual items through the entire supply chain, from production to delivery. This provides greater visibility into inventory and allows for more accurate tracking of inventory levels, reducing the risk of stockouts and overstocking.
2. Manage product recalls: Serialised inventory tracking makes it easier to identify and track specific items that may need to be recalled. In the event of a recall, companies can quickly identify affected products and take the necessary action to remove them from the supply chain.
3. Improve customer service: Serialised inventory tracking allows companies to provide more accurate and timely information to customers about the status of their orders. By tracking each item individually, companies can provide real-time updates on the location and status of each item, improving the customer experience.
4. Enhance inventory accuracy: Serialised inventory tracking can improve inventory accuracy by reducing the risk of errors and miscounts. With each item assigned a unique serial number, companies can more easily reconcile inventory counts and identify discrepancies.

Overall, serialised inventory tracking provides companies with greater visibility into their inventory and supply chain, allowing for more accurate inventory management, improved customer service, and better supply chain optimization.