How can you ensure inventory accuracy with product serialization, lot tracking, and special labeling?

I have seen several cases where barcode doesn't help much while take out loose package from the total package where barcodes are fixed.

Product serialisation, lot tracking and special labelling are critical control tools that key to inventory management. Product serialisation makes it easier to achieve accuracy because products numbering or serialisation for a unique and sequential numbers which make it easy to detect missing, non-existent and stocks not physical verified. It becomes easy to match stock existence (in warehouse) and recorded inventory and investigating variances hence accuracy. Unique identifiers such as bar codes and tags are essential to track inventory. Lot tracking and unique labelling makes it ease to control. Ensures accuracy through showing that some serial numbers are missing, duplication, non-existence, theft and moving stocks during stock counts.

Product serialization can become cumbersome within a warehouse if the cycle counting is administered to verify the accuracy within a rack location. We need to scan serial numbers especially in loose locations to verify the counting to be accurate. To prevent this, serial numbers could be captured only during shipping. This way, you still can track the origin of the product by serial number.

Product serialization, lot tracking, and special labeling provide unique identifiers for precise inventory monitoring, ensuring accurate tracking of individual items or batches throughout the supply chain.

Utilizing advanced inventory management systems that support serialization and lot tracking can significantly enhance accuracy. These systems provide real-time tracking of each item or batch, allowing for precise monitoring of stock levels, locations, and movements. They can also automate the labeling process, ensuring consistency and reducing human error. While periodic manual audits are a common practice, relying solely on them can lead to discrepancies in inventory records. Continuous monitoring through automated systems provides a more accurate and up-to-date picture of inventory levels. Manual audits should complement, not replace, these systems, providing an additional layer of verification.

A key consideration for those using 3PLs is to ensure your 3PL can commit to tracking lots on all inventory moves. Having an ERP with lot tracking enabled won't matter if the integrated 3PL doesn't push the lot information over the API.

With the ERP system in place, lot management based on FIFO, FEFO, LIFO, etc., becomes easily manageable for anyone. In practice, when manually entering data into the ERP system, it's crucial for data entry operators to ensure accuracy, including key details like the GRN date and expiration date

In my experience automation is the key here. Adding low cost reusable rfid tags should be used. The rfid scanners must transmit data in real time to all the erp systems. The erp systems should be connected to the upstream and downstream (retailer/wholesaler and material supplier) to ensure visibility throughout the supply chain. The key in the success of any system is through communication and openness throughout the value chain.

ensuring inventory accuracy with product serialization, lot tracking, and special labelling involves implementing robust systems and processes to track inventory movements and identify individual items within the inventory. Here are some strategies to achieve this: Product Serialization/Special Labelling/Barcode and RFID Technology/Integration with Inventory/Regular Audits and Reconciliations/Employee Training and Awareness

Lot tracking can become cumbersome when there are pick locations by lot numbers within an item. For instance, one customer insists that all products shipped should have only one lot number. This causes problems in DC processing of such orders when there is not inventory for that lot number but have enough inventory for multiple lots.

Agree on this. Due diligence should be done not to add more labor cost for Value added service charges. Labor cost may add more problems in ROI.

Use of a dependable WMS is always needed, adding rfid, good documentation of SOP's is key. Look at providers listed in INBOUNDLOGISTICS Magazine, publisher Keith Biondo! Magazine is free monthly in print or digital format, mention Bill Stankiewicz SAVANNAH SUPPLY CHAIN GUY, located here on LinkedIn. Best regards.

Inventory management software can help you ensure inventory accuracy by integration with your products serialization s. Inventory management software is a tool that helps you automate and optimize your inventory processes, such as ordering, receiving, storing, picking, packing, and shipping. lot tracking, and special labeling systems, and providing real-time data and insights on your inventory performance. It can also help you streamline your workflows, increase your efficiency and productivity, and reduce your costs and risks.

Inventory management help all of above but if one product miss would let to mishap as finding in batches would be needle in hay . The ground rule is to be adhered by people who closely work daily chores

To ensure inventory accuracy, implement regular cycle counts, conduct regular physical inventory audits, use barcode scanning or RFID technology, track and update inventory in real-time using an inventory management system, train employees on accurate inventory management, and establish strict quality control procedures to prevent errors and inconsistencies.

To ensure inventory accuracy with product serialization, lot tracking, and special labeling, one can follow these practices: ? Implement a robust tracking system that supports product serialization, lot tracking, and special labeling. ? Capture and record serialized data accurately in an inventory management system. ? Maintain up-to-date records of serialized products, including associated attributes such as lot numbers and special labels. ? Conduct regular audits and cycle counts to verify inventory accuracy. ? Train staff on serialization and tracking procedures and establish clear standard operating procedures (SOPs). ? Perform regular reconciliation and verification between recorded data and physical stock. ? Monitor and address issues

Audits of inventory is important, many companies still do an annual inventory of distribution facilities and regional locations.

I’m sure inventory control tools have advanced exponentially since the early 70s when I managed dealership auto parts. The principles remain the same. I brokered the sale of a liquor store. When I asked the “manager” about perpetual inventory, the blank stare told me we were in trouble. An independent count showed >20% missing!!

Great training programs available at CSCMP, WERC, IWLA and your local community colleges at reasonable rates ?? ??. Here to help for free are great influencers posted on LinkedIn too.

One thing I would like to add in this is that Quality check reference should also be added in the Serialisation or barcode reader. Other than that Storage area or Racks are a very important perspective to be considered while keeping the upkeep of the inventory. Even in a certain industry there are different types of material size, shape and weight are received. If we generalize all of them and keep them in Racks or on Floor could mess up the inventory. So in my point the Storage area should also be considered an important factor.

All of those questions do not relate to my business. I'm in the transportation business as of right now. So very close to being retired by next year and planning on turning my business over to my driver. At one time, I did have warehousing capabilities. At this time, it's strictly transportation services that I provide.

Inventory management is the core of the business.Poor Inventory Management willl definetly lead to loss ,poor Supply chain planning and poor forecast. Investing in a cycle count clerk deidcated to daily counts is NOT an extra cost especially for large warehouses.ITS 0.0003% of the alternative. The larger the inventory the more the frequency of inventory count that is needed.