> Smart Inventory Management System
Smart Inventory Management System: Real Time Automated Stock Control With QR Codes And IoT
" Purpose-built intelligent applications are increasingly shaping the future of the supply chain..."
Forbes Magazine, March 2024
What Is Smart Inventory Management System And Why Your Business Needs It
Smart inventory management refers to the use of advanced technologies, electronic tracking devices and data-driven approach
to optimize stock tracking process. The goal of the inventory management system is to ensure that a company maintains the right amount of
parts and materials at the right time and place.
A smart inventory management system reaches this goal with less effort, less human errors and better results.
It provides a real time view into the stock levels and movement
with minimal involvement of the company employees. Modern inventory management tools, such as
smartphones, QR codes, BLE tags, IoT gateways and cloud software automate tracking tasks, and provide
centralized stock access to all authorized software users. The system generates valuable data,
aiding in better planning and use of resources.
Different smart inventory management methods provide various degree of automation,
but all of them allow for the efficient stock control with minimal or no manual labor.
With the QR Inventory software you can pick modern inventory management technologies that are just right for your business process and budget.
Key Technologies In Smart Inventory Management System: QR Codes, NFC, BLE Tags & IoT
Modern technologies allow you to track inventory smarter, with less manual labor and better results.
Smart Inventory Tags
Barcodes And QR Codes
Using QR code tags you can track inventory efficiently, in the field and warehouse, with minimal efforts from the company employees.
It is a cost effective way to control your inventory in multiple locations, and provide live data to all authorized software users.
QR codes can be easily scanned by the mobile devices that your employees use every day - smartphones and tablets. With a QR code scan
company employees can quickly record inventory receiving and usage, as well as access stock levels in other locations.
Using A QR Inventory software you can generate, lay out and print QR code labels, one at a time or in bulk.
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NFC Tags
If you need faster scanning than the QR codes can provide, NFC tags will be a good choice for you. You can consider using NFC tags if you often
need to process high volume of parts and materials, and scanning speed is important.
You still can use smartphones and a mobile app to scan NFC tags. But unlike QR codes, NFC tags do not require you
to focus a mobile phone or tablet camera for each scan. You just touch a tag with the mobile device to add each item to the batch and move to the next one.
A QR Inventory mobile app works with all types of smart inventory tags: QR codes, NFC tags and BLE tags.
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BLE Tags
BLE tags is the most advanced smart inventory management option.
If your inventory is tagged with the BLE tags, recording a
transaction takes seconds, no matter how many items you need to move.
BLE tags allow for bulk scanning, meaning that one click in the mobile app will detect
all nearby assets, and add them to the batch.
With the BLE tags you do not need to locate and scan each item, as you do with QR codes or NFC tags.
And if you do not want to rely on company employees for inventory management tasks, an IoT gateway will do it for you automatically.
BLE tags work similar to active RFID tags, but unlike RFID tags you can scan them with a regular smartphone, either iPhone or Android phone.
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Smart Inventory Tracking Devices
Mobile Phones And Tablets
Mobile phones and tablets that people use every day quickly found their way to the business applications. For inventory management tasks
companies always needed mobile devices, so that employees could move around while scanning inventory and recording transactions.
Mobile phones quickly replaced mobile computers as a more convenient and less expensive option.
Mobile phones can be used for scanning of all types of smart tags (QR codes, NFC, BLE tags). Using a mobile app,
company employees can quickly record inventory receiving, transfer and usage, access info and stock level in all locations.
Mobile phones can connect to the back end cloud software using either wi-fi or cellular connection, and update central database in real time.
Mobile phones create a real time stock tracking system, where all software users have access to live data.
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Mobile Computers And Bluetooth Scanners
In some cases you may not want employees to use their own mobile phones at work. You may have security requirements, or you may need
rugged devices for the harsh work environment. You may also want to have the faster scanning option than mobile phone camera can provide.
If this is the case, you can use a bluetooth barcode scanner attached to a mobile phone, or a mobile computer that runs an Android OS.
In both cases you will be able to use a QR Inventory mobile app. For the fast scanning you can use SocketMobile bluetooth barcode scanner, which is
natively integrated with the QR Inventory mobile app. And you can use any mobile computer that runs Android OS. This will get you rugged device, with
fast scanning using a built-in scanner, and with the flexibility and convenience of the QR Inventory mobile app.
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Bluetooth IoT Gateway
If you do not want to rely on company employees for inventory management tasks, you can use
BLE tags and
IoT gateways for a fully automated system.
An IoT gateway scans for assets tagged with the BLE tags at pre-set time intervals, processes and batches data, and sends data to a back end cloud software.
A software stores data on a remote cloud server, and produces human readable reports that you can access on demand from anywhere.
The
IoT asset tracking system
works on its own - no human participation is required.
You can use dedicated IoT gateways, or use existing network of
iPads or Android tablets
to work as gateways.
An IoT asset tracking system in the QR Inventory software comes with the option to purchase dedicated gateways, or purchase
a software that you can install on Android, iOS or Linux based devices to turn them into the IoT gateways.
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Smart Inventory Management Software Features and Benefits: Real-Time Stock Tracking Made Easy
Inventory management plays an important role in maintaining business operational efficiency.
Access to the real time stock level, materials movement history and low stock alerts ensure that you have the
right parts and materials when and where you need them.
Smart inventory management software system uses modern technologies to automate
tracking process, eliminate manual errors, increase data accuracy and reduce labor costs.
Smart Inventory Management Software Features
- Track parts, materials, and supplies anywhere in real time using a mobile app for QR code or barcode scanning.
- Access important info in the field in the mobile app, with a QR code, NFC or BLE tag scan.
- Use IoT technologies, such as BLE tags and gateways, for the automated
asset tracking and monitoring.
- A Bluetooth IoT gateway
allows you to track and monitor assets without relying on your workforce.
- Data recorded in the mobile app or by the IoT gateways are updated in the central cloud database in real time.
- Give live stock level access for all authorized software users, on the mobile devices in the field and computers in the office.
- Set up auto re-ordering of parts and materials based on the min and max stock levels.
- Monitor sensitive materials remotely with the IoT temperature and humidity monitoring system.
Smart Inventory Management Software Benefits
- Automated inventory management with digital data entries and reduced manual labor.
- Centralized cloud data access for all authorized employees, on the mobile devices and office computers.
- Real time visibility into stock levels, locations, and inventory movements.
- Easy stock tracking across multiple locations, including field, office and warehouse.
- Accurate inventory records, reduced manual entry errors.
- Reduced inventory storage and labor cost.
- Organized digital documents stored in the cloud and accessible on demand from anywhere.
- With the smart inventory management system you have just right stock level - no over-stocking or under-stocking.
- Better production planning based on the analytical data and demand forecasting.
Practical Use Cases for a Smart Inventory Management System
Real Time Stock Management With Smart Tags, Mobile App And A Cloud Software
Modern stock management system enables accurate real time materials tracking in the field and warehouse.
Smart inventory tags (QR codes, NFC, BLE), mobile devices or IoT gateways, and a cloud software create
a system that is easy to use, accurate, and efficient.
Regardless of which tags and tracking devices you are using, all updates are sent to the back end cloud software in real time.
You have a centralized inventory database to which all software users have live access.
More On Smart Stock Management
Automated Construction Inventory Management Using QR Codes Or IoT
A QR Inventory software uses modern technologies to make materials tracking on the job sites fast, accurate and user friendly.
You can track construction supplies and materials for each job through the entire cycle, from purchase order to warehouse delivery,
allocation for the project, delivery to the
job site and usage.
Use a QR code scanning mobile app for the efficient, low cost solution to the construction inventory management.
If you do not want to rely on the job site employees for QR code scanning, you can use a Bluetooth IoT tracking system for a fully automated
asset and inventory management solution.
More On Construction Inventory Management
Smart Service Truck Inventory System
Your service trucks are mobile. So is a QR Inventory software.
You need to be able to track parts and materials that go on the truck and being used fast and error free.
A QR Inventory mobile app allows field service technicians do just that.
Company employees can track service trucks inventory in real time using a QR code scanning mobile app.
Or you can use an
Android based gateway for the fully automated tools and equipment tracking in the service trucks.
Regardless of your choice of tags and tracking devices, an inventory record is updated in the central database in real time.
Authorized software users always have live inventory and tools visibility via a single cloud software web dashboard.
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Parts Inventory Management With Advanced Tracking Technologies
Spare parts inventory management software ensures that you always have required parts on hand for the maintenance and repair jobs.
Missing spare parts lead to the job delays, which impact project delivery.
A smart inventory management system ensures that you always have required spare parts where and when you need them,
and prevents over-stocking.
Field techs use mobile devices (smartphones or tablets) for tracking parts deliveries, loading spare parts to the service trucks, and using
them for the repair and maintenance jobs. Parts stock
is updated in the centralized inventory management system in real time, and can be accessed on demand by all authorized software users.
If a required part is not available on the
service truck, a field tech can quickly check part stock in the other locations in a mobile app. He can then quickly get a part from the closest site.
More On Parts Inventory Management
Non-Stock Inventory Management Software For Construction Projects
Construction jobs often require tracking of non-stock inventory and assets. These are parts and materials that are not stocked, but are ordered
as needed for each construction project.
Non-stock assets can be supplied by the customer, ordered from a vendor or fabricated on demand within the construction company.
A QR Inventory software allows you to easily track this kind of non-stock assets and inventory for the construction projects,
from receiving or fabrication to installation on the job site.
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Using Smart Technologies For Lot Number Tracking & Traceability
Track lot numbers and serial numbers of used parts and materials through the production process from start to finish.
Replace physical paperwork with the digital records that you can access on demand
from anywhere.
Use mobile app for the fast and efficient lot numbers tracking and data recording.
Trace serialized parts and materials from the origin to the final product.
Quickly find where and when finished products were distributed in case of a problem or recall.
More On Lot Traceability
Inventory Management Software With Bill Of Materials (BOM)
Regardless of what you are manufacturing - unique on demand orders or generic products, and how complex your assemblies are,
you will be able to efficiently manage them using a QR Inventory smart inventory management system.
You will be able to create a multi-level bill of materials (BOM) from parts via a cloud software web interface.
Shop floor employees will use a barcode scanning mobile app to track the entire assembly building process in real time.
This can be as simple
as recording the creation of multiple generic assemblies with one QR code scan,
or as complex as tracking a process of building a multi-level assembly that spans days or months.
Stock level is automatically adjusted as you use parts and materials for the assemblies building.
More On Inventory Management With BOM
Intelligent System For Just In Time Inventory Management
Just in time (JIT) inventory management method allows you to control cost by keeping stock levels low. You also risk to delay the project delivery if you do not have
an inventory management software in place, that allows you to always stay on top of purchase orders and delivery schedule.
An automated inventory management system simplifies this task for you.
With the mobile app you can efficiently track materials ordering, deliveries and usage.
In the QR Inventory software, you can track received materials against a PO, and receive alerts if a purchase order is not fulfilled on time.
As you start working on the project, track WIP and assemblies building
on the shop floor in real time.
Access live project progress via the cloud software web dashboard. Make sure that the project moves along as scheduled,
and that you have all parts and components
for the next steps.
More On JIT Inventory Management
Stocktaking / Physical Inventory Count
Use a mobile app and barcode or QR code scanning to do physical inventory count fast and without errors.
Multiple employees can take part in the physical count
at the same time, working in their designated warehouse zones.
An employee always sees a running batch in the mobile app, can do corrections if needed and submit
count in batches to the back end cloud software. Admin software users can review running totals at any time via the web dashboard.
Once count is completed, you get a report on the total count, submitted batches and discrepancies, if any.
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Smart Inventory Management System FAQ
Frequently asked questions on the QR Inventory system.
Using QR Codes For Inventory Management
QR code inventory management is a low cost option that allows you to track parts and materials efficiently, in real time, with minimal manual entries.
Learn more on how to manage stock using QR codes, and how a QR code
inventory management is compared to the more advanced methods, such as
Bluetooth inventory and asset tracking.
❱❱ Using QR codes for inventory management
Real Time Inventory Tracking With A Mobile App
A mobile app simplifies inventory management in the field, on the job sites and in the warehouse. A mobile app allows you to use
barcode or QR code scanning for stock tracking without purchasing special equipment. It allows you to easily collect
data in the field, including photos and signatures. You can capture GPS location and review assets location on the map.
A mobile app provides a link to the back end cloud software and central database. This allows field employees to instantly access
and update inventory info with one QR code scan, and gives all team members access to the same live data.
❱❱ Field inventory tracking in mobile app
Do You Need An IoT Gateway: BLE vs GPS Asset Tracking
People often confuse BLE and GPS tags, assuming that BLE tags will provide them real time asset location anywhere without any additional tools.
This is not entirely correct - BLE tags need a gateway or a smartphone to transfer asset data to the cloud software.
If you want to track assets on the move vs designated locations, you need GPS tags. Alternatively, you can use BLE tags, but you also need an employee with a smartphone
close to an asset you want to track. Learn more on differences between BLE tags and GPS tags, and if you need a gateway in this fAQ article.
❱❱ BLE IoT gateways vs GPS tags for asset tracking
Inventory Management With Bill Of Materials (BOM)
Using an
assemblies & kits - BOM inventory management
module you can track building of generic and serialized assemblies against a bill of materials list. You can check what you can build out of materials on hand,
what you need to order for the upcoming jobs, and which lot numbers and serial numbers of parts were used for each serialized assembly.
❱❱ Bill of materials inventory management
More QR Inventory FAQ Articles
Modern Smart Inventory Management - Blog Articles
Learn how you can optimize inventory management process with the modern technologies, such as QR codes, NFC, BLE, mobile, cloud and IoT.
Centralized Cloud Inventory Platforms
Cloud-based centralized inventory management platforms with connected mobile apps are transforming inventory management process.
These systems provide real time visibility into stock level and movement to all authorized company employees,
in the warehouse, on the road, or in the field. Mobile app allow field employees easily record inventory transactions as they happen,
providinglive data to all stakeholders.
❱❱ More on Centralized Inventory Platforms
Using AI For Automating Inventory Mangement
Using AI businesses can automate stock tracking and replenishment, predict demand, optimize stock levels, onboard and train employees.
AI can help you detect inventory anomalies, and improve warehouse operations. Combining AI with the modern inventory and asset tracking technologies,
such as Bluetooth low energy (BLE) and Internet of Things (IoT), you can create a fully automated system that tracks assets and inventory,
allocates materials for projects, auto-replenishes stock, and optimizes your workflow.
❱❱ More on AI Inventory Management
Overcoming Construction Inventory Management Challenges
Construction inventory management presents unique challenges due to the dynamic nature of projects, diverse materials, and remote work sites.
Common issues include inaccurate tracking, theft, and supply chain disruptions. Effective strategies to overcome these challenges involve
real-time inventory tracking systems, regular audits, and strategic partnerships with suppliers.
By implementing these solutions, construction companies can improve efficiency, reduce costs, and ensure project success.
❱❱ More on Overcoming Construction Inventory Challenges
More Inventory Management Blog Articles
