Modern technologies such as cloud computing, mobile apps, QR codes, smartphones, NFC, and Bluetooth low energy (BLE) are revolutionizing inventory management for companies big and small. Discover how these tools can enhance asset tracking and inventory management, boosting productivity and operational effectiveness without breaking the bank or requiring months of software implementation.
How Modern New Technologies Transform Inventory Management
A robust inventory management system consists of both software and hardware components. Traditionally, investing in hardware like barcode scanners, mobile computers, and barcode label printers, along with consulting fees, constituted a significant expense. This expense made inventory management systems impractical for small businesses. However, with the advent of mobile phones, cloud software, smart inventory tags (QR codes, NFC, BLE) and Internet of Things (IoT), inventory management solutions became more accessible, affordable and efficient.Traditional Vs Modern Inventory Systems - What Has Changed?
Here is a brief comparison of software and hardware requirements for the traditional and modern inventory management systems:| Traditional Inventory Management System | Modern Inventory Management System | |
| Inventory Management Software | Desktop software accessible from one computer at a time, limited to office use. | Cloud software accessible from anywhere via computers or mobile devices, facilitating real-time access for authorized users without the need for dedicated IT staff. |
| Scanning Hardware | Barcode Scanners. Need to be connected to a computer or be in a close vicinity for wireless barcode scanners. Can be used only in the office or warehouse, in the vicinity of the computers. | Smartphones. By leveraging smartphones for scanning and data entry, businesses can eliminate the need for expensive hardware. Inventory can be scanned in or out anywhere: on the job sites, in the field, warehouse or office. |
| Data Entry / Look Up Hardware | Mobile Computers. Can be used in or out of the office for barcode scanning, data collection and look up. Each mobile computer can cost $1,000+ | Smartphones. Employees can use their company or their own smartphones for barcode scanning, mobile data collection and data access. Additional capabilities include: taking photos, obtaining signatures, reporting GPS location. In many cases mobile phones do not need to have cell service and can be obtained for under $50 a piece. |
| Tags, Labels & Label Printers | Need a special printer compatible with your software for printing inventory labels. | Modern inventory solutions offer flexibility in printing labels, allowing the use of standard office printers or pre-printed inventory tags. |
Modern Inventory Management Technologies - Overview
By using modern technologies (mobile, cloud, IoT, QR Codes, BLE) you can transform your inventory management process, make it more efficient, accurate and real time. Below is a short breakdown on how each technology improves your inventory management process.
Cloud Software vs Desktop Software
Businesses used to have limited options for inventory management software, typically relying on desktop systems or Excel spreadsheets. These systems were not effective in maintaining a real time inventory stock. They required manual entries, often long after the fact. Field employees had no way to access the system, either for stock look up or updates. Often, inventory data entries were missed, and stock data were nor accurate.Online (web-based, cloud) inventory management systems have transformed the landscape. These systems offer real time inventory updates and data access for all software users. Field employees, warehouse workers, office staff - everyone have an access to live inventory data. Field technicians can do real time inventory data updates without manual notes and double entries. As an extra bonus, cloud systems do not require on site software installations and IT department - the software is supported and maintained by the inventory management service providers.
❱❱ More on cloud inventory software
Advantages of Barcodes And QR Codes For Inventory Management
Barcodes have been a cornerstone of inventory management for decades, enabling fast and accurate inventory processing by eliminating manual data entry errors.QR codes is a modern alternative to barcodes. QR codes take inventory management a step further. They have higher error tolerance, ensuring accurate data even if a part of a QR code is damaged. QR codes can be easily scanned with the smartphones, offering greater flexibility compared to the traditional barcode scanners. Additionally, QR codes can store significantly more data. With a QR code scan you can instantly access product details, including images and documents. This provides valuable insights for field personnel on the spot.
Whether you are using barcodes or QR codes, it is significant stop forward from the manual inventory management technique.
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Making Inventory Management Simple And Real Time Using Mobile Apps
Mobile apps have revolutionized inventory management process by making it simple, fast and real time. Here's how mobile apps are making a significant impact:- Easy to use Mobile apps have simple and user friendly interface. They are much easier to learn and use than traditional barcode scanning equipment, such as mobile computers.
- Scanning of a variety of smart tags Mobile apps are capable of scanning a variety of smart inventory tags: barcodes, QR codes, NFC or BLE. Companies have more choices of which inventory management technology they want to use, and can mix and match them for different asset and inventory types.
- Useful inventory management options Mobile apps give users a lot of options useful or inventory management tasks. In addition to barcode or QR code scanning, users can add photos to inventory records, collect signatures on a smartphone, capture GPS locations, and more.
- Real time connection to the cloud Mobile apps provide a real time connection to the cloud without a need for any additional services or infrastructure. This creates a real time inventory system, where all authorized users can access and update data in a central database in real time.
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Unlocking the Potential of Smartphones For Inventory Management
Smartphones have emerged as cost-effective alternatives to traditional mobile computers, offering similar functionalities at a fraction of the cost. By leveraging smartphone capabilities, businesses can streamline inventory management and asset tracking processes while reducing operational expenses.❱❱ More on smartphone inventory management
Exploring NFC and RFID Technologies
While RFID technology offers advanced capabilities like long-distance scanning and simultaneous tag reading, its high cost remains prohibitive for many small businesses. Near Field Communication (NFC) presents a more affordable alternative, allowing smartphone users to scan tags within close proximity for asset identification.❱❱ More on NFC and RFID inventory management
Automating Asset Management With Bluetooth IoT Technology
Bluetooth low energy (BLE) technology takes asset tracking and management to the next level. BLE tags allow for the bulk scanning with a smartphone, allowing field employees to audit equipment on the entire job site with one click in the mobile app. BLE tags eliminate a need to locate and scan individual assets, which significantly increases efficiency of asset tracking process.Adding Bluetooth IoT gateways to the asset management system makes it fully automated. Gateways scan for BLE tags, process data and send updates to a back end cloud software, without a need for company employees to do any asset tracking tasks. An automated IoT asset tracking system eliminates human errors and frees employees for their main jobs.
>❱❱ More on Bluetooth asset tracking
Inventory management and asset tracking with mobile devices and barcode scanning.
Track inventory and assets in the field, warehouse or office in real time. Always know what you
have in stock, where your assets are, what projects they were used for. Review usage history and trends,
analyze data to improve business process.
Mobile data collection and workflow tracking. Collect data in the field, on the shop floor or
on the job sites using mobile forms. Link mobile forms to your process / workflow. Store
digital documents in the secure cloud, give all stakeholders immediate access to collected data from anywhere.
Physical inventory count and asset audits. Do planned and ad hoc counts using mobile devices for barcode scanning.
Complete inventory counts and asset audits in
hours rather than days or weeks, eliminate errors and miscounts. Immediately identify discrepancies with "on the books" inventory.