If you want your business to succeed and take that next step, having efficient inventory management is crucial. In fact, according to a study conducted by the National Small Business Association (NSBA), poor inventory management is one of the top reasons for small business failure. Inefficient inventory practices can lead to stockouts, excess inventory holding costs, and decreased profitability. Proper inventory management ensures you can accurately track stock levels, minimize stockouts, avoid overstocking, and optimize operations. Think of it this way… As your business grows and it adds more products to its inventory, manual bookkeeping becomes even more hectic, inefficient, and error-prone. With a barcode system, however, you can easily track your items and speed up checkouts. A barcode inventory system will keep your inventory updated as new items come and go. No need to do painstaking inventory checks by hand, and there’s a smaller room for errors and miscalculations. One solution that has gained popularity in recent years is barcode thermal labels for enhancing inventory management processes, especially for small and medium-sized businesses. These labels offer a practical and efficient way to track inventory, improve accuracy, and save time for small and medium businesses. CONTENT I. Streamlined Inventory Management Automated Data Entry and Tracking Real-time Updates and Accurate Stock Control Improved Efficiency and Reduced Human Errors II. Cost-Effective Barcode Solution Savings on Ink and Toner Cartridges Lower Maintenance and Replacement Costs Scalability and Affordability III. Making a Barcode Inventory System for your Business SKUs and UPCs Choosing the Right Thermal Label Barcode Scanner IV. Conclusion Streamlined Inventory Management One of the main benefits of these labels is that they allow you to streamline your inventory management. If your business is scaling up and is spending a lot of time sorting out inventory data, using these labels can help make the process smoother and more efficient. 1. Automated Data Entry and Tracking Barcode thermal labels allow you to automate data entry and inventory tracking processes. With a simple scan of the barcode, your employees can quickly update inventory records and store relevant information. It eliminates the need for manual data entry, saving time and reducing the likelihood of errors. “A study conducted by GS1 UK reported that using barcodes can save up to 60% of the time compared to manual methods. Employees can scan the barcode to update inventory records, eliminating the need for manual recording or searching through spreadsheets.” 2. Real-time Updates and Accurate Stock Control By incorporating barcode labels into your inventory management system, you can achieve real-time updates and accurate stock control. Each scan instantly updates the inventory database, providing up-to-date information on stock levels, location, and movement. This real-time visibility helps you make informed decisions, prevent stockouts, and optimize inventory levels. Some of our clients here at enKo shared that our Brother thermal barcode labels helped them reduce the stockouts of their small clothing retail business by 30% and improve inventory accuracy by 20%. It ultimately led to better customer satisfaction and increased sales 3. Improved Efficiency and Reduced Human Errors Barcode thermal labels streamline inventory-related tasks, increasing efficiency and reducing human errors. Manual inventory management processes are prone to mistakes, and it’s easy for your employees to input the wrong data or misplace a stock, especially if you have a growing inventory. Barcode labels eliminate these errors by providing your business with a standardized and reliable way to capture data. It makes the process more accurate and efficient and reduces the time spent correcting errors. Need to find Barcode Thermal Labels? Visit enKoProducts.com or call at +1-(877) 465-2823 to order your labels. SHOP NOW Cost-Effective Barcode Solution But what makes these labels great, particularly for small businesses, is that they are very cost-effective. It allows your business to optimize its inventory management without breaking the bank. 1. Savings on Ink and Toner Cartridges Barcode thermal labels utilize thermal printing technology, not requiring ink or toner cartridges. Unlike inkjet and laser printing, this eliminates the need for costly consumables and reduces ongoing printing expenses. Your business can save much on ink and toner costs (up to $10,000 annually), especially if it regularly prints volumes of labels. 2. Lower Maintenance and Replacement Costs Thermal printers for barcode labels typically have fewer moving parts and require less maintenance than inkjet and laser printers. That means you will enjoy lower maintenance costs related to breakdowns or malfunctions. Additionally, the labels are durable and less prone to fading or smudging, minimizing the need for frequent label replacements. Features Barcode Thermal Labels Inkjet Barcode Printer Labels Laser Barcode Printer Labels Cost-effectiveness Relatively low Higher Higher Implementation Cost $100-$500 $500-$1,000 $1,000 – $3,000 Durability Up to 2 years 3-6 months 12+ months Printing Speed 4-8 inches per second 2-4 inches per second 4-6 inches second 3. Scalability and Affordability Barcode thermal labels are scalable and affordable, making them an ideal choice for small businesses. The implementation costs are relatively low, as they do not require complex equipment or extensive training. Your business can start with a small batch of labels and gradually expand its usage as it grows. This scalability allows small businesses to adopt barcode thermal labels within budget constraints. Making a Barcode Inventory System for your Business If you plan to set up a barcode inventory system for your business, here are several important tips that may help you. 1. SKUs and UPCs The first thing you need to consider is assigning SKUs and UPCs to your items. SKUs, or Stock Keeping Units, automatically track your inventory’s movement. The SKU has an alphanumeric combination of eight-or-so characters that serve as a code for tracking costs, product details, and other information. On the other hand, a UPC or Universal Product Code is commonly used worldwide for tracking trade items in stores, and it usually has 12 digits uniquely assigned to each trade item. The key difference between the two is that the SKU is for internal use within a company and is unique to individual retailers or manufacturers. Meanwhile, UPCs are universal and can be used to identify products regardless of who sells them in the future, making them ideal for external use. You can print your own UPCs for your business with UPC labels from enKo Products. You can choose different colors and sizes that work with popular label printer brands like Dymo, Zebra, and Brother. 2. Choosing the Right Thermal Label There are two types of thermal labels: direct thermal and thermal transfer. Each type has distinct advantages and disadvantages, and the right option will depend on your needs and circumstances. Direct thermal labels cost less overall but are less durable and long-lasting than thermal labels. Learn more about the difference between direct thermal labels and thermal transfer labels. If you want a more in-depth guide on how to choose the right thermal barcode labels for your business, you can check out our blog (Follow up Blog we will make) Compatible Dymo 30336 Labels 1″ x 2-1/8″ SHOP NOW Compatible Direct Thermal Labels2-1/4″ x 1-1/4″ SHOP NOW 3. Barcode Scanner Lastly, you need to decide on a barcode scanner that you will use for your inventory management. There are generally two types of scanners in the market today: wired and wireless. Wired scanners cost less but are less portable than wireless ones with batteries and memory cards for storing data. Generally speaking, wired scanners are ideal for checking out customers, while wireless scanners work great for warehouse inventory management operations. Once you have your SKUs or UPCs, a barcode thermal label printer, and a scanner, all you need is inventory management software, and you’re all set! RELATED ARTICLES Direct Thermal vs. Thermal Transfer Printing Technology How Thermal Labels Make Small Businesses Efficient & Cost-Effective Introduction to Product Labeling Conclusion Adopting barcode thermal labels is a strategic decision if you are a small or medium business owner striving for success and growth. Having streamlined inventory management with minimal costs will give you a competitive edge in today’s fast-paced business landscape. With these labels, you can improve your business’s operational efficiency, reduce errors in inventory data processing, and provide a superior customer experience. It is an investment that pays off in the long run through higher profits, efficient resource management, and better customer satisfaction. Tags: Barcode GuideBrother DK LabelsDirect Thermal LabelsDymo LabelsZebra Thermal Labels Gene Paul Lim
