Quality assurance: Assigning lot numbers to goods helps with your quality assurance procedure. If you find a defective item when testing various batches, you can locate its group and pull those products from the line if none of them meet your company’s standards. It’s easier and more economical than taking down the entire product line.
If the products you manufacture have a low chance of returns from production failure, lot numbers are not necessary. For example, it wouldn’t make sense to use lot codes if you store consumable products like toilet paper, paper towels, pens and other non-perishable goods. Serial numbering is a set of unique identifiers assigned to individual items within a batch of products. You can have a group of goods with the same lot number, but serial numbers will differentiate them from one another. Unlike lot IDs, serial numbers have a one-to-one relationship, as a unique number goes to a single product. No other product can exist with the same serial number. Serial number tracking allows you to trace each item from the time it’s manufactured to when it’s delivered and sold. The identification number given to one product enables you to track its history. This number helps with record-keeping, accuracy and compliance, which is especially crucial for highly-regulated industries that manufacture products with specific variants.
If a variation occurs during production in one of your components, the product’s serial number will help you pinpoint the particular item having issues. This form of tracking also enables you to see what’s in stock while identifying the details of everything that enters and leaves your facility. A serial number provides all the information about an individual item, like its size, color, configuration, weight and dozens of other specifications. Tracking even helps you see which goods are more popular than others. These trends can aid you in stocking and preparing future manufacturing quantities. Serial numbers also reduce shipping errors, which is especially critical for the medical and pharmaceutical industries. At Finale Inventory, our cloud inventory management systems can accommodate various serial code schemes for a multitude of businesses. Implementing a serial number sequence within your inventory is ideal when your products are under warranty or uphold after-sales services. If an item is faulty or returned, you will have accurate and complete data available to support your clients and customers. Serial numbers won’t support every product because the process is time-consuming. It also wouldn’t make sense to use serial numbers for food items. Instead, it’s helpful when manufacturing technology like laptops, cell phones, headphones and tablets, as well as automobiles and appliances. Because consumers often demand support with these products, you can track down their specific merchandise to provide exceptional service: 1. Appliances have serial numbers to allow customers to find the correct spare part by entering the number on the manufacturer’s site. Additionally, the serial number lets companies track warranty claims for each specific unit. Cars have serial number tracking in the form of a vehicle identification number (VIN). The car’s VIN identifies a specific vehicle where no two automobiles can have the same ID. A VIN has a total of 17 numbers and letters that distinguish each automobile. You can use the VIN to trace warranties, recalls, registrations, insurance coverage and even theft. A serial number identifies computers, cell phones and other electronic products. Looking up a specific serial number online can assist customers in finding the software and support necessary for keeping their equipment working optimally. Companies often use serial numbers on products where it is crucial to track warranty and service issues after a sale. You can look up a product’s warranty via its serial number, which will also ensure the product coming in for a warranty or return is the same that you sold. Product compatibility also relies on serial numbers. The codes allow you to research whether a particular product is compatible with another. For example, some updated versions may have more compatibilities compared to older ones. Serial numbers create more streamlined and accessible inventory management that helps with improved visibility and tighter product grouping.
When you can see each item in your inventory through the management system, it makes categorizing easier. It also aids in seeing similarities between goods, as well as the behavior of particular groups. Efficient management increases productivity and uptime through a reduction in data entry times and fewer inventory errors. Serial numbers give you more accurate transfers, sales and order information because each good is monitored during the manufacturing process — often via barcodes.
Barcode tracking reads a good’s serial number, reducing or eliminating transcription and communication errors when tracking products for manufacturing, ordering or selling. Tracking each product is ideal when you need to determine which item was the cause of a mishap. The tracking system also helps suppliers notice problems with their specific components so they can issue a recall. You can quickly locate faulty goods and exchange them for functioning ones.