A picture is worth 1,000 words. In the world of media, that is obvious. Is it the same when it comes to inventory systems? It seems so!
Yes, it may seem that when it comes to inventory systems, many businesses are noting that there is an improvement in their storage and their management of the inventory if it is visual. Does that mean that there are pictures and photos on the boxes? No, not necessarily. It simply means that rather than having a list of items you have in stock in front of you, business owners can instead have a digitalized system, which will allow them to see all of the blurbs about an item and a photo. Think of it as a listing on an online marketplace, except it is in your stock.
So, why exactly would you want to invest in a visual inventory system? This article offers a quick guide.
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Imagine you open an inventory system on a device; which would be easier to work with? An inventory system with codes, numbers, and a written description of the items, or a system with all of the aforementioned features, along with a photo.
Many humans are visual learners, so having inventory management photos ingrained into your inventory system will help you literally see what you have in stock. If you are working in an industry where the appearance of what you sell matters, such as luxury goods, beauty products, or kid’s toys, then being able to see what you have in stock will help with advertising the items and linking them online.
Faster Identification
Again, imagine you are in a stock room that is full of boxes with numbers on them. You are going to be wasting a fair amount of time identifying the difference between ITEM 445563214 and ITEM 4455632114!
Numbering is only part of the problem for many people who need to keep track of their inventory. You may not have a clear idea of how the item is meant to look. Also, you don’t want to waste your or your staff’s time moving and relocating boxes when sifting through storage closets. If you use an app with a visual inventory system, you can scan the barcode and see the item in the boxes. Voila! You identify the item, and you can move it to the shop floor or ship it with better precision and less time.
Noting Stock Condition
A lot of businesses will have assets that are essential for their functioning, such as technology, machinery, and equipment. When it comes to the annual audit or the dreaded tax return season, having a visual inventory system can help businesses keep track of these items and assess where (and if) the items are damaged. Indeed, if you use a lot of technology to run your business or machines, come tax return season, having a visual inventory will allow your accountant to assess the depreciation of the item. It will also allow you and your team to determine why an item of machinery may be breaking down or wearing down, which can help you decide if the item is appropriate for what it is used for.
Having item histories with photos can help with all of this!
Spot Differences Between Similar Items
This is more common in areas such as makeup, hair dye and upholstery; you may have a few items in your stock that look similar. This can be frustrating for you, your staff and your customers; imagine if one of them wanted a nude peach lipstick but, instead, they were shipped a nude pink lipstick? That wouldn’t go down well!
The truth is having all of the items you have in stock registered in a visual inventory system can save you and your team a lot of time. As mentioned before, the majority of people are visual learners, and if you are using an inventory system that lists items based on their description, their ID number and a few photos, then there is less chance of you ordering the wrong item or sending the said item to a customer.
Sales and Rentals
OK, so suppose you are a company that rents wedding dresses, tuxedos, or even prom dresses. It is not only wise to have photos of all of the items that you can offer, but it is also necessary. Indeed, this will help your staff identify which items your customers want, as well as help your customers identify what they want. Without sounding harsh, it can also help with the quality of return on rental items. Suppose you have a client who wants to rent a prom dress; you will have a photo to hand of how the dress looked before it was rented. If it is returned in poor condition, you can employ a fee. It sounds harsh, but you don’t want to lose money!
It Looks More Professional
Last but not least, when it comes to getting investors, or if you are on a shop floor showing off the items you have in stock to your customers, it will simply look better if you have photos to hand.
Why? Well, how can your investors know what it is that you offer if there are no photos? Or how can you show your customers what you have in stock if you don’t have any pics? By investing in a visual inventory system, you are not only ensuring that you know what you have in stock, but you are also making sure that should the need arise for you to showcase that stock without opening boxes, you have a backup solution, which is trendy!
As you can see, there are many benefits to investing in a visual inventory system for your business. From saving you time by being easily able to see what stock you have and helping you to find stock quicker and keep a record of its condition to giving you a more professional look, you can’t skip having a visual system for your inventory needs.