Orderhive has come up with a new feature of Inventory Serialization, which helps you to keep track of individual products in your inventory by assigning a Serial Number.
Smartphones tracked using IMEI, which is a type of Serial number. No two smartphones have the same IMEI number, even if the models are the same. It is crucial as each phone will be owned by a specific individual, and in case of maintenance, troubleshooting, a criminal investigation, etc. serialization of inventory appears to be useful. Unlike SKUs, which does not distinguish similar products, serialized inventory allows individual inventory pieces to be identified.
Serial Numbers can be assigned on various modules in Orderhive.
1. Purchases: You can add Serial Numbers by scanning or by entering manually while inwarding products that have been purchased.
2. Product: You can add Serial Numbers by editing any of the products in the product module.
3. Order: You can add a Serial number to identify the product that has been shipped by choosing an Order in the confirmed section of the Order module.
How Serial Number assigned to each product help you?
Track every product in your inventory. Not just SKUs, start tracking every individual product, to the level where you can track which individual piece within the inventory of an SKU was sent to which customer, and which are the ones that are being returned.
Let’s explore some of the examples:
Determine Product Ownership:
Organizations often use serial numbers to trace the owner of the product. It is done in case of theft, repair, or troubleshooting of any sort. Commodity ownership determination also occurs when selling weapons. When required, it becomes easy for officials to trace firearms owners.
It is one of the product serialization’s most essential applications. Imagine a faulty component put in a top-selling car’s engines and spread through multiple locations. These situations are simple nightmares for companies, and this is where the Vehicle Identification Number (a sort of a serial number) helps to classify the items methodically. A successful recall exercise prevents permanent harm to your name.
Determine Guarantee and Warranty:
Guarantees and warranties are always issued for a predefined time. Often, different product batches with their respective warranties will have a different start and end date. For proper identification of these certificates, serialization helps retailers handle the entire process with ease.
To sum up, Inventory serialization effectively improves the supply chain processes.