What is the benefit of the Barcode and QR code on a product?

January 23, 2023

As mentioned , Barcodes and QR codes encode product information into bars and alphanumeric characters, making it much faster  to ring up items at a store or track inventory in a warehouse. Besides ease and speed, the codes' major business benefits include accuracy, reduced training, real time data, inventory control and cost savings. And  can provide more information about the product or service without a sweat, and the information quickly goes to the user's device.

Reduced training:
For the most part, barcodes and scanners are self-explanatory, so it doesn’t take new employees long to become efficient at the checkout counter. And, barcodes greatly reduce the need for memorization and institutional knowledge. At a grocery store, for example, the worker doesn’t have to know the codes for popular items to be productive.

Inventory control:
Barcodes improve inventory management and reduce excessive spending on products. Employees can always find the most current information when reviewing inventory positions or trends in demand, which facilitates better decisions around purchasing and discounting. This cuts down on both inventory carrying costs and obsolete inventory, which boosts long-term profitability.

Barcodes eliminate manual entry of product information at receiving, meaning there are far fewer opportunities for error. Whether in a retail store or a warehouse, associates simply swipe the barcode across the scanner. Errors in barcodes themselves are extremely rare.

Real-time data:
Each time an employee scans a barcode, it immediately updates inventory and sales numbers in the company’s enterprise resource planning (ERP) or business management system. This gives a business constant access to up-to-date data, allowing it to quickly calculate meaningful metrics like inventory turn, value of inventory on-hand or sales per week by item.

Cost savings:
Barcodes offer tremendous value, as the upfront investment is not large compared to systems that provide comparable benefits. Companies can create a limited number of barcodes for internal use for a low price, and as their needs grow, the cost of supporting technology remains reasonable.