If you run a manufacturing business, you’ll appreciate the complexities of procuring, producing and shipping products. The supply chain is full of raw materials that need to be tracked and turned into a final product. It’s a busy process with production lines churning out goods, warehouses stacked full of inventory stock, and transportation logistics at both sides of the supply chain.
One of the best ways to stay on top of your manufacturing process is through printed product labels. Labels can make tracking and logistics easier, but they can set your company ahead of the competition as well. Check out some of the key benefits that printed product labels can bring to manufacturing.
Simplify the supply chain process
In the manufacturing supply chain, materials and goods are constantly moving. You are constantly building supplier relationships and supplies are coming in and out of your facilities quickly. When items on the supply chain have printed product labels, this leads to much more efficient tracking and processing. You can see when items are held up and where inventory stock gets sold.
The labelling process stays simple when there is a standardised template. If every supplier you worked with used their own label and had their own requirements, it would cause a staggering amount of delays and confusion in your process. Aim to streamline your labelling process by having supply chain members agree to a relatively standardised labelling option.
Printed product labels keep processes moving faster. You’ll increase efficiencies when looking for inventory stock in the warehouse and getting products out to customers; this is correlated with saving time and money.
As an added benefit, you’ll be able to fulfil orders quicker, meaning that your customers get their order in their hands sooner so it’s likely their customer satisfaction will increase.
Keep labels as standardised as possible to reduce costs. If you have to create special labels for every single product, you’ll spend more money on bespoke customisation. Things can become over-complicated and you’ll lose money and productivity. You’ll feel this on your bottom line.
Barcodes are relatively inexpensive and they do not require extensive amounts of installation. It’s a simple, cheap and effective form of technology. You don’t have to worry about software upgrades or batteries running out of juice. Barcodes are easy, reliable and won’t break the bank.
Accuracy with product labels
The lifecycle of a product is easily discoverable with a printed label. As it moves through the supply chain, you can receive real-time updates on where it is located, which leads to accuracy. You can also track key performance indicators such as inventory turnover, carrying costs, dead stock, order filling accuracy and employee performance.
You’ll be able to get an accurate snapshot of what products and process are working well and what areas need to be improved. You’ll have visibility over your supply chain and employees and can use this information with confidence. This accurate data can guide business decisions and support forecasting.
We’ve just skimmed the surface on what printed product labels can do — it’s an effective way to make your manufacturing business run smoother and it’s a key component not to be missed.
Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.