3. Invest in Scanning Technology or RFID Chips for Faster Inventory
The barcode revolutionized the retail industry when it was invented in the 1970s. Scanning technology that has come out since then continues to improve. QR codes can be linked to free apps on your cell phone that make inventory a breeze. And accurate.
RFID technology is the next level. Though expensive, this allows you to take inventory without requiring a line of sight scan and ensures durability that barcodes cannot. It’s therefore even more accurate and less time consuming, saving you on labor costs, and, in the end, lost sales.
Such technology allows you to count often as well. Figure out a system and routine that is best for your business. The more up to date your inventory is, the more accurate your ordering and stock levels will be.