The primary advantage of barcodes is that it helps the company to control the stock. Because nearly all the products in the market today have barcodes, the firm can use this technology to maintain secure and accurate control over its inventory. Distribution centers, for instance, can examine standardized identifications on packages as they enter and leave the facility to maintain a record of each product housed at the stockroom. When these packages are received by retailers, store workers can check the items as they go on racks and contrast those records with the records of standardized tags examined at the register to keep up stock information. It is important to note that barcodes can also be used in the transportation of cargo businesses where such companies will have to scan the accepted packages during the time of accepting the responsibility and then scan the cargo again when making delivery. Companies that have online customer portals can also link the information in the barcodes to specific clients to ensure the customers get timely information as soon as the products are available for purchase.
The second advantage of barcodes is that it helps businesses reduce human errors. Administrative and information entry mistakes can bring unsalvageable damage to a business leading to higher cargo costs, unhappy clients, and a lot of time used to find issues. There are some industries where bookkeeping mistakes can lead to a dramatic impact on the service providers for instance in the medicine production firm, in a hospital patient records management and in the blood bank sector. Mistakes here can be unsalvageable to a business image and reputation, and in numerous examples lead to legal ramifications. It is estimated that on average a person can a make one mistake in every three hundred characters entered when recording information or data. With such statistics it is estimated that many businesses make huge losses every year. On the other hand, barcode technology is more accurate and is estimated to make one error in every thirty-six trillion characters based on the type of machine used.
The third benefit of barcodes is that it is cost-effective compared to manual data entry. Despite the fact that standardized identification innovation once carried a high sticker price, the multiplication of scanner tags and accessibility of cheap hardware have made barcodes affordable for practically any business. Even small businesses that lack huge capital can make use of the internet and download various barcodes fonts for free and start using this system to manage their inventory without making any initial capital investments.