Oates and Company Blog

We all know that time is money. And if you’re losing stock or sales because you’re having inventory issues, you’re losing money by the minute.

If this is happening to you, you want to start saving money right away – which means it’s time to start using wireless inventory management.

All companies need to track every single piece of inventory they have. The type of business you are and the type of inventory you’re tracking is irrelevant. Even if you aren’t selling physical product to consumers of some kind, your business supplies still need to be tracked. Businesses selling physical products have extra inventory to track, yes, but it doesn’t matter – all inventory is important and must be tracked with equal diligence.

Because inventory management is so important, it can also be one of the most time consuming parts of many businesses. Up until this point, standard practice has often found companies taking inventory once or twice a year, manually, on paper; sometimes it is transferred to a computer, sometimes not. This process is long, drawn out, and extremely prone to errors, especially if the inventory is transferred by hand to a computer. Now that there is wireless inventory management, however, this inventory process has become a bit of a dinosaur.

Introducing RFID:

We’ve talked about RFID, or Radio Frequency Identification, before – that it is the use of radio frequencies to transfer data. It is a perfect example of the type of technology that can be used as wireless inventory management. The latest technologies are useable for data transfer thanks to RFID tags. Manufacturers track each item through its full process, from its entrance into the building to its exit with the customer – and it can all be done without ever using a piece of paper.

Using RFID tags as a form of wireless inventory management will help reduce the number of lost products, which will lead to an increase in your revenue. Gone are the days of missing inventory or of employees spending long minutes searching for product for a customer. While the associate stays with the customer, the product can be found with a handheld device, whether it is in the warehouse, on the floor, or out of stock. The value of customer service increases, which brings more money into your business.

The idea behind using a wireless inventory management system is to save money and improve the bottom line. As the systems are continuously improving, every business, large and small, will save money through the equipment. Best of all, things like RFID can be used in any industry and attached to almost anything – it has even been used on people! For example, RFID is sometimes used to track firefighters to make sure they are all accounted for during an emergency. The possibilities for a business with this technology are endless.

To talk more about getting a wireless inventory management system, feel free to contact us. At Oates & Company, we’re always happy to help!