Businesses organizations nowadays depend on technology to manage day-to-day operations. Many organizations choose to switch to the right enterprise resource planning (ERP) platform because it can provide many functions and improve business operations and productivity.
Business Challenge while using batch Serial Numbers:
A company manufactures medical equipment for hospitals and private clinics, the company manages a large inventory using traditional methods like excel and bookkeeping.
The company also maintains the medical equipment provided to the hospitals, by doing Preventive and Corrective maintenance for various hospitals.
The main challenge for the company is to track the different medical equipment using serial numbers, which are being used by various hospitals and private clinics.
The Solution provided for the business challenge:
To solve the operational problem faced, our team at TIL Solutions designed a solution for the medical company. The solution designed for the medical company is as follows:
Easily Track Stock and Items: The documentation will allow you and your suppliers or clients to track and trace any single item back to the point of its manufacturing.
Provide Better Customer Support: Your company will handle and investigate warranty claims, return, and refunds from improper manufacturing or production faults. Also, you can provide your customers with particular details regarding their model, which is based on the serial code.
Restrain Fraud: You’ll be ready to make sure about the returned item is that the same product you sent, just by checking if the serial number is that the same.
Identify Standard Products: Tracking the serial numbers of sold products will provide you a list of your topmost sellers — this will permit you to be informed about the replenishment of the stock decision when the time comes.
Conclusion:
A serial number inventory system can unlock a wealth of information about inventory items. Businesses with serialized inventory can see a part or product as it moves through the supply chain. Useful data become available, such as the inventory turnover rate, allowing your business to make better, more informed decisions when purchasing inventory in the future.
