What is Serial Number Management?
The serial number management system is the process of tracking individual units of an item, starting from its manufacturing to its sale. Each unit is given a unique serial number which helps to identify which unit is sold to whom.
With serial number management, you can easily manage and maintain an account of your inventory.
Significance of Serial Number Management in E-commerce Logistics
A serial number management system eases business methods, as it leaves less room for error. Here are some of the benefits of serial number management:
- Serial number management makes every item visible and properly categorized. This makes the traceability of products simple.
- Assigning serial numbers to the products or individual units of products reduces data entry errors, boosting efficient warehouse management.
- Consistently tracking items with serial numbers, you find and confirm the right product quickly. Thus, you can ship more products faster and increase cash flow.
Prerequisites for Serial Number Management and How It Works
To introduce an effective serial number management service in your inventory, these are the prerequisites to be followed:
- Assigning unique serial numbers to each product, containing information such as production and expiry dates, lot number, quality check history, and so on.
- Inventory management software
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In serial number management, a unique serial number is created and assigned to a product. Subsequently, this serial number is recorded by warehouse management, wholesales, distributors, and others. Therefore, at any stage, any entity in the supply chain can track a particular product using its serial number.
Use Case with Serial Number Management
A retailer uses a unique serial number to keep track of the items and the customers. If there is any complaint lodged about the product, the retailer can cross-check the item and everything related to it. Therefore, serial number management simplifies the tracking of products without having to go through an entire inventory.