The Importance of Barcodes & Inventory Management

Barcode Basics and Inventory Management

Simply put, a barcode is like a virtual fingerprint for your products. It's a unique 12-to-13-digit number then, when scanned or picked up by a virtual service, tells a system everything it needs to know about a particular item – the name, price, quantity, and more.

What's this got to do with inventory management? Everything! Barcodes, when used with an effective inventory management system, can make tracking your stock as smooth as a newly paved cycle lane.

Say goodbye to manual stocktaking and hello to real-time inventory updates. No more confusion about which bike is which or how many you've got in stock. Scan the barcode, and Bob's your uncle! You've got all the info you need right at your fingertips.

Saddle Up with Google Shopping and Facebook

Now, how do these barcodes help with listing your products on Google Shopping and Facebook? Well, both of these platforms use product data feeds for their listings, and this is where barcodes come in handy.

For Google Shopping, a unique product identifier, usually the Global Trade Item Number (GTIN), is required for most products. This GTIN is essentially the number represented by your product's barcode. Google uses this number to understand exactly what product you're selling. Without it, your products might not show up correctly (or at all) in Google Shopping.

Facebook also uses product identifiers like barcodes to organise and manage listings. Either the GTIN, detailed above, the European Article Number (EAN), or the Universal Product Code (UPC) can be used. This means if you've got your barcodes in order, you're already one pedal stroke ahead.

Spoke-n Benefits of Barcodes and Inventory Management

• Accuracy: Manual inventory management can be a minefield of human errors. But with barcodes, the risk of miscounts and mislabelling is drastically reduced. Plus, you're less likely to lose a bike in the system or run out of stock unexpectedly.
• Efficiency: Imagine the time you'll save when you don't have to manually input product details. That's more time to chat with customers, give advice, or even sneak in a cheeky ride on your favourite trail.
• Improved Customer Service: Ever had a customer ask if you have a particular bike in stock, and you're not quite sure? With a barcode system, you can give them an accurate answer in seconds. Goodbye, awkward shrugs; hello customer satisfaction!
• Better Business Decisions: Having accurate, real-time inventory data can help you make informed business decisions. You'll know when it's time to reorder stock, which products are selling like hot cakes, and which are gathering dust.
• Smoother Online Listings: As we've mentioned, barcodes can make listing your products on Google Shopping and Facebook a breeze. No more struggling to create unique product identifiers – your barcode has got it covered.

Getting Started

To put it simply, think of a barcode as the licence plate of a car. It's a unique identifier that points to all the important information about the product, just like a licence plate points to information about a vehicle​.

Ready to dive in? Here's how to get started:

• 1. Decide on the type of barcode you need. For most retailers, EAN or UPC barcodes will do the trick.
• 2. Register with a barcode provider to get your unique barcodes.
• 3. Implement a barcode inventory management system. This system will allow you to assign a number to each product you sell, associating several data points to the number, including the supplier, product dimensions, weight, and even variable data, such as how many are in stock.
• 4. Print your barcodes. While many of your barcodes will be provided directly from the bike brand, or distributor, you can create barcodes in various ways, like online barcode generators or via dedicated inventory management programs.
• 5. Train your staff on how to use the barcode system. This includes everything from scanning items in and out of stock to looking up product details in the system.

In a nutshell, barcodes are more than just lines and numbers on a product. They are powerful tools for inventory management and control, helping you speed up the process of shipping and receiving goods, ensuring a more accurate count of what's on hand, and reducing costs. Not to mention, they make your online listings a breeze.

So, bike traders, it's time to gear up and get your barcode game on point. Ride on to a future of smoother inventory management, accurate listings, and happier customers. After all, who said biking is all about the outdoors? Some of the best trails are right here in the world of barcodes and inventory management.

The Final Word

Remember, as a bike store owner, your journey doesn't stop here. Continually improving your inventory management practices and staying updated with the latest tools and technologies will keep your business cycling ahead of the competition. It also helps external partners like us here at BikeExchange, expand the reach of your products through services like Google Shopping and paid placements across social media. So, keep pedalling, keep exploring, and enjoy the ride!

*Disclaimer: This is intended as a guide only. Before implementing a barcode and inventory management system, we recommend seeking advice from your customer success team to ensure it meets your business's specific needs.