The series of parallel black and white lines that we see on most of the products is called barcode. They are used in malls and stores during purchasing to keep accounting simple and also to keep track of the inventories. Barcode registration has been compulsory.
GS1 is the governing body that handles the registrations of barcode and is a not-for-profit organization under the ministry of commerce and industry established in 1996.
The following are the benefits of barcode registration:
- Eliminate human error: With the help of barcodes, the occurrence of errors significantly decreases. It is fast and reliable and consumes less time than manual entry.
- Reduce training time: Employees are required less training time in understanding the hand-help scanner. Training manual data entry is a burden to the company as it requires more resources and compensation.
- Inexpensive design and printing: Designing of barcodes are inexpensive and easy costing merely pennies thus making them economical even in small businesses.
- Versatile in nature: From tracing the products to outgoing shipments and equipment, barcodes can be attached to any surface thus making them versatile.
- Improves inventory control: With the help of barcodes, the location of the goods and products can be traced in the inventory easily thus reducing the time for searching it in storages.
- Rapid data availability: With the help of database management system in the central computer, searching of products becomes easy and also the data can be easily extracted for insights.