Serial Numbers and Lot Numbers
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· | Accurate Inventory - Each serial number is associated to an item in inventory. When reconciling inventory, you will always know exactly what item is missing. You also eliminate errors when serialized items are sold to specific customers.
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· | Faster processing - Serial number bar codes can be scanned or directly entered to facilitate invoice processing. This can be done for any other movement process like transferring items to a new stock area.
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· | True cost calculations - Even if a product is purchased at different costs, each serial number is assigned an individual cost. This provides more accurate financial reporting.
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· | Better Customer Service - Serial/lot numbers are printed on all documents and allow for quickly determining whether items were purchased from your location and whether the item is still under warranty from your company or the manufacturer.
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· | Easier RMAs - Serial/lot number tracking of items provides complete purchase and sales information for the items, simplifying the return process both from customers and to vendors. This is especially useful when purchasing the same item from multiple vendors. By tracking the serial number, a complete history of the particular item is known including specifically which vendor the item was purchased from and on what purchase receipt.
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· | Multi-stock area Tracking - Serialized items allow stock area tracking and provide a full audit trail of inventory movements between locations and stock areas.
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