Megaventory Blog - Online Inventory Management Software, Order fulfillment and Control System
This is the company blog for megaventory, an online software that helps small businesses that buy, sell and manufacture physical products to manage sales, purchasing, manufacturing and inventory. We blog about new features and updates but also about enterprise software, small businesses, cloud computing and the industry in general.

Monday, September 12, 2016

Megaventory Now Supports Serial Numbers for Advanced Traceability

We are excited to announce that we just launched our new Serial Numbers feature. It’s a feature quite a few of you have asked for and it significantly improves the existing functionality Megaventory already offers. Essentially, it’s a way to allow Megaventory clients to track the movements of individual items in their inventory – potentially it can be used to track the location of each and every product owned by a business.

How it works

1. We tried to keep the new elements required to implement this feature to a minimum in order to make it as easy as possible to use it. Essentially, there are just two things to keep in mind. Whenever you create a product, you can choose whether it is to be serialized (ie each item with that product code will be assigned a serial number) and-if applicable- add the serial number character length.

2. Megaventory will ask for the serial number every time you create a document including this type of product.

That’s it! Once you have done that, you can then trace these products throughout their lifecycle in your inventory, from purchasing from your supplier to selling to your clients by using the new Serial Numbers module.

There are a number of reasons why a business should want to adopt serial numbers in their processes.

Serial numbers means protection

Some products are more valuable than others and you may want to trace them accurately for the purpose of fraud, theft or loss. This means that having a serial number associated with specific products can deter either a malicious employee or an external party to try to get away with theft hoping it would go unnoticed.

For example, a Megaventory client in the industry of airplane leasing and repairs uses the Serial Number feature to track certain plane parts and other expensive aviation components. That way, they have full insight of these particular items current status, availability or repair needs. 

Serial numbers means accuracy 

Another reason a company may want to adopt serial numbers for its stock is for after-sales quality and to properly service warranty claims. If a product has a serial number it’s possible to track its history both before entering the company as well as within it when additions or repairs are made. Also, when that item is sold to the end-user and it needs to return for service or maintenance the full product history is available.

Another Megaventory company selling consumer electronics already uses the Serial Numbers module to track the exact item they have sold to their customers. That way they can make sure that the warranty claims made are for the correct particular item.

A final note

Much as using Serial Numbers is powerful – and very user-friendly in the way we have implemented it, it does add an additional level of complexity to your business process. This overhead even if trivial for individual items it adds up when considered for the entire business product range. As such it makes sense to use it for the types of products that really need it – such as the most expensive and longer lasting ones (ie those likely to need repairs).

The Serial Numbers feature is available in all pricing plans and for all accounts, both existing and new ones :)

We are looking forward to receiving your feedback on our new feature!