Use GS1 QR Code for Managing Inventory and Expiration Dates

By: ZelUpdate: September 12, 2024

Use GS1 QR Code for Managing Inventory and Expiration Dates

Have you ever wondered what would happen if we didn’t track product expiration dates? Surely there will be a loss of inventory and supply chain inefficiency. Moreover, if expired products are brought into use, they can have serious consequences.

Tracking expiration dates has always been a manual method but imagine if we could make it as simple as scanning a QR code. The logistics and supply chain industry no longer relies on manual methods for managing inventory and expiration dates. Adopting GS1 represents a significant change in this process.

These QR codes can be very useful for businesses managing their stock and inventory. They help keep track of product expiration dates. Let's get into how the GS1 QR code for managing inventory and expiration dates can give your business full control over these processes.

Table of Contents

Transformation From Manual Errors to Digital Precision
Transforming Industries
Managing Inventory and Expiration Dates
Innovative Approaches for Expiry Date Management
Success Stories of GS1 QR Code Implementation In Different Industries
The Future of Inventory Management
Use GS1 QR Code Generator to Create and Manage Your Inventory and Expiration Dates

Transformation From Manual Errors to Digital Precision

Before discussing the GS1 QR code supply chain and logistics in more detail, it’s important to have some insight into the history of QR codes and their evolution.

The evolution of inventory control

A few years ago, managing inventory was a difficult and time-consuming task involving pen and paper. This manual method was not only slow but also prone to human errors.

As time passed, businesses expanded, and along with that, supply chains and inventories also got a boost! To manage this huge supply demand and inventory management, a new evolution was waiting to revolutionize the management game.

Barcodes: The first leap forward

The introduction of barcodes was a game-changer! It was an innovative step in moving inventory management from manual to automatic. These barcodes were 2D designs that stored limited data about the product and could be easily scanned using a specific scanner.

Barcodes were the first step to making things error-free, fast, and reliable. Now businesses can easily capture the data and have a digital track of their inventor.

Still, barcodes had multiple limitations, such as a specific scanner being required and limited data parameters that could be stored. A new evolution was about to happen!

QR Codes: The modern solution

The next thing that emerged after the barcode was the QR code. These codes are a little more advanced, more durable, and more versatile than barcodes. They store URLs that can redirect users to websites that can be used for any purpose.

QR codes can be scanned using any smartphone and are used in any industry. An enhanced version of QR codes, GS1, is available for businesses. Let’s discuss more about how it is helpful for businesses, especially in inventory management.

The power of GS1 QR codes

GS1 QR codes and GS1 2D barcodes can hold various information, such as details about a product, batch numbers, expiration dates, and links to product pages.

The feature of carrying multiple information in a single QR code is highly functional and saves effort. These codes can easily be scanned using any smartphone or scanning device.

Enhancing consumer experience and business insights

Unlike traditional barcodes, GS1 QR codes support GS1 digital link QR code, connecting the physical product with online. This feature helps users and customers to easily verify the data of the product and ensure it's not expired. On the other hand, businesses can use it to track inventory and do what is needed with the data.

Boosting productivity in logistics

These inventory for logistics and supply chains have numerous benefits. With the help of these QR codes, businesses can track inventory, increase operations, and easily determine the supply and demand of individual products.

When a business has digital and accurate data about its inventory, it becomes easy for them to predict the business direction and act accordingly.

Transforming Industries

GS1 Barcodes and inventory QR codes have driven drastic changes in various trades. Here are some industries.

Pharmaceuticals: Ensuring safety and compliance

The pharmaceutical industry is one of the most important industries for tracking expiry dates. As medicine is consumed by ill patients, avoiding expired medicine is the top priority.

Using GS1 barcodes for pharmaceutical tracking has changed how the industry used to track the inventory of pharma products. Now, everything is digitally tracked, and expiry dates are accurately monitored for each product by periodically scanning the product.

Food and beverage: Managing perishables

The food and beverage industry, whose products have expiration dates, is in danger of inventory loss due to expirations. For this reason, it is important to take stock and keep records of inventories' shelf lives.

This is where the GS1 for managing inventory and expiration dates comes into the picture. These codes help food businesses to keep accurate details of each of their inventory products along with the expiry dates, making it easier to maintain fresh food every time to customers.

Retail: Elevating customer experience

Customers who love to shop also want to know every product detail before buying it. GS1 barcodes made this requirement easier; now, customers can easily fetch details of the product by scanning the inventory QR code. This not only makes the business run smoothly but also increases the trust in the market.

Managing Inventory and Expiration Dates

Here is how to implement the GS1 for managing inventory:

Assessing current situation

Evaluate your existing inventory systems before integrating it to manage inventory and expiration dates. Identify areas needing improvement and determine how it can address these issues. This assessment ensures a smooth transition and practical integration.

Selecting the right GS1 QR code generator

Choose a GS1 QR code generator with features like batch processing and software integration. The right generator is key to successful implementation.

Integrating QR codes with existing systems

Ensure your hardware (Scanning device) and software are compatible with QR codes. This might involve updating software or acquiring new equipment for seamless operation.

Innovative Approaches for Expiry Date Management

Following are some innovative approaches to manage expiry dates:

Encoding Expiry Dates

One unique feature of GS1 is the ability to encode expiration dates. This simplifies tracking perishable goods, making scanning and retrieving expiry information easy. This feature helps businesses have a digital record of expiry dates, making it easy to track which product to dispose of.

Real-time tracking and alerts

Create a barcode tracking system that tracks in real-time to prevent products from expiring. The system should automatically alert staff when items are close to their expiration dates so they can take action and reduce waste.

Automated inventory rotation

Businesses handling perishable goods need automated inventory rotation based on expiration dates. To reduce spoilage, use the First Expired, First Out (FEFO) principle and use older batches first.

Success Stories of GS1 QR Code Implementation In Different Industries

Here is how different industries manage inventory and expiration dates:

Pharmaceutical's battle against counterfeiting

A top pharmaceutical company decreased fake products by 40% using QR codes for product verification. This helped increase safety and comply with regulations.

Food manufacturer's waste reduction

A food manufacturer experienced a 30% decrease in waste by better managing expiry dates using GS1 for inventory management. This improvement led to significant cost savings for the consumer and ensured fresher products.

Overcoming implementation challenges

Implementing the GS1 QR code for managing inventory and expiration dates offers various benefits, but it also has some challenges. Here is how to overcome these challenges:

Addressing misconceptions

Many people mistakenly think that encoding GS1 is difficult or expensive. It is important to explain the long-term benefits and cost-saving potential to everyone involved, which will help make adoption smoother.

Comprehensive staff training

Provide thorough training for staff on generating, scanning, and interpreting QR codes. Highlight the importance of accurate data entry and system interoperability for effective inventory management.

Ensuring data accuracy

Regular audits and validation checks ensure accurate data across all systems. They also ensure that all systems involved in the inventory process are compatible and communicate effectively with each other.

The Future of Inventory Management

AI and IoT integration is the future of inventory management in GS1 implementation:

AI and IoT Integration

AI, together with IoT, is ready to bring about a big change in the inventory management industry. AI uses GS1 data analysis for demand prediction and matching supply stocks optimization, while IoT gadgets offer current updates on product states for monitoring and quality assurance.

Predictive analytics

Leverage historical data for predictive analytics, enabling better inventory forecasts and informed decision-making. This approach helps maintain optimal stock levels and prevent oversupply or stockouts.

Smart supply chains

Soon, using AI and IoT to link advanced QR coding will make it so that upcoming supply chains are smarter and more transparent compared to now. These will simplify operations and heighten safety and standards at every point.

Use GS1 QR Code Generator to Create and Manage Your Inventory and Expiration Dates

Businesses are being changed by the GS1 QR code for managing inventory and expiration dates. When they accept these codes, they could improve their productivity, reduce waste costs, and keep up with the competition.

You will be able to appreciate the impact of contemporary inventory management after taking advantage of GS1 in your organization. By using this, you can better control your inventory, which will help your business succeed in today's fast-paced environment.

Integrate GS1 into your inventory management strategy to enjoy the benefits of modern, precise, and reliable stock management.

DISCLAIMER: We acknowledge that GS1, as well as the materials, proprietary items, and all related patents, copyright, trademark, and other intellectual property (collectively, “intellectual property”) relating to its use, are the property of GS1 Global, and that our use of the same shall be in accordance with the conditions provided by GS1 Global.