For those who don’t know what Pixels are, they are a type of bar code used to track items in retail stores. The technology was developed by MetaTrac and was first released for the software and the internet. It then was made available on retail software to help with stock tracking. As the technology became more popular companies like Costar began using it to track their inventory as well.
In the past, the traditional method of keeping track of your products or inventory has been a hassle. If you want to order a product where you have a lot of it and you are relying on supply chain management to tell you when you have enough to finish a shipment, you have to manually check each box or carton to make sure that everything you are expecting is in the package. This can be a real pain in the neck for your business. When you consider all of the time you spend on inventory, it really pays to use a software solution to help with keeping track of your goods.
If you are wondering what Pixels are, here’s a quick breakdown of the technology and how it works. When a customer makes a purchase from your retail outlet, a bar code is affixed to the product with an identification number. This identification number is then sent to a remote system that is linked to the company website.
The system will then gather information from the site including the date the product was purchased. From this information the system can determine how much of the product was sold. If you are interested in using a product tracking system you will want to know if sales and product returns can be tracked from each point on the supply chain. You may also find out if the system can transfer customer information from point A to point B.
Managing product inventory is a major concern for many business owners. If you aren’t good at estimating the numbers or you don’t want to rely on employee based replenishment methods, then you have no choice but to manually keep track of your inventory. Now if you are selling goods online, then you are going to need a third party provider for product order fulfillment and inventory management. In order to handle this, you will have to hire additional staff members and purchase a fulfillment center. This is an unnecessary cost that could be avoided by using a robust and efficient online inventory tracking system.
It is important to remember that your online store must remain competitive in order to maintain a high volume of traffic. If your site doesn’t load quickly or accurately, then you will lose potential customers. It is critical to manage your online business correctly and efficiently in order to increase profit margins. Your current inventory management system is only going to do so well if you make the time to upgrade. Fortunately, a product tracker can help you keep up with your competitors and stay ahead of the competition.
With an online product management system, you can easily see which products are not selling and which ones are performing well. You can also get real-time data on how sales are trending and what orders are taking place. This information is crucial to running a successful business online. If you can’t predict which items are going to perform well and which items you should keep for future sale, then you might as well pass them over to your supplier.
In addition, inventory tracking systems can give you a great deal of insight into how your sales are going and what types of products are bringing in the most money. You may find that certain items, such as bags of potato chips, are not selling very well. However, if you had access to detailed information regarding your customer’s demographic and other factors, you would know that these chips would be much more popular among people in a particular age group. You can then design your online site and other aspects of your business to target this particular demographic and find out what it is they are looking for. By implementing this type of inventory tracking into your business, you will not only increase your profits but also see a significant reduction in the amount of items you have to store in your warehouse or in back rooms. This type of information could make the difference between a successful business and one that is simply dying out and being replaced by a different company.
