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Taking a physical inventory of the existence of goods or materials held by your company means counting the stored quantities (number of pieces, kilograms, liters). Therefore, the processes involving distribution, buying, and selling are facilitated if the inventory is in order. So, is it possible to perform a physical inventory in a simplified way through technology and artificial intelligence? Before answering, we need to start from the beginning. If the physical inventory is well accounted for and organized, it is easier to correct possible errors during the counting. In addition, it allows for greater production speed, since counting physical products takes time and a prepared team. To this end, the market currently offers modern software and hardware to solve inventory problems. But it is possible to go deeper and perform the physical inventory faster and much more efficiently. Among the many options, technological solutions that use Artificial Intelligence and Computer Vision have proven to be the most efficient. Do you want to know how? Read this text!
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Get organized before taking an inventory
The responsibility for inventory management lies with the company's administration. The operation can be sensitive because the value of the stock impacts the company's equity value (the balance sheet total), but also its result (the profit or loss recorded in the income statement). The greater the value of the inventory, the greater the consequences of an erroneous valuation, hence the importance of properly conducting the physical stocktake. Depending on their activity, companies may hold in stock: • Raw materials (materials used in the manufacturing process of a transformation activity);
• Semi-finished products (products processed to enter the manufacturing cycle of another product);
• Work in progress (products whose development cycle is not complete at the time of the inventory count);
• Goods (products purchased and resold without transformation);
All of these assets, owned by the company, have a precise value at the moment they are accounted for. Inventory valuation is the management act that establishes this value.
The inventory counting procedure using software
When it comes to good inventory management, there are always many problems, various dilemmas, and so many difficulties. It is not enough to have good experience or deep knowledge of the sector: it is also necessary to have the right tools that can facilitate the entire task. These are systems created specifically to help monitor inventory and all actions related to it. One should not think that these are automatic systems that do the work for the team. On the contrary, they must in any case be used in the correct way to obtain the desired benefits. These programs are capable of comprehensively tracking stock levels, deliveries, sales, revenues, orders, who handled them, and much more. Implementing such a technological infrastructure in your corporate facility is not as difficult as it might initially seem. Quite the contrary: doing so is easy, also due to the constant development of the programs themselves. These are accessories that adapt very well to any type of business, from the smallest to companies with a particularly large staff. Added to this is another factor to consider: cost. These products do not have high prices and at the same time can be considered an investment with a practically guaranteed return on investment. Thanks to the use of these tools, it will indeed be possible to avoid the classic errors arising from a classic and anachronistic management of warehouse stocks, verifying the presence of products, their locations, understanding various additional pieces of information, etc.
Simplifying stock inventory
The main advantage of computerizing a process is to improve productivity and, therefore, reduce costs, or improve the quality of the service offered. Regarding inventory management, technology can be used to simply speed up record-keeping or move to a complete real-time inventory system, as needed. Companies that have large inventory to manage and high product turnover generally favor what is called a perpetual inventory system. This type of system tracks sales and orders in real time, updating the inventory count with each transaction. This is where the benefits of computerization are most evident. A computerized inventory management system provides real-time inventory levels. This enhanced confidence in the reality of current stocks allows for a downward revision of minimum stock levels and immediate financial gains. It also allows you to benefit from a better capacity for anticipation and the possibility of renegotiating supply conditions with suppliers. Even if there is a permanent inventory system, regular physical counts are mandatory to ensure that inventory records are accurate. One of the biggest benefits of a computerized inventory system is that it allows for faster and more accurate counting. It is easier to scan barcodes or QR codes than to write down stock numbers manually or flip through pages of inventory sheets looking for the right item. This also means there is no longer a need to manually transfer these numbers to accounting software or an inventory database, eliminating another source of potential errors and hours of data entry. However, the use of computer vision and technologies that utilize artificial intelligence are even more efficient options for an inventory carried out in an optimized way, simplifying the entire process.
Ultimate solution for your stock inventory!
Pix Force is a startup that is available to help with your company's processes and procedures through the use of high-tech, large-scale counting in an agile and objective way! Utilizing the most modern methods in today's market, one of the company's products, Pix Counter, offers solutions to simplify your stock inventory so that you and your company can make the most of your items/products! Whether in the logistics or industrial sector, stock inventory is a difficult and extremely important activity. Mainly through manual counting, there are many challenges that can hinder the accuracy of the analyzed information. The lack of efficiency certainly results in higher costs. Precisely with this in mind, Pix Force developed a product to assist in stock inventory, counting the number of products in seconds, identifying all items almost instantaneously. For this, the Pix Counter software uses fixed cameras or mobile apps with an artificial intelligence approach, allowing instantaneous counting of products, which can assist in stock inventory counting. With this product's technology, your inventory counting process becomes faster, more practical, and more accurate. Regardless of what your company is or what products are in your stock, Pix Force can adapt Pix Counter to your stock inventory needs. Finally, Pix Counter is a great option to reduce costs in inventories and optimize work time, offering great solutions based on Artificial Intelligence supported by the best professionals! Want to know more? Fill out the form and talk to us!
Fabio Caraça
Fábio Caraça is the Chief Growth Officer at Pix Force. He leads Pix Force's transformation into a scalable SaaS operation, combining strategic vision, culture, and high-impact execution.
