#USA #Toronto #SMB technology #inFlow Inventory #lot tracking

inFlow Inventory's New Lot Tracking System

inFlow Inventory is making waves in the small to medium-sized business (SMB) sector with the launch of its state-of-the-art lot tracking system. This pioneering product is specifically designed to enhance the efficiency and traceability of inventory management across various industries, including food, pharmaceuticals, and medical devices. What once was an expensive endeavor now becomes accessible to businesses with budgets to consider.

In today's competitive environment, the capability for manufacturers and distributors to track their inventory—from the moment it is received to its delivery to the customer—is not just beneficial, it is crucial. The new system by inFlow Inventory promises to deliver this vital feature at a cost significantly lower than traditional enterprise resource planning (ERP) solutions. This innovative move is set to change the landscape for small-scale producers who have struggled with manual tracking methods or, at best, outdated software solutions.

Development and Testing

iuFlow's recent feature launch culminated two years of hard work. Following rigorous testing over the past year, feedback gathered from various stakeholders, including small food manufacturers and pharmaceutical distributors, played an essential role in perfecting this system. This feedback emphasized the need for simpler, more cost-effective tracking capabilities that did not sacrifice quality or performance.

Historically, several small manufacturers relied on spreadsheets to manage their lot tracking. This method, while familiar, is tedious and prone to errors. It also complicates the recall process if issues arise. As a result, many smaller companies have felt pressured to consider ERP systems that are typically designed for larger enterprises, with associated launch costs that often start in the tens of thousands of dollars and require months of implementation.

Louis Leung, co-founder and CEO of inFlow Inventory, stated, "Traceability should not be a luxury. The businesses for which we designed this product prioritize quick answers to their questions in the event of an issue, rather than sophisticated features that they can do without. For a long time, the only tools available to meet their needs were offered to companies a hundred times their size."

Key Features of the System

The newly launched lot tracking system incorporates several noteworthy features:

• - Batch Tracking: Users can now track every batch from receipt through to the end customer, complete with a comprehensive movement history—showing when it arrived, what it was used for, where it was stored, and who purchased it. This function allows businesses to treat recalls as a reporting task instead of a daunting investigation.
• - Expiration Management: The system helps to prevent potential losses from expired inventory by allowing users to set shelf life durations, enabling inFlow to calculate expiry dates for incoming lots. The Lot Expiry report categorizes inventory items into expired, near-expiry, and past sell-by dates, bringing at-risk stock to the forefront and allowing for proactive sales decisions.
• - First In, First Out (FIFO) Shipping: The software automatically indicates which lot to pick based on selling and expiration dates, ensuring older stock is shipped first, streamlining the distribution process.
• - Enhanced Barcode Support: inFlow now supports various GS1 barcode formats, allowing for the capturing of lot number and expiration data in a single scan and facilitating the generation of QR codes for unique business labels.
• - Comprehensive Tracking: This system enables tracking of both lot numbers and serial numbers, a feature that separates inFlow from most other systems that only manage single identifiers.
• - Mobile and Web Functionality: Inventory can be managed seamlessly across different platforms—using inFlow Inventory for the web, inFlow Manufacturing, and inFlow mobile apps—allowing for batch scanning during receipt, order preparation, and inventory storage.

Target Audience

This lot tracking solution targets food producers, pharmaceutical distributors, medical device manufacturers, and other related industries facing high demands for traceability and expiration management but lacking the budget for extensive ERP solutions. These industries are characterized by regulatory obligations and a tangible risk regarding product safety and expiration timelines.

Availability and Pricing

The lot and expiration date tracking feature is now available across all current plans, included at no additional cost for Mid-Size plans and above. New users to inFlow can enjoy a free trial that allows them to explore full lot tracking capabilities. An extensive library of setup guides is available in inFlow’s learning center to aid with onboarding.

About inFlow Inventory

Founded in Toronto in 2007, inFlow Inventory has become a vital resource for small and medium enterprises with its cloud-based inventory management software. With over 20 million products tracked worldwide, inFlow allows users to efficiently manage inventory, customer orders, purchase orders, and B2B wholesale sales—all integrated into one platform. The software is also compatible with various other tools like Xero, QuickBooks Online, Shopify, and WooCommerce, enhancing its usability in diverse business operations.

For more information, visit inflowinventory.com.