WELCOME TO POS HIGHWAY - RETAIL FORWARD | [ CLIENT LOGIN ]
Lot Tracking System2019-08-02T23:21:28+00:00

Lot Tracking

When it comes to “successful inventory management” it essentially boils down to granular, real-time tracking capability. For large-scale operations that support a national or global supply chain, or deal with perishable or sensitive goods, the level of granularity towards tracking deepens. When faced with an extensive supply chain with products with expiration dates or need to be handled with caution, lot numbers are crucial to detailed reporting on on-shelf life and FIFO accounting.

Why is a lot tracking system important?

Pin-point Defective/Recalled Products

Lot tracking allows you to identify batches of a product throughout the supply chain. In the event your products are being returned due to defects, contamination, or expiration, lot tracking will help you track the exact batch those products belonged to. You’ll know exactly which lot they came from, when they were produced/received/purchased, and to whom and where they were sold.

Abiding with Legal Regulations

In recent years, the FDA has made a substantial effort to increase regulation for manufacturing, distribution, and retail companies. This includes recall procedures and in many cases, evidence of lot tracking system, to operate legally per FDA’s guidelines for certain industries (such as pharmacies or grocery stores). Not having a lot tracking system opens the possibility of being penalized by the FDA and potentially being put out of business.

ISO Certification

In addition to regulatory purposes, lot tracking might be a requirement for certain certifications as well. For example, the International Organization for Standardization (ISO) compliance certification makes lot tracking a mandatory requirement. For consumers, an ISO-certified business is one which they can place trust behind the brand and expect it to be of high-quality.

To view a demo of our system, visit our contact us page or call 888.881.1988.

Request a demo

lot tracking, Lot Tracking System
lot tracking, Lot Tracking System

What are the benefits a lot tracking system?

Identify inventory trends

Lot tracking enables better identification of trends in regards to the movement of inventory. You can further assess which product batches move the quickest or slowest, or which lots seem to experience the most returns. The reports can also help you assess your actual landing costs since all the products were purchased at the same time.

Mitigate losses on waste, spoilage, or contamination

Retailers or wholesalers with perishable goods can benefit greatly from lot reports. Maximize your inventory turnover by knowing which products need to be sold sooner, discounted, written off, or not to replenish due to low demand.

Soften impact of product recalls

Product recalls are spontaneous in nature and require immediate response. By using lot tracking reports, you can pinpoint exactly which lot (or batch) of products that were manufactured or purchased together on a certain date as the problematic bunch.

Additionally, a report of your customers who purchased the defective or recalled product can be segmented for notification of the recall, enabling better communication. In the event a regulatory body gets involved, they may request reports producing evidence of which lots were affected. In the bigger picture of things, having this degree of tracking can help to avoid or lessen substantial penalties to your business finances along damage with your reputation.

To view a demo of our system, visit our contact us page or call 888.881.1988.

Our Clients

Testimonials

lot tracking, Lot Tracking System

A year ago, our company switched from Microsoft Dynamics to NCR Counterpoint with the help of the staff at POS Highway. Admittedly, we were nervous. Who wouldn’t be when switching over POS systems? There’s a lot to learn and prepare for.

We found the transition process to be smoother than we ever could have expected, and that is in part thanks to the intuitiveness of Counterpoint, but mainly due to the excellent preparation, training, and support from the staff at POS Highway.

lot tracking, Lot Tracking System

NCR Counterpoint Cloud is the perfect point of sale solution for us, packed with robust features every liquor and tobacco store owner dreams of. Now my stores are managed centrally by one system, connecting the inventory and physical counts across all locations. This ensures my associates know exactly what is in stock and is able to meet our customers’ expectations.

lot tracking, Lot Tracking System

I have found little that this point of sale can’t do for standard SKU’s.   I can report on anything.  I can compare dates on sales from this year and last year within seconds. Searching for data is a breeze!  I can find out anything. ATF loves me. Making data-driven business decisions is a snap.