Get a handle of your lot id traceability with Finale InventoryStart free trial
Howard and Sons Pyrotechnics
Finale customer since 2011
Finale Inventory allows you to create and track your products via lot ids. Finale ensures clear traceability of your products and makes it easy to track an unlimited amount of lot ids when you receive products into your inventory to the time you actually sell the particular product. Our integrated turnkey mobile barcode solution eliminates error and speeds up operations with advanced features like automatic barcode learning and product lookup tables. Picking products with lot ids is a snap with Finale and a mobile barcode scanner.
The inventory complexity compounds when you need to keep tracks of lots numbers. Finale makes it easy to keep track per-stock-unit information from the start (receiving or manufacturing) to finish (shipping the products). This information is permanently recorded in the system, allowing the company access the archives later.
If you are in a business where mandates requires you to maintain accurate records for each unique lot ids purchase and sale (i.e. medical supplies, fireworks, chemical supplies, pharmaceuticals, etc.), then Finale Inventory is all you need for regulatory compliance documentation. Finale Inventory generates a comprehensive audit trail of stock changes and will accurately track each individual item sold, received or returned.
Flexibility with lot ID Numbering
Lot IDs are used a variety of ways, and Finale Inventory is designed to be very flexible and will accommodate a wide range of lot id numbering schemes.
For example, when a product is received with a supplier's lot id number already on it, the lot id number can used in one of three ways: it can be assigned as the external lot id number, it can be used as the internal lot id number, or a completely new lot id number can be created.
If a supplier does not provide a lot number, then the user needs to assign one internally. The internal lot number can be assigned through auto-generation or by a user-assigned numbering system. Another common user-assigned practice is using expiry dates for lot ids so the first items can picked from your available stock first (FIFO).
The choice is yours; Finale supports either scenario.
Straight-forward lot ID implementation
Assigning lot IDs to the products is typically completed when the products are received into the warehouse. Finale makes it easy easy to assign lots id by offering several options for lots id information to be entered the system.
- Manual Entry. When inbound products are received, simply enter the lot id and assign it to the product.
- Bulk Import. If you have many lot ids for assignment, importing the data by copying and pasting from Excel.
- Mobile Barcode Scanner. The turnkey mobile barcode scanner solution will improve your processing time of inbound shipments while eliminating data entry errors. Assigning lot ids is a snap with the bar code scanners. If the lot ids are contained in the barcode on the product, simply scan the barcode. When the lots id are not given, create and print out barcode labels beforehand. Simply place the labels onto the box and scan the product when the product is received.
Once a product is assigned a lot id, it can be monitored as it moves through your inventory system. A printed or displayed report allows you to search by part number or lot id.
The lot id will be provided on the the sales order and manifest for tracking documentation for the customers.
What is the difference between Lot IDs and Serial Number?
Lot tracking is used to track batches, or groups, of a specific item. Lots work very similarly to serialized inventory, except a lot ID represents a group of items instead of an individual unit. A lot ID number is assigned to each batch of items, and the lot ID number stays with the batch as it goes through the system.
Serialized inventory allows you to track individual units of an item, rather than quantities only. A serial number is assigned to each unit, and the number stays with the unit as it goes through the system. Serial numbers typically refer to individual discrete items, such as a bicycle which itself may be constructed from many other serially-numbered components such as gears and wheels.
Learn how to pick products by lot id for outgoing shipments