If you have never heard of a lot number before, you may have heard it under a different name. It can also be called a batch number, code number, or lot code. Lot numbers are a combination of numerical digits that are then assigned to a group of products with similarities.
If you are unsure of where these numbers are, you can typically find them on the outside of the packaging. Many companies are going to have a different way of assigning lot numbers to their products. Some of the factors that determine these differentiations can be based on the date, location, expiration date, or a combination of different numbers. One important thing to know is that a lot number can only be applied to one batch of products.
However, many of the items in that one batch will have the same lot number as several other ones. Lot numbers are important for a number of reasons, such as inventory management and avoiding crises during a recall. A reliable inventory software system such as topShelf helps you do just that. Having all the information you need at a glance not only increases efficiency but saves you time, money, and energy. Inventory management is one of the most important parts of your business. Having good inventory management also helps to make sure you are not over or under-ordering products for your warehouse.
For example, lot numbers can indicate a purchase order time, shipping time, or time of receipt. The timestamp associated with the lot allows for the lot tracking of perishable items, medical supplies, or anything else with a limited shelf life. While timestamps may or may not appear on the packaging, they should be recorded somewhere, such as in a supply chain solution. What goods and products use lot numbers? Why is lot tracking used? In some sectors, such as the medical supply and pharmaceutical industry, the use of lot batch tracking is required by regulatory agencies.
This could facilitate any recall made due to food safety issues. In other cases, lots are used to streamline warehouse efficiency , and inventory management. It keeps track of sell-by dates and enables detailed reporting of on-shelf life. Plus, lot tracking makes first-in-first-out FIFO warehousing easier. How are lot numbers used? They are used to track a group of items throughout the entire supply chain, end-to-end.
For example, in the auto industry, a lot batch number could identify a batch of red paint used to paint a group of automobiles. Plus, a specific shipment of spark plugs might all carry the same number. If the need for a parts recalls appears, the lot batch can quickly identify which cars are carrying the recalled part.
Recalled parts can occur in any kind of manufacturing, and this could be related to safety or performance issues. For food or medical products, contamination or errors in production might be the reason for the recall.
What is the difference between lot no vs. Both are used for item identification, tracking, and tracing purposes. However, an SKU identifies a distinct type of item which includes attributes that distinguish the item from others.
Product attributes might include the manufacturer, description, material, size, options, version, color, packaging, and warranty terms. Typically, when a warehouse or business takes inventory, it counts the quantity per product. Using a hand scanner or similar barcoding technology, product codes are retailer-specific codes that can be used to calculate stock and identify items on an ecommerce store.
Meanwhile, a lot can be applied to track any inventory batch at a specific time. You may be interested in: From definition and benefits to how it works and examples, everything about the Private Labeling. Keep reading to learn more and apply it to your business. Now, more than at any other time in history, they have the means to research the brands they buy easily, and to understand whether these brands meet their ethical standards.
The food industry is a major example of this. Consumers want to know their fish has been sustainably sourced, their meat and dairy products are cruelty-free, and the beans used to make their coffee and chocolate have been fairly traded. Lot tracking can play a key role in this. Understanding where your ingredients and materials come from and how they are produced helps give businesses valuable insight into the practices and methods their partners use, and the social and environmental impact these may have.
It means that you can hold your suppliers and partners accountable — or switch them completely if they fail to meet the right standards. Article by Melanie Chan in collaboration with our team of Unleashed Software inventory and business specialists. Melanie has been writing about inventory management for the past three years.
When not writing about inventory management, you can find her eating her way through Auckland. Businesses that implement inventory management software, which integrates each node in the supply chain, are generally able to avoid running into an For any business, managing the flow of the supply chain is key to productivity and customer satisfaction. This is especially true as a company begins Inventory tracking is essentially a process for monitoring inventory levels, orders, sales and inventory movements.
In any business, particularly in s Contact us Careers About us. Check our help guide for more info. Ground Training - Beginner Learn the fundamentals of inventory management. Take Off - Advanced Get a deeper insight into our advanced features. In Orbit - Business insights Learn about industry best practices with our team and special guests. Audio Signals - Podcasts Radio in on great inventory management podcasts.
Sample 2. Sample 3. Lot number means a unique numeric or alphanumeric identifier assigned to a lot by a manufacturer when medical cannabidiol is produced.
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