Inventory management is a daunting task, and nothing really can solve inventory problems completely. There’s always a catch-22 between keeping high stock to avoid the chances of running out, which in turn may also lead to wastage, or keeping too limited stock that increases the chances of not meeting the demand. Business owners are always in a dilemma when looking to manage an inventory resourcefully. However, one thing that can make the process flow easier is the concept of digital printing, which tailors your packaging and label solutions as per the inventory needs. Here’s how inventory management is made easier with digital label printing.
Digital Label Printing makes Forecasting less erroneous
Estimating the amount of label stock required to fulfill an order of certain magnitude is extremely useful in anticipating inventory levels. But rarely do we see such predictions going absolutely in one’s favor, no matter what permutations and combinations you apply to derive to a conclusion. A lot of things can happen in running a business, and there’s no way you can tackle these occurrences once they take place. With digital printing, forecasting errors can be minimized to a considerable extent as compared to flexographic or other forms of printing.
The advantage with digitally printed labels is that there is no setup cost involved, and you can obtain smaller runs, whenever you need them, unlike in other cases where you have to order large quantities of label stock to get some discount on the unit price. You can set intervals as to when you require a certain stock, and in what amount. Everything is digital, and you have to pay nothing for the plate layout. This minimizes the chances of forecast errors, since you can store small inventory on a monthly basis, rather than trying to predict what is going to happen 6 months later.
Launching new products is inexpensive
The biggest problem in launching a new product is to figure out how to market and distribute it without taking a hard hit on the budget. With digital printing, one has the flexibility to source high-quality packaging and label designs in small batches. You have the option of starting small and scaling up the production gradually, since you lose nothing on the setup front. Moreover, a digital printer is more accurate in matching the combination of your brand packaging that goes well with the other popular product lines. There’s no way you can experiment with the brand identity of the product.
Inventory costs are reduced
Stocking labels for a long period of time in the warehouse will not probably accrue interest. With sensible spending on digital printers, you can have your custom labels printed on-demand, as and when you need them. With faster turnarounds and smaller runs, you have the flexibility to order small batches at regular intervals. The costs you save in this process can be utilized in other inventory management purposes, which require more spending.
Get yourself a digital printer today, or place an order for custom labels offered at the most competitive prices by Cut Sheet Labels!
