Tracking your inventory is important at every stage. Many systems allow you to track your inventory by serial numbers, RFID tags, barcodes and other IDs.

These tools make it easy to quickly process inventory data when it first makes its way into your warehouse. They also provide an audit of all inventory movement. This is especially important for industries that deal in perishables or consumables. If you ever find yourself needing to recall a certain product, traceability allows you to recall only the products affected. Without traceability, you risk having to recall all items, affected or not, and losing massive amounts of revenue.