Investopedia explains 'Barcode'
Barcodes can allow stores to track inventory easily if linked to a database, which in turn helps companies track trends in consumer habits, order more inventory and adjust prices. If managed properly, they can help reduce the cash conversion cycle by lowering inventory and thus lowering the days inventory. They are on almost any product you can buy at the store. The most commonly used form of barcode is the Universal Product Code, first introduced in the 1970s for use in grocery stores. They allow stores to track inventory easily if linked to a database, which in turn helps companies track trends in consumer habits, order more inventory and adjust prices.
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