Whether you are in retail, eCommerce, distribution, manufacturing or any other business or service that requires any type of inventory stock, effective inventory control can help to increase your company’s productivity.
Efficient cloud-based inventory control applications streamline the inventory control process, saving on paperwork, promoting better inventory decisions and ultimately leading to greater profitability for your business.
Improving inventory productivity with cloud
Improving inventory productivity can be as simple as integrating inventory software and barcode scanners into the inventory control process. There are numerous ways that cloud-based applications can improve inventory productivity. Here are just a few:
Greater data security and recovery
With inventory records and information residing in the cloud, it is easy to retrieve quickly, saving time and money. Without cloud-based inventory control, growing businesses face the expense of costly system-recovery whereas a switch to cloud will safeguard data through effective cloud-based storage solutions.
Organisations are evolving and changing with time and flexibility becoming a vital component of maintaining inventory productivity. Organisations benefit from the ability to easily adopt services as the changing business needs arise and cloud computing allows for efficient and flexible monitoring workloads.
Cloud systems boost productivity through the efficient use of resources and the scalability of the cloud is particularly important for projects that grow rapidly or experience fluctuations in the business development cycles. Cloud computing provides operational agility and companies that grow at a fast rate, can easily scale-up inventory operations with the aid of cloud systems without disrupting workflows.
Companies avoid the cost and time constraints of ongoing hardware and software updates because with cloud software, these updates happen remotely with cloud service providers taking care of all necessary updates saving businesses the resources and time previously required for the maintenance of in-house servers.
Remote operation efficiency
Adopting cloud computing increases inventory productivity because inventory managers, sales personnel and other employees can access any required inventory data or information. All that is required is an internet connection and most cloud computing service also offer mobile apps that can be easily accessed via from smartphones from anywhere at any time.
When small improvements in inventory productivity can create a tangible competitive advantage, utilising technology to optimise resources is critical. From the perspective of inventory control, that means maintaining high fill rates while also reducing excess inventory stock. Cloud-based inventory control systems are designed to help optimise inventory replenishment by using algorithms and data-based sales forecasts to improve business profitability and save time while doing it.
Additional benefits of cloud-based software
Implementing cloud-based inventory control levels the playing field for smaller companies allowing them to access the latest tools and technologies. Cloud-based software apps are affordable and offer many other benefits in addition to improving inventory productivity.
Cloud applications provide better connectivity with all employees able to access the same information and data from anywhere at any time. This improves collaboration among team members and leads to better performance, it helps with daily activities, boosts sales and increases employee productivity.
Cloud computing also provides the financial benefits of reducing hardware and IT maintenance costs. The reduction in hardware and commuting can have a positive environmental impact, reducing your carbon footprint.
Businesses that make the switch to cloud get all the advantages of larger organisations who are already doing more to foster cloud-based collaboration both internally and with external suppliers, partners and customers.
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.