Inventory management can be a huge drain on both time and resource for any retail business owner. By simply taking your inventory management into the cloud, owners and managers alike can benefit from a host of things, like increased automation, that will simply make the running of the business a lot smoother. This of course gives you back the time you need to focus on what is at the core of your retail business – your customers.
Whether you’re a single or multi-outlet store, cloud solutions let you automate a range of processes that legacy systems either simply cannot do, or can’t do with the same speed and precision. Now through the cloud, having inventory across multiple stores – be it eCommerce or brick and mortar – is easier than ever. You can see how much inventory is held at each store at a glance, transfer stock between stores with just a few clicks, and also get an idea of what needs to be ordered now and in the future.
There is also no time lapse between what is happening in the store and what you can see in your records. Inventory management is in real-time. Cloud solutions combined with barcode scanning processes especially are making inventory counts a lot quicker, letting you see what your stock levels are at all times. The days of laborious pen and paper counts are out.
As well, with increased visibility over your inventory levels, you will know what you hold in each line, whether it’s selling well or not and whether you need to order more. The ‘sold out’ sign will be a thing of the past.
Retailers these days don’t have the time to be stuck behind a computer for long periods. You’re time-poor and you need to access your records on the go, no matter where you are. This is one of the biggest benefits of cloud-based inventory management. You can simply log in wherever you want – on a laptop, tablet or phone, and see all your data right there in front of you.
The flexibility of having everything accessible also means you know exactly what’s happening with your inventory regardless of the situation. You could be in a meeting with a supplier, selling your products at a pop-up shop, or you could even be on holiday. It’s all there ready to go.
Never lose your data
Cloud solutions host everything online, meaning all your inventory records and data are stored and backed up no matter what. You don’t have to worry about losing any bits of paper, nor do you have to hit the panic button if your laptop is stolen. You can be assured that you can access your most up-to-date records regardless of the circumstance.
Integrate all your software
With a cloud-based inventory solution you can also start to integrate it with a host of other SaaS platforms. Your accounting software, eCommerce website, point-of-sale system, they can all seamlessly talk to one another. And that’s just the beginning. This all helps to reduce the amount of manual and repetitive tasks that may have taken you or your staff hours. And of course, it alleviates the pain when it comes to the end of the financial year, as everything is ready to go for your accountant.
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.