What is Cloud Inventory Management?
Traditional Inventory Management uses on-premise ERP systems to gauge the movement of stock from production to storage and from storage to customer. Maintaining optimal levels of inventory is the key to ensure that the flow of stock is carried out as per demand. With ERP based inventory control, real-time assessment and entry of localized stock are not conveyed to the entire supply chain. This ‘visibility’ is critical for optimal inventory.
Cloud Inventory Management
With Cloud Inventory Management, the issue of visibility is solved as the registry of stock, its movement and delivery can be tracked on a real-time basis. This alternative to manual and costly ERP approach functions seamlessly by integrating demand planning, logistics, and financial management. Cloud imparts flexibility, scalability, and visibility to the inventory cycle and can be automated to eliminate manual inputs with improved efficiency.
Core Technologies Servicies Inc. believes the future of inventory management to undergo sweeping changes with the adoption of Cloud at its core for scaling a business. Long-term planning and adaptability can be incorporated with Cloud ensuring growth and easy management of the supply chain.
Following are the three factors that affect the efficiency of an inventory cycle:
Scalability
Adding users, functionality, warehouses, suppliers, etc. without incurring large-scale cost and effort is possible with Cloud Inventory Management. Freeing capital gives opportunities to grow from localized business to a global enterprise without needless complexity. The Cloud inventory management can be scaled with growing business adding an edge of sophistication and virtually unlimited capacity for more users.
Flexibility
With scalability comes the system’s ability to accommodate loads as per demand. Cloud Inventory Management, as compared to traditional inventory management services, can give flexible load-bearing capacity along with scalability as workforce and services increase.
Visibility
This is by far the most appealing factor of Cloud Inventory. Real-time global visibility of critical resources and space to meet the usual or fluctuating changes makes it easy for logistic planning and material management. ERP systems which are capable of such visibility increase CAPEX and make it very limited for large-scale companies. Cloud is extremely affordable and can be used with seamless integration of inventory control programs and tools.
CoreIT recommends the Cloud-based inventory to businesses of all sizes and looks forward to collaborating with new partners looking for solutions to inventory flexibility.
