Heres the 4 reasons to use the cloud for inventory management. Cloud software covers everything a small or medium business needs to get off the ground: accounting, inventory management, shipping and fulfillment.
Moving to the cloud will save you loads of time and also reduce the likelihood of human errors occurring, leaving you with more time and energy to spend on growing your business.
When it comes to growing your business, cloud software offers a one-size-fits-most solution for businesses. You just have to pay for what you need, while maintaining the option to upgrade in the future when necessary. This way, you’ll be able to scale up to a higher-tier plan easily, without needing to overhaul your system.
Heres the reasons to use the cloud for inventory management
1. Better visibility
With cloud-based inventory software, you can track inventory movement across all channels. You won’t need to manage your inventory manually any more, and neither will you need your staff to spend time keying in sales orders every day. If you have multiple employees, you can give them individual log-on details which can help prevent against inventory theft, as you’ll be able to track down who updated the system when the error occurred.
With inventory software, all you have to do is update the amount of stock in your inventory whenever a new shipment comes in, and the system will take care of the updating inventory levels whenever sales are made.
2. Real time updates
With cloud software that can be accessed anywhere with internet access, you’ll be able to enjoy real time updates. Wherever you are, you’ll be able to add products to your shop. All you need to do is take a picture, update the product description, and you’ll be able to create a purchase order.
Cloud based software allow you to avoid the hassle and risks of setting aside inventory for an online store. This way, whenever a purchase is made on any of your cloud-based sales channels, your inventory levels will be updated accordingly so that you won’t run the risk of overselling.
3. Business intelligence
When it’s time to make business decisions, you need to analyze past performances and combine this information with variable factors that affect your business. You want to play to your strengths, and business intelligence will help you accomplish that.
You’ll not only know your bestsellers, but you’ll know exactly how many of them you’re selling. That could be a big help when you’re coming up with your sales forecasts for the next quarter as you’ll be able to minimize out of stock situations. Also, you’ll know where your customers are coming from, which could give you valuable information to aid your expansion plans.
The right cloud software should be compatible and complement all other aspects of your business and you’ll be able to manage everything from a single dashboard, ensuring everything about your business is recorded along without having to repeatedly key in your information. If you’re still using spreadsheets or desktop applications and they’re leaving you exhausted, it might be time for you to consider moving to the cloud. By speeding up your work processes, you’ll have more time to concentrate on what really matters growing your business.
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