Business

Cloud Inventory: Streamlining Inventory Tracking Across Supply Chains

Inventory control and visibility is essential for any supply chain system to function. However, legacy systems that used ERP technology or paper-based procedures failed to keep up with the rapid pace of changes incurred by globalization. The ability to streamline these inventory tracking controls is now possible with Cloud Inventory. It reduces common problems like delays in shipping, inaccurate ordering, overstocking, bottlenecks and more. The end result is thousands of dollars in saved resources. 

Cloud Inventory figured out how to apply standardized procedures to complicated global supply chains. The result is an improvement in the reliability of tracking, accurate reporting, visibility and control systems for inventory. Streamline the management, tracking and control of inventory with less human error. The supply chain is more efficient when using the Cloud Inventory technology.

Outdated Systems, Paper and ERP

Legacy systems of tracking and control often siloed information, and manual procedures invited mistakes. The older ERP systems were also inflexible, and rapid changes would cause problems. Finally, environments that lacked connectivity were completely isolated from any tracking system for inventory control. These became blind spots in the supply chain. 

Productivity: Productivity and accuracy enable companies to generate profits. Accurately monitoring the movement of inventory is the key to ensuring control and visibility at all points in the supply chain. 

Meet compliance requirements: Businesses often find it difficult to keep up with the latest regulatory changes. Once the company is in the habit of doing business a certain way, changes in compliance regulations can impose a new set of difficulties. Inflexible systems make it difficult to adapt and adjust in order to remain compliant. Cloud Inventory offers a robust and flexible solution to keep your business moving while ensuring compliance requirements are met. 

Inventory optimization: The amount of inventory in stock is part of the equation of optimization; the other half is the demand for these goods. If the amount of inventory is too high, it’s called overstocking. However, running out of inventory is just as much of a problem. Cloud Inventory tackles this problem with end-to-end tracking capabilities, accurate counting and timely communication across mobile devices. This allows for access to the correct information about supplies even in low-connectivity locations.

Revenue increases: Revenues and profit margins are affected by various processes that affect the business’s bottom line either directly or indirectly. This may include overstocking inventory, for example. Other problems could affect the overall profitability. This includes the last-mile issues that might impede timely delivery of products with an expiration date, for example. Customers ordering perishable items like beverages, foods or pharmaceuticals will think twice about placing another order with a company that can’t deliver these items within the designated delivery date. 

Cloud Inventory Benefits

Cloud Inventory leverages the cloud to augment the controls over inventory and maintain visibility at all points. This article covers the three main aspects of Cloud Inventory’s streamlined solution: Field Inventory Management, Manufacturing Materials and Warehouse Inventory.

Field Inventory Management: Manage inventory in non-traditional locations that are hard to control. These environments often lack basic connectivity. However, there’s no need to only look to a vendor management system that’s outside of your warehouse; Cloud Inventory can locate various supplies, tools and inventory lockers in remote job sites and construction zones. 

Manufacturing Materials: Locating various materials can slow down production lines and interrupt the normal pace of supply chain activity. The exact quantity of materials must be procured accurately in order to maintain the line speed. Inventory-first data models are efficient at producing accurate counts and keeping the materials stocked within the designated quantity. Automated scheduling ensures that the stock is maintained at the proper levels. 

Warehouse Inventory: Warehousing is a complicated system that is prone to inventory loss, errors, discrepancies and wasted time on low-priority tasks. Cloud Inventory enables warehouse workers and staff to accurately locate materials, reduce downtime and optimize process efficiencies. In addition, the app can be configured to enable customized solutions to site-specific issues. 

Cloud Inventory, Solution and Benefits

Supply chains involve many moving parts, yet inefficiencies cause substantial loss of profitability. Shipping delays, bottlenecks and human error are common problems. Tracking inventory from the manufacturing site to the final delivery point was traditionally done using manual, paper-based systems. However, these fail to address the dynamic needs of a rapidly moving and ever-changing supply chain environment. 

Cloud Inventory makes it possible to adapt on-location applications to be customized and configured to meet specific needs with minimal amounts of coding. Shipping and receiving, inventory counting and staffing are improved by utilizing the benefits of Cloud Inventory. There are pre-built integrations with ERP that can be rapidly installed on mobile devices, for example. Inventory can now be managed right at the location, which improves productivity while reducing errors.

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