7 good reasons to choose the Cloud for Inventory and Flow Management 

06 April 2022

Cloud-based inventory and flow management is the management of end-to-end supply chain and logistics using a cloud-based and mobile inventory and flow management software solution. This is a practice that is becoming more and more widespread in companies.

With the help of a cloud-based management software, all data related to inventory and flows are stored securely. This makes it possible to consult the information at any time, from any device with an internet connection.

The cloud offers new flexibility to businesses, from saving time and money to improving agility and scalability. 

1.      Immediate use without installation

Cloud-based inventory and flow management facilitates immediate use of the solution rather than installation. Users simply click on a web link and access their mobile app store, to start working immediately in the cloud.

The company needs an internet connection and sufficient bandwidth on each computer and mobile device. This way, the IT department does not need to configure the computers. The execution of the software and the storage of the data are provided by the provider, so that the company does not have to worry about the acquisition and maintenance of the computers and servers where the software is executed.

2.      Scalability to accommodate changes 

Scalability is one of the advantages of managing work in the cloud. The SaaS (Software as a Service) mode allows the extension or reduction of software functionalities when necessary to adapt to changing needs. It also allows for a variable number of licenses, providing greater flexibility to companies wishing to manage their inventory and flows.

In the current context of major transition that disrupts ecosystems and requires companies to adapt and be resilient, Cloud solutions allow companies to meet their agility needs. Moreover, in the event of a major incident, the resilience of Cloud solutions is a determining factor in ensuring that the company's business continuity plan remains operational.

3.      Real-time inventory visibility

Cloud-based inventory and flow management allows for real-time updates of all supply chain operations. The company can thus know the quantity of stock available whenever it wants. Product identification is done by reading codes (barcodes, QR Code, DataMatrix, NFC, RFID, IOT, etc.) with a scanner. Once all products are identified, the management software has complete visibility of the inventory and knows the exact location of each product. The company can even make decisions to avoid stock-outs by anticipating replenishments. It is a modern solution, which can be integrated in different tools, which allows a good traceability, avoids the errors of stocks and allows an important saving of time and performance.

4.      Data analysis facilitates inventory management

Data analysis is recommended for good inventory management. This is because it allows for better decision making and demand planning. Cloud-based management software analyzes and aggregates all operations and generates reports that facilitate decision making with forecasts.

With this information, the company can:

  • Identify the best time to launch new products in the market,
  • Identify the best-selling products and their availability throughout the supply chain, not just in the warehouse,
  • Confront with serenity important periods such as holidays that affect the most the sales or the seasonality of the market.

5.      Security and scalability guaranteed

Company data is totally secure thanks to the management in the Cloud. Indeed, they are stored in high-performance and secure data centers located in different sites. Identified as impossible to have a Cloud SaaS solution for inventory and flow management in the 2010s for performance reasons, the power of the Cloud and its scalability have become essential to support companies in their activities and growth. Security measures:

  • Software security measures: End-to-end encryption, data partitioning, etc.
  • Data security measures: Distributed and replicated storage, etc.
  • Physical security measures: Access control, etc.
  • Hardware security measures: Redundancy, etc.
  • Network security measures: Analysis and audits, etc.
  • Regulatory Compliance: Compliance with current standards and regulations, etc.

6.      Cost reduction

The cloud-based solution is based on a subscription-based payment model (SaaS). This reduces costs by making it easier for operators to do their jobs. Companies that choose to use a cloud model only have to pay for the resources they use, without the maintenance and upkeep costs, and the price adjusts up or down depending on the amount consumed. Businesses can save on hardware costs compared to traditional laptops and desktops, which saves them a lot of upfront costs. They don't have to pay for the hardware on which the warehouse management system will be hosted, nor for maintenance or licenses. This also limits the impact on its working capital requirements. 

Another advantage of managing in the cloud is that the company does not need an IT team to ensure maintenance, backups, monitoring and maintaining the integrity of the solution. The software provider is responsible and guarantees the security and operation of the solution.

7.      Connected/integrated management to improve efficiency

Connected/integrated inventory and flow management is an essential element for companies with a digitalization strategy.

For example, companies with omnichannel/unified view needs that market their products across different channels need to maintain very tight control of merchandise to ensure and track the timely delivery of orders and give a unified, real-time view. This allows them to extend their functionality to prepare more orders from different channels. The orders flow into the inventory management software, which allows them to make procurements to suppliers as needed. Omnichannel inventory management allows real-time management of products available on B2C & B2B e-commerce/marketplace platforms. Moreover, it allows optimization at all levels. If the company has several warehouses, factories, stores, vehicles, advanced storage points, it is possible to make transfers between each warehouse or storage site. In addition, the software can also be complemented with specific modules that link the warehouse to the online stores where the products are marketed. The cloud offers the opportunity for simplified and optimized access to exchange information with suppliers, partners and customers. With a cloud approach and available connectors, cloud solutions can be linked quickly to gain productivity.

Revolutionize your inventory and flow management quickly and easily with Monstock. Monstock allows you to digitize, simplify and automate your inventory and flow management. It is the innovative Smart Supply solution available in cloud and mobile, complete, in real time and accessible everywhere.

For more information, contact the Monstock team.

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