Businesses benefit when their inventories become more visible across various aspects of the enterprise. Legacy inventory management systems often plague business processes with human errors, delays and inaccuracies.
These are the very problems that are addressed by modern cloud-based technology systems. Inventories are located across various parts of an enterprise. Manufacturing, warehouse and field inventories can now be tracked through the cloud. Increase productivity and revenue streams through real-time inventory management with agility.
Digital Inventory Management, Expanded Capacities
Improvements in agility and speed allow for tangible improvements in outcomes. Inventory management systems have been historically associated with the ERP model. In the modern marketplace, businesses face over-siloed systems of information that fail to integrate the most important data points.
Legacy inventory management systems over-emphasize the stock located inside of a physical building. Digital systems extend this to field environments, which has been the most difficult to control and manage effectively. Inventory loss and other revenue leakage was commonplace.
Spreadsheets were helpful up to a point when tracking raw inputs, finished products, supplies, materials and equipment; however, they can’t be updated in real time. New cloud-based inventory management technologies enable advanced adaptations with greater accuracy.
Digital inventory management can happen at any site where inventory is located. However, some areas have low connectivity, and this presents a specific problem. Activity can be supported even in cases where a mobile device is disconnected. This ensures accuracy during offline hours while maintaining a mobile workflow.
Inventory management at the site of activity is preferable to doing paperwork after a transaction. This lowers the costs of material handling while optimizing transactional efficiency. Synchronize transactions with Wi-Fi in areas of low connectivity while dodging delays and downtimes, which are cost prohibitive.
Accounting for all contact employees have with inventory can help to manage inventory across warehouses and field environments. Data can be communicated across the entire supply chain through mobile device technologies. Personalization of mobile apps allow roles within the organization to be implemented. These technologies streamline the work at the user end.
It enables decision-making based on real-time data. Accuracy and mobility are possible through inventory nodes. Contrast the instant inventory nodes with the time needed to do the same with traditional inventory systems, which took up to several months. Nodes can now be added and deleted as needed.
Digital Inventory Management, System Agility
Adaptation and transitional capacity are integral to maintaining an automated system. Procedural flexibility is necessary to manage the lack of predictability in today’s marketplace. As supply and demand changes, the business must adapt to remain competitive. Inventory management capacity is the key to improving the warehousing and shipping capacities, for example. It can handle sudden surges in consumer demand.
Transitioning to a digital system for inventory management can improve the time needed to ship by a factor of 3. Digital inventory management solutions address common flaws in the control and visibility of inventory. Assess the supply chain, then implement a custom management system for your inventory to keep your business’s competitive edge.
Learn more about Cloud Inventory here: https://www.crunchbase.com/organization/cloud-inventory