With the internet becoming more accessible and ingrained in homes and businesses, cloud technology has gained much traction. The cloud is increasing its storage potential by the day, from the photos on your smartphone to your office’s projects database. No wonder it has become a $400 billion industry by the end of 2022.

However, one application gets little attention in mainstream media: inventory management. Most businesses today still restrict that sort of job to a local hard drive, missing out on various advantages. So, what does cloud technology bring to digital inventory management? Well, this guide will tell you all about it.

What Is a Cloud Deployment?

Cloud computing involves storing all or partial information from a database onto a server, usually far away from its source. It involves several protocols that ensure security and constant updates from any digital device, so long as there is a reliable internet connection.

You needed to set up the entire infrastructure by yourself a few years ago. Today, you can avail of preset services from known digital giants like Google Drive and Amazon Web Services. You need not worry about privacy as all the data is encrypted, and no one outside your organisation can access it.

Inventory Management Benefits From Cloud Technology

For large-scale inventory management, the deployment of cloud technology holds several advantages.

Real-Time and Remote Warehouse Management

You can access the data stored on the cloud from any digital device at any timeanytime. Your manager may be out on Christmas holidays, and he would still have real-time updates from the warehouse inventory if he had a suitable app on his smartphone. You can also suggest updates or request movements from the same portal, allowing for remote working permissions to those who need it.

Stock Traceability and Insight

With cloud computing, you can trace the status of a specific stock in your warehouse without conducting a manual check. When all your data is available in one location, it’s easier to find certain items that would otherwise be lost in the complexities of the supply chain. Applications, such as managing warehouse labels, also become more straightforward.

Supply Chain Management with Cloud Technology

Speaking of the supply chain, you can track the delivery and storage of shipments precisely when using cloud technology. It prevents delays and complications when a shipment gets delayed, especially in today’s volatile environment.

Cost of Inventory and Accounting Data Processes

If you utilise cloud technology for your business’ daily tasks, you significantly cut down on data processing for inventory costs and accounting. You no longer need to convert CSV files as most of the data is available as documents or spreadsheets. Furthermore, it saves on turnaround times for the last leg of logistics when loading the packages onto trucks or delivery vans.

Consolidating Your Inventory Management and Distribution Systems

With all the data at a secure location, it’s more convenient for everyone in the supply chain to access it. You can distribute the login to a select few overseers who can perform their jobs more efficiently.

Conclusion

The Internet of Things is a concept that has reached unprecedented levels of practical progress. Not getting along with it shall only make a business lag behind the cutting edge of commerce, preventing them from capitalising on massive profits. We hope this guide on cloud technology helps you make the correct decisions going forward. For a more comprehensive consultation, you can connect with professionals at Qbasis.