Cloud-based inventory management systems allow the entrepreneur to track their inventory in real-time, collect data, as well as generate reports. This can be done using a wide range of internet-enabled devices: computers, laptops, tablets, and smartphones.
The greatest advantage of cloud systems is that there is no hardware and one can access data from any location while on the road, as long as they have access to the internet. Other advantages are:
i) Easy to install: all one has to do is sign up for a subscription depending on their need and start using.
ii) Easy Integration: with current existing accounting software like QuickBooks and online marketplaces like Amazon and Shopify. Most are yet to integrate local platforms.
iii) Enhanced Efficiency: Changes are implemented immediately company-wide and as a result, this data is more reliable.
iv) Improved Coordination: as the result of improved efficiency there will be improved coordination among departments and different offices. For example, in the case of different outlets one can easily know whether there is a particular product in a different outlet should they run out for whatever reason, and advice accordingly.
All said a good inventory management system ensures you are able to handle your shipments effectively and professionally without delays as compared to if you don’t have a good inventory management system.
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