Have you been struggling to stay on top of your inventory? Maybe you’d like to be working remotely or have the ability to check your inventory from home?
The possibilities that cloud-based inventory management solutions offer are endless and always improving. There are so many things you can do to optimize your warehouse today.
Best yet, cloud-based inventory management isn’t just for big businesses like Amazon. It’s a great resource for small businesses as well. Small businesses are known to be more profitable, have higher customer satisfaction rates, and run more efficiently when using inventory management solutions, according to business.org.
Here are 5 reasons you need a cloud-based inventory management solution today.
Increased Efficiency and Profitability
Efficiency and profitability are a big part of inventory and warehouse management. As of 2017, 44% of businesses weren’t tracking their inventory or were using a manual process such as cycle counting to do it.
That means there’s a good chance that profits were being lost without the company even knowing it. When inventory gets lost or miscounted, profitability goes down and cannot recover until the problem is fixed.
Maintaining consistent and controlled costs-of-goods sold is essential for a business’s success. While the problem can sometimes be fixed with manual inventory counts, unfortunately, that will only lead to more hours spent counting inventory by employees that could be fulfilling orders.
A cloud-based inventory management system will track all inventory as it comes into your warehouse and as it goes out. You’ll know exactly where everything is and how much you have so that you don’t have to worry about missing an order or overselling a product.
Connect with Your Online Shop
Online shopping is no longer a wave of the future; it’s the here and now. The Covid-19 pandemic has led to even more people online shopping in order to stay out of the stores and maintain social distancing.
These extra shoppers have placed even more stress on the e-commerce and shipping community. Especially when it comes to keeping online shops up to date and providing prompt customer service.
With a cloud-based inventory management system, you’ll be able to integrate your Salesforce, Shopify, and other software applications in order to work together with an inventory management system such as topShelf by Scout.
Automate Manual Tasks
Manual tasks such as cycle counting, updating online shops, and updating customers on their orders are all tasks that can be done by employees. These tasks are extremely time-consuming, and even small warehouses can spend several days every quarter cycle counting their inventory.
When you automate tasks, you’ll be able to reduce the hours needed from employees that would be used to cycle count and update online shops. These extra hours can be used to market your products better, reach out to more customers, generate business, and grow your company.
Improve Customer Satisfaction
Customer satisfaction should be one of the top priorities of any business. Cloud-based inventory management solutions can help you reach your customers and keep them updated on shipments going in and out of your warehouse.
You’ll be able to update customers when you’ve received their order and update them when the order ships. Consider Amazon or Target.com—both of these retailers have huge online inventories, yet you can easily find updates on when items are shipped and when they arrive at their destination.
The technology that’s available to big businesses like Amazon, Apple, or Target can also be implemented and used in smaller businesses to increase customer satisfaction and to further legitimize your business.
Compete With Big Business
Tying into the above point is the advantage that cloud-based inventory management gives small businesses to compete against big businesses. In order to win contracts, get orders, and grow your business, you’ll need to capitalize on every possible advantage.
Small businesses often have a more loyal customer base. This is a huge advantage over large companies and enterprises. The best way to capitalize on a loyal customer base is to over-deliver, especially in the form of communication.
Another advantage that small businesses have is the ability to personalize orders. While it can be difficult to personalize orders, the challenge most often lies in keeping track of the different orders. With a cloud-based inventory system, you’ll be able to keep track of every order and in turn, deliver the perfect product every time.
The Right Inventory Management Solution
If you’re in the market for an inventory management system, check out topShelf by Scout. TopShelf is a state of the art inventory management system that can take your inventory and warehouse management to the next level.
We offer integrations for 12+ software applications that you’re already familiar with. By integrating topShelf and your sales or accounting software, you’ll be able to track orders, invoices, and products all the way into the customers’ hands.
Reach out today for a free topShelf demo and to get started with your cloud-based inventory management. Take your business to the next level with Scout.