Cloud Based Inventory Management Software Benefits & Comparison
If you’re an eCommerce business looking to stand out in a crowded and competitive marketplace, the cloud is where it’s at. More companies are moving from traditional inventory management systems that require software installation onto their servers to adopting cloud-based inventory solutions. That way, they can eliminate all errors related to only installed programs.
The best Web-based inventory management software is a perfect solution for small and medium businesses that need to manage their stock levels but don’t have the resources. Read on to learn about some of the best Software available.
What is cloud-based inventory management?
Web-based inventory control allows businesses to monitor and maintain their stock levels online. Cloud-based systems are becoming more popular than traditional licensed solutions because they offer the flexibility of accessing data from anywhere as long as you have an Internet connection.
Cloud-based inventory vs. traditional inventory management solutions
Traditional, onsite programs require a solid internet connection to work correctly; with off-site Software, your team can access them from anywhere as long as they have a strong enough signal.
Cloud inventory management offers more functionality and data integrity than traditional systems. It allows for better reliability, reduced costs, customization opportunities that streamline operations like never before.
Five reasons to use cloud-based inventory management
Cloud-based inventory management solutions are highly effective. With this type of solution, you will have access to perpetual updates for your products in the cloud and real-time tracking of what is being sold daily. This makes it easier than ever before to keep track of how much product has been sold at any given moment.
1. Set reorder points
To run a successful retail business, you need accurate reorder points for each inventory item. Reordering helps avoid low stock levels, and it also gives you more information when making financial decisions in the short-term or long term.
2. Automate inventory processes
We have been talking about how cloud-based inventory management software can automate many processes, so it is essential to mention how these programs will help. The best platforms allow for automated data flow in real-time, and they also automatically issue purchase orders based on sales velocity or lead times.
3. Accessible data & analytics
Cloud-based reporting is a better option for those who want to use data and analytics to process information much quicker. Cloud metrics allow businesses to make informed decisions about the future of their company by presenting insights essential to growth.
4. Accuracy & reliability
The use of an ERP can be critical for retailers. The most accurate and reliable inventory is possible with a cloud-based system because it automatically updates in real-time with the latest counts.
5. Integrations with your tech stack
Cloud software is a great way to use the latest technology and integrate it with your business. This will allow you to have complete control over all aspects of inventory, order management, warehousing, etc.
Ten best cloud-based inventory management solutions compared
A cloud-based inventory management solution is perfect for any company looking to improve efficiency and decrease overhead costs. To help you find the best Software, we’ve rounded up ten of the leading options with features that will be sure to meet your current business needs.
Skubana is an all-in-one eCommerce operations software that assists online retailers in synchronizing their inventory data from different sales channels, warehouses, 3PLs, and POS systems. Skubana also provides Orderbots, which automate operational tasks for a business to sell direct to customers on multiple platforms without confusion.
Skubana can help stores avoid storage costs, stockouts, and even turnover ratios. Skubana also has native integrations with Amazon, BigCommerce, Shopify, eBay, Walmart (and more).
Daasity is the only eCommerce analytics platform geared exclusively toward DTC brands. With Daasity, retailers can use their operations data to generate powerful analytic reports designed for beginners and experts alike. Moreover, it’s customizable, so you can have a personalized dashboard that provides detailed information about your online store to help grow your business.
3. Inventory Planner
Inventory Planner is an excellent tool for retailers, analyzing data from their sales trends and vendor lead times. It’s been designed so that business owners don’t waste time on manual inventory management processes.
TrueCommerce is a cloud-based EDI and API connectivity solution connecting business documents like purchase orders, sales orders, inventory updates, and advanced shipping notices. This Software allows developers to integrate with any client where they are in their company’s growth.
Anvyl is a supplier relationship management software that allows companies to manage suppliers, oversee production, and house historical product data from initial acquisition to its final fulfillment. With Anvil’s supply chain organization, brands can enjoy improved visibility across all channels thanks to the automation of manual processes, which are time-consuming and error-prone.
Alloy is a platform that integrates your website with other Software to provide an automated solution. It comes equipped with robust automation tools for store owners who use Shopify, BigCommerce, and Webflow as their eCommerce solutions.
7. QuickBooks Online
QuickBooks Online has various tools to help with accounting, from creating estimates and invoices to tracking sales. The Software integrates with other apps for backup purposes as well.
The StoreAutomator cloud-based platform offers advanced multichannel listing functionality that can be used to increase eCommerce sales. One of the main features is the ability for retailers to create compelling product listings within one unified dashboard. Other notable functions include a description and title templates, channel-based overriding, and alias (or alternate) SKUs.
ShipMonk is a company that integrates e-commerce companies with their warehouses and the Software to manage them. It connects customers all over America, making it easy for these large organizations to expand without worrying about running out of space.
Returnly is not technically inventory software, but it can be. Returnly works with eCommerce merchants and gives instant credit for customers who return their items to allow them an easy way of getting what they want right away before returning a different thing.
Cloud-based Software is now the industry standard for inventory management. If you’re curious about making the switch, take a look at our FAQs to learn more.
Frequently Asked Questions
- What does it mean when Software is “cloud-based”? Cloud-based Software (also called Software as a Service, or SaaS) keeps all of its information stored within a virtual space. Cloud-based programs allow users to access their data without the help of physical servers and instead collect information from any stationary or mobile device with a reliable internet connection.
Cloud-based Software is also called Software as a Service or SaaS. It’s different from other programs because it stores all of its information instead of physical servers in the cloud. This means that users can access their data without help and use any device with an internet connection to do so.
- How does cloud-based inventory management work? Cloud-based inventory management monitors and maintains a company’s stock counts via designated online Software. With cloud-based systems, businesses can automate their supply chain — from inventory tracking to order routing to reorder points — to avoid many of the common errors and inefficiencies related to traditional inventory management methods.
This system helps them automate the supply chain for an organization by tracking inventory levels, order routing, and reorder points to avoid many common errors associated with traditional methods.
- What is the best program to keep track of inventory? Skubana is the best program to keep a list, manage multichannel orders and fulfillment, and streamline data across all sales channels. With the help of Skubana’s cloud-based solutions, retailers can sell direct-to-everywhere and automate any number of operational tasks to save valuable time, money, and resources.