In today’s fast-paced marketplace, it’s critical to optimize inventory, predict demand accurately and drive up supplier quality while simultaneously reducing manufacturing cycle times. So it’s not surprising that according to experts, almost two-thirds of surveyed supply chain professionals agree that cloud-based supply chain technology can give organizations a competitive edge.
The cloud’s sheer computing power, robust infrastructure, and connectivity deliver speed, scalability and mobility. This means that stock levels and other factors can be instantly updated across an entire system. Consequently, workers in a wide range of locations — both onsite and offsite — can see the changes in real time and take action accordingly. Moreover, companies that are expanding have the ability to scale up without having to invest in costly hardware. And with apps that are specifically designed for mobile use, workers can connect with their companies’ main system regardless of where they are in the world.
But that’s not all. With more and more businesses undergoing digital transformation, companies can more easily communicate with suppliers and vendors. In fact, some of the more advanced cloud-based solutions can automatically keep track of inventory and place new orders when supplies are running low. The result is a far more streamlined process with a near-optimization of inventory throughout the supply chain.
Finally, the cloud offers an accurate solution for gathering and analyzing critical data about every step in the supply chain. This is especially helpful in recognizing trends such as fluctuations in seasonal demand. It’s also very useful to determine which suppliers and vendors are responsive and deliver the required level of service — as well as which ones don’t.
Clearly, cloud technology offers many benefits for supply chain solutions. And since digital transformation is rapidly becoming a prerequisite for smooth and seamless operations, companies are best advised to leverage it to their advantage.