As 2019 draws to a close, your accounting team is deep in the process of year-end close and your warehouse team is in the midst of—or dreading the approach of—year-end inventory. You need to report that final value of products for records to match sales and purchases, not to mention to have information on hand in case of an audit.

Fortunately, warehouse management systems provide an efficient way to manage inventory. The right systems shave considerable time off conducting inventory. The old-fashioned two-person count method—one person counts, the other records—is not only time-consuming, but can also lead to inaccuracies. But when you start with scanning barcodes and sending data immediately into a warehouse management system, multiple warehouses can be tracked simultaneously for accurate customer information.

Five Reasons to Use Cloud-Based Warehouse Management Systems

Cloud-based systems offer many advantages, including access, expandability to include additional warehouses, real-time updates, and more. There’s a host of additional advantages and benefits of cloud-based warehouse management systems that you may not have even considered. Let’s take a look:

  1. Trace inventory at all stages: Cloud-based warehouse management systems let you trace your inventory at all stages. From the receiving area to the shipping station, track each item and see its status in the system. Tracking based on lot and serial numbers and other information lets you call up the information in the warehouse management system quickly and easily.
  2. Manage multiple warehouses: Site-based warehouse systems can be difficult to connect. With cloud-based warehouse management systems, manage multiple warehouses through one dashboard regardless of location. All are connected through the web, making it easy to see what’s left in stock in Peoria when the Miami warehouse reports a shortage.
  3. Better supply chain management: It can be difficult to manage the supply chain when you have to manually track inventory. Manual counts cause lags in reported numbers, and over-and under- reporting stock is often problematic. Cloud-based warehouse management systems update stock numbers immediately, with reorders done online. Manage stock turnover, seek better prices, and improve profitability by reviewing the data in the system and adjusting your approach as you go.
  4. Improve accounting: With multiple warehouses to manage and hundreds or thousands of SKUs on the books, managing the profit margins and value of inventory using spreadsheets and manual systems can be a nightmare. Instead, with cloud-based warehouse management systems, all the data about the products—including wholesale cost, markup, retail costs, and more—can be entered into the system and automatically calculated. The result is more accurate accounting of the value of inventory and the potential for profits.
  5. Eliminate data silos: Data silos keep important information hidden away and prevent data from being shared. With cloud-based warehouse management systems, data silos are eliminated by ensuring that all data from every warehouse and distribution point in your company is shared equally. No more chasing down a report or looking for someone who can access a system for you. Instead, it’s all in one place, ready for you when you need it.

Improve Inventory Control With the Right Warehouse Technology

You can now gain greater control over your inventory thanks to improved warehouse technology. Cloud-based warehouse management systems integrate seamlessly with enterprise resource planning (ERP) packages. Advanced supply chain and logistic information also enhance the ability to manage one of your company’s most valuable assets: inventory.

Inventory can easily spiral out of control if it’s not managed properly. Products shoved to the back of shelves and forgotten, products ordered at the wrong time, and product not properly cared for all end up costing your company money. With the right inventory management software, you’ll have information available to you that enables you to know precisely where each item is, its stock status, and more.

Accurately Manage Warehouse Inventory With Accounting Systems, Inc.

Choosing the right software for your company can directly influence future success, and so too can having the right partner on your side. If you’re still looking for answers on cloud versus on-premises, manual processes versus total automation, and more, the experts at Accounting Solutions, Inc. have the answers you need. Our experts will sit down with your team to help you find the best solution for your warehouse, your ERP, and all your accounting needs. With 30 years’ experience, ASI has the proven expertise to help move your company’s systems to the next level.

Ready to talk about cloud software for your business? Talk to one of our experts now.