Businesses involved in asset and inventory management such as wholesalers, manufacturers, and retailers need to pull up their socks and ensure that they are deploying a scalable, robust, and tech-centric platform for monitoring their assets, and the flow of inventory. Visit: https://www.techaheadcorp.com/blog/impact-of-cloud-computing-on-asset-inventory-management-5-facts-you-shouldnt-ignore/

1. Impact of cloud computing
on asset & inventory
management: 5 facts you
shouldn’t ignore
Techahead

2. It’s indeed shocking to know that more than 40% of small businesses
never track their inventory and a whopping 67% of supply chain managers
use spreadsheets to manage their assets and track the flow of inventory.
Data Source: Zippia , Compunneldigital
In 2020, it was found that the value of out-of-stock items across the world
was $1.4 trillion.
During the pandemic in 2020, losses due to supply chain mismanagement
and lack of a centralized system rose to $4 trillion, and well, this is indeed
unfortunate.
Businesses involved in asset and inventory management such as
wholesalers, manufacturers, and retailers need to pull up their socks and
ensure that they are deploying a scalable, robust, and tech-centric
platform for monitoring their assets, and the flow of inventory.

3. Trillions of dollars can be saved and used in other business-growth activities if
organizations across the globe deploy a cutting-edge, and tech-powered
solution for asset and inventory management.
Why Cloud Based Asset & Inventory Management: An
Introduction
Cloud computing has been hailed as a savior for manufacturers, retailers,
wholesalers, and any business, which needs to monitor, track and
optimize inventory tracking and asset management.
A cloud-based inventory and asset management can be described as a
SaaS-based platform (Software As a Service), which empowers
businesses to track and monitor their assets, inventory status, and
logistics in real-time, and get accurate business insights to make a smart
business decisions.

4. Traditionally, companies used to perform this manually, with pen and paper,
or spreadsheets. And this is the reason that $4 trillion was lost suddenly when
Covid hit the masses, and businesses were shut down.
With this manual approach to inventory and asset management, businesses
have no clue about the current inventory status, the raw materials needed to
fulfill the vendor’s requirements, and the current position of their logistics.
And this leads to chaos, confusion, and eventually huge losses.
These problems can be effectively resolved with Cloud, and this is a game-
changer.
With Cloud-based asset and inventory management, there exists a
centralized record of every SKU, every item, every product, and its real-time
position at any given moment.
A business owner who has multiple inventories spread across the globe can
find out which products need to be fulfilled, which raw materials are needed,
and what the customers demand, with a single tap on their Cloud-powered
asset and inventory management platform.

5. Cost Optimization Strategies
Real-Time information about inventory status
Order management
Vendor/Supplier communication
Support tickets
Loss and fraud prevention
Check out some common, and most popular features of a typical Cloud-
based Asset and Inventory Management System:
In short, Cloud computing is revolutionizing how businesses are tracking and
monitoring their assets and inventory.
Impact Of Cloud On Asset & Inventory Management
Some real facts: Two years, it was reported that globally, there exist
overstocked items worth $176.7 billion and $568.7 billion worth of out-of-stock
goods inside inventories, across the world.

6. Add a little bit of body textThis is indeed shocking, and sheer wastage of
resources.
Once you introduce Cloud into the whole gamut of asset and inventory
management, then it automatically optimizes the operations and empowers the
management to take the right decisions, at the right time.
And most importantly, stops these unnecessary losses and wastages.
Here are the major impact of the Cloud on asset management and inventory
tracking, which you shouldn’t ignore:
Unprecedented Automation
Businesses can automate most of the critical processes and operations when it
comes to asset and inventory management, and thus, induce a system that is
programmed to bring in results. Activities such as product tracking, multi-channel
routing, inventory counts, and more can be fully automated with Cloud-based
inventory management system. Cloud computing has the capabilities to
completely streamline and automate supply chain operations.

7. Real-Time Business Intelligence
Now, this is one of the biggest advantages of Cloud-based asset and inventory
management operations. Businesses are now able to get real-time visibility of
their inventory position and remove physical barriers such as time and location to
accurately track their inventory. With real-time information about the supply,
demand and inventory status, management knows exactly where their business is
going, and at which speed.
Seamless Integrations With 3rd Party Tools
Various 3rd party tools such as order fulfillment apps and distribution software,
CRM, sales and marketing tools, accounting software and more can be seamlessly
integrated with a Cloud-based asset and inventory management system, giving
wings to your operational capabilities.

8. Safety, Security & Peace of Mind
Standalone, and outdated systems can be easily hacked, and manipulated by
hackers who can steal valuable data from your inventory, and harm your
business prospects. With Cloud platforms such as AWS and Microsoft, there
exist several layers of data security and safety, which translates to peace of
mind.
Advanced Analytics & Data Monitoring
Cloud-based asset and inventory management systems can also have data
analytics software, and data monitoring tools, which combined with real-time
insights can give unprecedented control and transparency over the operations.
Analytics can be effectively used to find the trends, and the insights related to
demand and supply, and this translates to powerful business intelligence for
optimizing all aspects of your operations.

9. How To Implement Cloud-Based Asset & Inventory
Management Solution?
Intuitive User-Interface for handling the operations smoothly, which is not
only easy to navigate but also tweaked for maximum efficiency of your
employees
Exhaustive Usability to accommodate hundreds and thousands of SKUs,
items, and products, based on a systematic and logical approach.
Powerful Programming so that your business operations are not hampered,
and the inventory management team is able to utilize the platform for
maximum benefits.
Enhanced Cloud Capabilities, which include data backups, iron-clad data
security, centralized data repository, universal data access, platform and
location independent data access, role-based data access and more.
We at TechAhead can create a powerful, scalable, and robust Cloud based asset
and inventory management solution for your business, which will have:

10. And most importantly, higher ROI as Cloud brings down the IT expenses, and
eradicates all manual processes to free up your resources and helps you to
focus on core business operations.
Connect with our Cloud Experts, who can conceptualize, design and deploy a
powerful, ROI focussed Cloud-Based Asset and Inventory Management System
for your business, and empower you to scale your operations and have
complete control over inventory and assets.
With TechAhead, possibilities are endless.
https://www.techaheadcorp.com/blog/impact-of-cloud-computing-on-asset-
inventory-management-5-facts-you-shouldnt-ignore/
Source

11. De Loureigh University
Valedictory
Address
Juliana Silva
2025 Class Valedictorian
45th Commencement Exercises

12. Congratulations, graduates!

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