In many ways, cloud-based software has changed our lives. From storing information on our phones to sharing files, the “cloud” grants many benefits and it is the same with using a cloud-based Vendor Managed Inventory (VMI) program.
So what are the benefits?
• Improved Collaboration
Effective VMI processes require cross functional collaboration. Both, internal and external players will want to access the same data for planning purposes and to obtain insight. Enterprise Resource Planning (ERP) systems come short in this area. Because the data is kept in separate systems, you and your suppliers might not be able to collaborate and plan, based on the same information. This might result in forecast inaccuracies, overstocks, Out-of-Stocks and consequently, in profit loses and dissatisfied customers.
On the other hand, with cloud VMI, everyone is on the same page, making demand planning instantaneously possible from anywhere in the world, on a single, integrated platform. There will be real-time data for everyone to work with, ensuring that all areas – suppliers, retailers, distributors, manufactures, marketing, sales, finance, and demand planning – can work together in pursuit of shared goals.
• Quick Deployment and Easy to Scale
Cloud-based VMI is also easier to deploy. You don’t need to prepare for full scale implementation, with no need for additional IT resources, hardware and infrastructure. This means you’ll move faster, saving you on cost and improving ROI.
Consequently, you’ll realise additional benefits from the Cloud’s ability to scale seamlessly as the business grows. With cloud, you don’t need to reconfigure dozens of systems across the supply chain to adapt to the speed of your business.
• Streamline with Other Cloud-Based Solutions
If like other businesses you have already migrated most of your enterprise activities to cloud, it would only make sense to pick a cloud-based VMI program. This will allow your employees to access everything they need in the same browser interface, making work a lot easier.
Don’t let land-based systems hold you back. Choose a cloud based VMI system today and start reaping the benefits of improved collaboration, greater flexibility, faster scaling and improved results!