Your Guide to Cloud Inventory Management

Throughout daily operations, modern businesses generate tons of valuable data. Cloud computing has helped organizations collect, manage, and use this information to streamline operations. Cloud-based inventory management is a notable application of this technology. In the following article, you can learn more about what it is, why it's important, and how to get started. 

What is cloud inventory management?

Cloud inventory management is the management of stock through a cloud-based software application. It typically integrates cloud inventory management software with a company's existing accounting and order management systems. Since transactional data can be processed in real-time, inventory-level reports are more accurate and precise.

Cloud-based inventory management software

Cloud inventory management software (or cloud-based inventory management software) often includes features such as barcode scanning and tracking, alerts for low stock levels, and the capability to create purchase orders directly from the software platform. This centralization makes it easier to keep track of inventory and ensure that you always have the stock required to satisfy customer demand.

Read more: Intro to Cloud Computing: IaaS vs. PaaS vs. SaaS

Benefits of cloud inventory management

The goal of using cloud inventory management software is to streamline the inventory management process. Here are a few benefits of using a cloud-based inventory management system:

1. Increased visibility across the organization

With cloud inventory management, you have greater visibility into your inventory levels and can track inventory movements in real time. You can make more informed decisions about your inventory and better forecast future demand.

2. Greater accuracy and traceability

Cloud inventory management systems offer you greater accuracy and traceability than traditional methods. With cloud management, you can track inventory at the SKU level, which helps to ensure that items are always in stock, dealing with bottlenecks in the supply chain and allowing orders to flow seamlessly.

3. Saves time and money

Cloud inventory management systems can save you time and money. They automate the tasks associated with managing inventory, such as reordering stock and tracking shipments. This frees up your staff to invest their time in other tasks. In addition, cloud inventory software can help you coordinate stock replenishment, saving you time on packaging and shipping.

4. Remote and real-time warehouse management

Cloud inventory management systems allow you to manage warehouses from anywhere in the world. You'll have a detailed view of data in real time, which can help you quickly identify problems and make necessary changes.

5. Streamlined supply chain management

Cloud inventory management systems enable you to streamline your supply chains by providing visibility into all process stages. They can also help you coordinate shipments and track deliveries, improving efficiency.

6. Scales with the business

Cloud inventory management systems are flexible and scalable, which means they can grow with your business as it expands. You can also customize cloud inventory systems with features to meet your business's specific needs.

7. Improves customer satisfaction

Cloud inventory management systems can significantly improve customer satisfaction by offering increased inventory visibility and streamlined shipping processes. In addition, these systems often include features that allow your customers to track their orders, further enhancing satisfaction levels.

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Cloud inventory management jobs

Whether you're looking to make a career move or deploy a cloud-based inventory solution in your business, learning about professionals in this field may aid your decision-making process. Cloud IT jobs involve designing, developing, and maintaining cloud software infrastructure. However, business roles also exist in this field to strategize the implementation of a new technology.  

1. Cloud IT jobs

Many IT professionals work to support cloud-based applications and data, manage cloud infrastructure, and develop new cloud-based solutions. Examples of cloud roles that work with inventory software include: 

• Cloud architects

• Cloud developers

• Cloud engineers

• Cloud administrators

• Cloud analysts  

Read more: 4 Cloud Computing Career Paths to Know in 2024

2. Cloud-based supply chain and logistics jobs

These jobs involve coordinating the movement of goods and materials between different locations using cloud-based tools. Supply chain managers ensure that the inventory meets business demand. Examples of supply chain jobs include: 

• Cloud supply chain managers

• Cloud inventory managers

• Cloud logistics managers

3. Data science and business analytics roles

You'll see numerous roles ensuring that the integration and rollout of cloud inventory technology are tailored to a company's operational needs. You’ll find roles in data science, business analysis, and predictive analytics using the power of data and artificial intelligence to facilitate more intelligent, faster decisions.

Read more: IT Business Analyst: Jobs, Skills, Career Paths, and Salaries

Cloud inventory jobs salary and job outlook

More companies are moving from legacy ERP systems to cloud-based infrastructure. This trend increases the number of jobs that interface with cloud supply chain management systems.

The US Bureau of Labor and Statistics (BLS) estimates that logistician careers (the professionals who coordinate and analyze supply chains) will grow by 19 percent between 2023 and 2033, with an average base salary of $79,400 annually [1]. This is much faster than the percentage growth average for most other careers. In addition, IT jobs based on cloud computing are increasing as companies emphasize cloud computing more.

Read more: Cloud Computing Salary: Your 2024 Guide

How to qualify for cloud inventory management roles

Cloud inventory roles are some of the most sought-after jobs in today’s economy. Companies are looking for skills to help them streamline their operations and increase efficiency. Here are some of the things you can consider when looking to build your cloud inventory-related career.

1. Gain a relevant undergraduate degree or equivalent experience.

The education you need for cloud inventory roles depends on the position you want to target. Here is some guidance on the types of degrees that can lead to different roles.

• Cloud IT inventory roles: You’ll generally need a degree in computer science, information technology, or a related field for cloud IT inventory roles. 

• Cloud supply chain and logistics roles: You’ll benefit from a degree in business, logistics, or a related field when applying for a cloud supply chain and logistics or fulfillment role. 

• Cloud inventory data science and business analysis roles: Obtaining a degree in data science, business analytics, or a related field can help you to get cloud inventory data science and business analysis roles.

Some roles require a portfolio of skills encompassing business, IT, and data science competencies. Degrees that combine these areas can make you competitive for business systems and DevOps roles, for example.

2. Consider obtaining certification.

Certifications and Professional Certificates can help you stand out when applying for jobs with cloud inventory systems. They can demonstrate your proficiency with specific technology and show employers you are committed to keeping up with the latest advancements.

Popular certifications and Professional Certificates to consider for a career in cloud inventory management include:

IT Cloud certifications

• AWS Certified Developer: Associate

• AWS Certified Solutions Architect Professional Certificate

• AWS Cloud Technology Consultant Professional Certificate

• AWS Certified SysOps Administrator

• Certified Cloud Security Professional (CCSP)

• CompTIA Cloud+

• Google Associate Cloud Engineer

• Google Certified Professional Data Engineer

• Microsoft Certified: Azure Fundamentals

Data science and business analytics certifications

• Amazon AWS Certified Big Data

• Microsoft Cybersecurity Analyst Professional Certificate

• Business Analysis Certification in Data Analytics, CBDA

• Microsoft Azure Data Scientist Associate (DP-100) Professional Certificate

• CCA Data Analyst

• IBM Data Warehouse Engineer Professional Certificate

• IBM Data Science Professional Certificate

• Microsoft Azure Data Engineering Associate (DP-203) Professional Certificate

• Microsoft Certified Solutions Expert (MCSE): Data Management and Analytics

• SAS Certified Advanced Analytics Professional

• Certified Analytics Professional

Supply chain and logistics certifications

• APICS Certified in Production and Inventory Management (CPIM)

• SCPro Council of Supply Chain Management Professionals (CSCMP)

• APICS Certified Supply Chain Professional Certification (CSCP)

• SOLE Certified Professional Logistician (CPL)

• APICS Supply Chain Operations Reference (SCOR-P) Endorsement

• Inventory Cloud Certification by Oracle

Learn more about cloud inventory management with Coursera

If you would like to learn more about the data science side of cloud inventory while building skills in a top cloud computing platform, consider earning the Google Cloud Data Analytics Professional Certificate. To better understand supply chain logistics, you might benefit from the Supply Chain Management Specialization offered by Rutgers, New Jersey.