“Innovation in today’s world has brought us the best of the breed technologies in the market today.”Bernard Hor, CEO of Hatio as featured in Top 100 Podcast in Entrepreneurship
With the advent of cloud computing, the world of supply chain management is undergoing rapid transformation. More and more companies are moving their supply chain procedures to the cloud. With the rise of remote work in recent years, this shift has become even more apparent.
We’ll take a look at how Cloud Technology is changing the supply chain management business in this post.
What is Cloud Technology?
As a general concept, the word “cloud technology” covers a wide range of storage options. Data centres all across the world employ server networks to store and remotely manage data. They’re everywhere! Cloud storage has been around for a long time, but only recently has the industry as a whole embraced it in place of traditional data centres.
Security for data in the cloud can be maintained by employing authentication mechanisms that are commonplace in other businesses. Only 40% of organisations save critical information on devices with encryption software, according to the most current surveys, because of concerns about hacking assaults. When it comes to security, traditional IT installations can’t compete with cloud computing because it isn’t tied to any one physical location. Virtual machines are used to replicate data, and data is automatically backed up by connected devices located in various locations around the world.
As a company’s needs expand, cloud solutions can be scaled up to meet those demands. Data storage can be added as needed, giving supply chain managers more flexibility. Instead of spending money on new software licences or upgrading their physical infrastructure, they may just use what they have. In place of lengthy order processing delays, supply chain managers may quickly alter the supply of services and goods to match the rising demand.
The ability of Cloud solutions to interact with existing company systems is a critical feature for supply chain management. These other systems, such as ERP and CRM, can be accessed by the people in charge of the supply chain. In turn, this means that organisations may make better-informed decisions and reduce redundancy. For Supply Chain Managers, the use of artificial intelligence (AI) will soon be available for their usage.
When it comes to hardware maintenance and infrastructure management, cloud storage is an affordable option. Businesses can now store their data in flash memory rather than on discs or tapes, thanks to some of the most inventive cloud service providers. As a result, organisations have been able to lower their expenses while simultaneously increasing their productivity thanks to the advent of cloud computing.
Access to Data Analysis with Actionable Data
Many new monitoring technologies are now accessible, in addition to more affordable solutions for storing data centralised. SCM Platforms, for example, offer a wide range of tools to help you manage your supply chain.
Companies access to data analysis has been completely transformed thanks to cloud computing. Companies can use this study to gain insights into their supply networks’ history and current performance and health.
By having access to knowledge about potential threats, businesses can be better prepared for the worst. For the first time ever, they don’t have to rely on guesses. Their data gives them the ability to prevent problems from arising by taking proactive measures before they arise.
Businesses of all sizes have benefited from cloud-based solutions as they adapt to the digital age.