In the rapidly progressing environment, organizations particularly involved in supply chain operations have to be proactive with modern business management solutions. Modern ERP solutions are capable to make impact on core business operations such as inventory management.
Microsoft Dynamics 365 Business Central is such a comprehensive ERP solution designed for small and medium enterprises.
Optimize Inventory Management with Microsoft Dynamics 365 Business Central
Managing inventory is still a challenging aspect for most organizations. Inaccurate demand forecasting, lack of real-time visibility, inefficient warehouse operations, and high inventory carrying costs are some.
For organizations finding it difficult to optimize inventory management, Dynamics 365 ERP from Microsoft is a certain bet.
What makes Business Central favourable for organizations worldwide to manage the core business operations?
Microsoft Business Central ERP encompasses various Dynamics 365 modules to effectively manage and run the processes smoothly. The capability to manage the core part of the supply chain, inventory management, is what makes the solution stand out.
Dynamics 365 Supply Chain Management module in the Business Central streamlines the whole aspects of supply chain operations including inventory management.
Here we delve into the reasons why Business Central can help you improve inventory management.
Real-time inventory tracking
Dynamics 365 supply chain management module enables businesses to track inventory across various locations in real-time.
A clear view of stocks provides businesses the advantage of keeping products at optimal levels. This ensures that the organization is not facing out of stock and overstocking and has enough stock to meet customer demands, leading to reduced inventory overheads and costs associated to managing those inventories.
The real-time view of inventory simplifies the inventory management process.
Demand forecasting and planning
D365 Supply Chain Management module provides a demand forecasting feature, which helps to maintain inventory at optimal levels.
This feature enables organizations to predict how much of a product customers will want over a specific period of time. It allows organizations to maintain the right stock levels across store locations and warehouses to meet customer demands.
The demand forecasting feature utilizes historical sales data to identify trends and seasonality. It reduces the need for keeping excessive inventory, thereby lowering storage costs and risks.
By meeting customer demands promptly, it improves customer satisfaction and loyalty. Knowing future product demands allows organizations to make proactive decisions regarding procurement and sourcing.
Automated replenishment
Dynamics 365 Supply Chain Management automates stock replenishment. Its replenishment feature automatically tracks stock levels and triggers reorders when existing stock falls below a predetermined threshold.
The automated replenishment process helps organizations avoid running out of inventory, ensuring smooth operations and customer satisfaction.
Without the need for manual intervention, automated replenishment handles the process of timely restocking, ensuring inventory availability.
Warehouse management
Dynamics 365 Supply Chain Management optimizes warehouse operations. It tracks the processes of receiving, packing, managing, and shipping inventory within the warehouse.
The solution provides tools to efficiently manage storage space, enhancing inventory management within warehouses. Features like barcode scanning and mobile device support further streamline and optimize warehouse operations.
Analytics and reporting
Dynamics 365 provides advanced analytics capabilities, enabling organizations to analyze data and gain insights into various aspects of inventory, such as inventory turnover, carrying costs, and demand patterns.
These insights empower organizations to make informed decisions about their inventory management processes.
Additionally, organizations can identify areas for improvement to optimize inventory management and enhance overall efficiency.
Vendor management
D365 SCM provides robust vendor management capabilities, enabling organizations to effectively manage relationships with their vendors.
Organizations can monitor vendor performance using factors such as delivery time, quality, and compliance.
Maintaining strong relationships with vendors ensures timely delivery of stocks, improves order accuracy, and meets organizational expectations. This approach strengthens inventory management, enhances customer satisfaction, and builds customer trust.
Inventory value reports
An Inventory Value Report is a financial report that provides details about the total worth of an organization’s current inventory at a given time.
It typically includes information about the quantity of each item, the cost per unit, and the overall value of the stock. The system offers various options to view and analyze these reports, allowing businesses to track inventory value efficiently.
Optimize inventory management and meet your business goals with Dynamics 365 Business Central
By efficiently utilizing the features of the Supply Chain module, organizations can seamlessly manage all aspects of inventory.
If you’re looking to optimize inventory management, integrating Dynamics 365 Business Central is a valuable investment.
You can rely on the expertise of leading Dynamics 365 Business Central partners for the implementation of the ERP solution.
The professionals at IAX DYNAMICS lead the way by supporting you through the design, customization, and implementation of Dynamics 365 ERP software. They ensure you get the maximum benefit from the Supply Chain module, elevating inventory management performance.
To learn more about how the ERP solution helps you manage core business processes, get in touch with our professionals today.
FAQ Section
What is Microsoft D365 Business Central and how does it help with inventory management?
Microsoft Dynamics 365 Business Central is an ERP solution designed for small and medium enterprises. It’s supply chain module helps organizations optimize inventory management by providing real-time inventory tracking, demand forecasting, automated replenishment, and warehouse management features.
How does real-time inventory tracking work in Dynamics 365 Business Central?
The D365 Supply Chain Management provides inventory management feature to track inventory across multiple locations in real-time. It provides a clear view of stock levels, helping businesses avoid stockouts and overstocking. This ensures that inventory levels are optimized, reducing overhead costs and simplifying the inventory management process.
What is the demand forecasting feature in Dynamics 365 Business Central?
The demand forecasting feature predict future customer demand based on historical sales data. By accurately forecasting demand, organizations can maintain optimal inventory levels across warehouses and store locations. It helps reduce the need for excessive stock and minimize storage costs while improving customer satisfaction and loyalty.
