MS Business Central (formerly known as Microsoft Dynamics Nav) is a comprehensive business management solution especially designed for streamlining core business functions. Moreover, it is easy to configure & offers customized and easily tailored solutions to suit the requirement of businesses. Further, it is not only scalable but also adaptable and can be deployed either in the cloud or on-premises without any difference in user experience. Besides, it provides businesses with real-time insights & empowers them to grow their business the way they want it to be.
As an effective ERP Solution, MS Business Central offers a wide range of interesting features. And one such feature is Inventory Management which not only streamlines the inventory and optimizes the supply chain but also ensures customer satisfaction by effectively meeting the customer requirements.
In this blog, let us dive deeper and explore the key aspects of the Inventory Management feature of Dynamics Business Central.
Basic Inventory
With MS Business Central, you can easily set up stock items and specify their properties. Moreover, you can post item transactions like purchases, sales, and negative & positive adjustments from Item Journals. Similarly, you can also store cost records as well as the quantity of all the posted transactions in the inventory ledger. This will help you in streamlining your inventory valuations and costing calculations.
Item Categories & Attributes
By using MS Business Central, you can define custom categories and group items in a hierarchy. Moreover, you can add custom data like product dimensions, country of manufacture, color, etc. to applicable items. Besides, you can also define attribute options and translate attribute names & options into multiple languages.
Item Tracking
You can manage & track serial as well as lot numbers with ease with the help of MS Business Central. Moreover, you have the option of assigning serial & lot numbers either manually or automatically. Additionally, you also have the option of receiving and shipping multiple quantities with serial numbers from a single order line entry.
Multiple Locations
With MS Business Central, you can effectively manage inventory in multiple locations. For example, warehouses, Production plants, Distribution centers, etc.
Stock-Keeping Units
Using MS Business Central, you can store identical items with the same item in different locations and manage them individually. Moreover, it also offers you the option of adding cost prices, replenishment, and manufacturing information, based on location.
Location Transfers
With MS Business Central, you can track the value of inventory in transit and at various locations.
Item Charges
MS Business Central allows you to manage the item charges effectively by including the value of additional costs. For instance, freight, insurance, and unit price of an item.
Item Cross Reference
By using MS Business Central, you can identify the items a customer is ordering based on item numbers other than your own. Moreover, you can store and easily access cross-reference information from customers, vendors, and manufacturers, as well as generic numbers, universal product codes (UPCs), and European article numbers (EANs).
Item Substitution
With MS Business Central you can Link items that have the same or similar characteristics. As a result, you can identify alternatives for out-of-stock items on orders. Moreover, it also enables you to provide extra service to customers by offering lower-cost alternatives.
Item Budgets
MS Business Central allows you to “define sales and purchase budgets on the customer, vendor, and item levels. Moreover, you can get information about expected demand and use it in business discussions with customers. Similarly, you can finalize budgets and track the actual sales performance by calculating the variance. Besides, you can also Export budget figures to Excel for flexible calculations in the budgeting process.”
Cycle Counting
By using MS Business Central, you can manage cycle counting for verifying inventory record data. This helps you to maintain and increase inventory accuracy. Similarly, you can set up cycle counting on the item or SKU level.
WHY CHOOSE US FOR IMPLEMENTING MICROSOFT BUSINESS CENTRAL?
We are a Microsoft Partner based in Vadodara, Gujarat, with offices across India & overseas. With over a decade of experience in Business Management Consulting, we strongly believe in and work towards Microsoft’s vision of facilitating a holistic and unified Digital Transformation for all our clients. Our highly skilled & knowledgeable Techno-Functional Consultants not only adhere to a customer-centric approach & provide our clients with round-the-clock support but also have an exceptional track record when it comes to project management and service delivery. We are committed to providing our clients with the best possible service and experience, and we firmly believe that our team of experts is the best in the business. If you’re looking for a partner that can help you with your digital transformation, look no further than us.
For more information or to book a free consultation with one of our experts, please write to us at enquiry@dhyey.com.
