There have never been more opportunities for business success than today – but the number of opportunities is equaled by the number of competitors vying for the same corner of the market. To stand above the rest, smart business leaders strive to satisfy customers’ desire for instant gratification by creating outstanding customer experiences and delivering their products quickly – same-day if possible.
To do so, you need tight control over your supply chain so you’ll never miss the mark with your customers.
Taking control of your supply chain starts by implementing a solid ERP solution like Microsoft Dynamics. What benefits will that bring for your company?
Enhances and improves communication and collaboration throughout the organization
Streamlines, automates, and standardizes business processes for increased productivity
A cloud-based ERP solution reduces IT costs, shifting most of the work to the provider
Cloud-based ERP solutions allow 24/7 access from anywhere, on any device
Improves financial planning and forecasting for better business decisions
Improves customer service, giving sales reps the information needed to respond to customer requests
Creates a centralized database of business information for your entire company
Company data collected and stored provides the basis for deeper analysis
Microsoft Dynamics helps you manage business functions across your entire organization, including finance, human resources, operations, procurement, supply chain, and more.
Optimizing Inventory in Microsoft Dynamics
Microsoft Dynamics covers many critical parts of the fulfillment process, such as picking, packing, shipping, receiving, replenishment, and purchase orders, as well as cost and lot tracking. However, optimizing your inventory is another science in itself.
ERPs can report the current status of your product inventory, but many decision-makers must resort to exporting that data and manipulating it in spreadsheets, comparing it with past reports, and other tedious tasks in an effort to forecast demand and replenish stock accordingly. Additionally, as your product offering expands, you’ll be dealing with more suppliers, each one with its lead times and varying levels of reliability. Calculating stock orders becomes more guesswork than science, and one wrong order could leave you holding stock that expires or becomes obsolete, or worse, without enough on hand to meet customer demand.
Continually experiencing stock-outs will drive customers directly to your competitors, resulting in lost sales.
For these reasons and others, it is essential to add a demand planning solution, like Netstock, to your business-management toolset. Netstock will draw insights from your inventory data to help you see which way your inventory is headed and what you need to do to keep it at optimum levels.
3 Steps to Optimize Inventory in Microsoft Dynamics 365
With a demand planning solution in place, you can take these next three crucial steps:
Get data intelligence to improve inventory visibility – A 360° view of your inventory and your supply chain.
Accurately forecast future demand – take into account seasonal, intermittent, and one-time demand.
Confidently place predictive orders – automatically calculated to maintain optimum levels and the right amount of safety stock.
Would you like to know more about these three steps? How does Netstock help you accomplish them with your Microsoft Dynamics data? How has Netstock helped one company to reduce stock by 30% while saving over 50% on employee processing time?
Find the answers to these Dynamics 365 questions in our eBook, “Beyond your ERP: 3 steps to optimize your inventory.” Download it now.
Contact Netstock today for expert guidance to identify your unique supply chain challenges and implement a demand planning solution to optimize your company’s inventory.
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