The apparent benefit of the Microsoft Dynamics365 inventory management module is allowing you to manage your inventory seamlessly.

But, you might find a bit unfamiliar with the software while getting started. So, we have outlined the following steps to start using the new software:

Check the Old Inventory

You can start by checking the old inventory of your business. All you need to do is, scroll down to the Aged Inventory heading. In that section, you will see the items that have been lying idle in your inventory for more than 120 days.

In this way, you will get vital information regarding whether or not you are moving inventory consistently.

Again, a click on the “Over 120 Days” bar of the graph will enable you to see a list of old inventory sorted by posting date.

Check Your Best Selling Items

You can figure out your best-selling items with Dynamics 365 inventory management. It will help to differentiate the fast-moving items and the slow-moving ones quickly.

Before you refill your inventory, you need to know the vendor lead time to stock the items in high demand in the shortest time. And the software will help you determine the vendor lead time.

You can use the software’s search function to find your inventory and vendor lead time. Then, you can click the magnifying glass( the search icon) at the top right corner of your screen and then select Purchase Advice.

It will generate a Purchase Advice report to quickly show you how many top-selling items are on order and how many are currently in stock. Moreover, the information will also show you the average cost and the lead time of all available vendors.

Raise a Purchase Invoice

The software helps you raise a purchase invoice quickly if you find depleting or deleting items.

You can quickly raise an invoice to purchase the depleted item using the software.

You have to go to the dashboard and then click Vendors. After that, you should select the vendor purchasing from and click the Purchase Invoice button.

Subsequently, you can enter the vendor invoice number, insert the items you will purchase, and then click the Post button to post the invoice.

Effective Dynamics 365 service management can manage your inventory with the best practices.

Forecast Future Inventory Needs

With the software, you can plan your inventory management for the future as it shows the future inventory needs.

That means the software helps you keep track of your inventory and figure out the items you will need in the future. It helps you predict your future inventory needs ahead of time.

The Need to Hire the Right Implementation Partner

If you do not hire a competent partner, you might not see successful implementation. However, hiring the right partner from among many Microsoft dynamics implementation partnersis not a straightforward affair. Therefore, you need to make the selection prudently.

You should not only ensure that he can customise the solution to your business’s specific needs but also should be able to deliver the best results.

But, all partners are not worth hiring because not all of them can deliver good results. Therefore, you have to assess your prospective partner before engaging.

Conclusion

With the software, you can get real-time visibility into your inventory. Moreover, the software can automate and streamline your inventory management. It also helps to track and synchronize logistics across all facilities and warehouses. As a result, you can improve your ordering management—besides the predictive insights to help identify inventory issues.