Inventory management is a cornerstone of any company within the wholesale and manufacturing business. Inventory reliability and high visibility of supply and demand are key factors to ensure the smooth functioning of all related operations. The Basic Inventory granule in Microsoft Dynamics NAV supports companies in achieving their goals of having accurate inventory data and reliable availability figures.
- Unlimited item classifications and information
- Real time inventory quantities
- Unlimited locations
- Serial number tracking
- Lot number tracking
- Sales order processing with quick history
- Purchase order processing with quick history
- Return management processing
- Transfer Orders
- Cycle counting
- Flexible costing including average, FIFO, LIFO, standard, and FEFO (based on expiration dates)
- Customer and vendor cross-reference item numbers
- Bar coding
- Recommended substitutions
- Key component of warehouse management modules
- Key component of manufacturing modules
- Improve customer satisfaction
Item Sales Forecasting and Procurement
As a distributor your largest and most costly asset is inventory. Reducing your inventory carrying cost and increasing margins can cause a greater effect on the bottom line than increased sales. By doing both, you will significantly increase profitability.
The Item Sales Forecasting and Procurement module actually forecasts sales of each individual product. It then aligns purchasing lead times with in-stock inventory, demand, and supply to suggest Purchase Order creation or modifications to existing Purchase Orders. Uses can then review and change or accept the suggestions and automatically perform the PO creations or modifications. AFP is the most comprehensive forecasting solution for the middle market available today.
Effective inventory management is essential when meeting customers’ needs and expectations for product availability. When forecasting inventory, there are many things to consider such as when to buy, what products to purchase and economical order quantity. When buying, are you ordering prematurely or in over abundance having to maintain overstocked inventory with no budget for current demands? Are you unsure about the immediate necessity of items ordered?
Predicting the future does not require a crystal ball. Calculating inventory levels needed to meet customer demands for the future can be accomplished by carefully analyzing data from the past. With a well developed approved stock list, Navision can help you forecast inventory for next week, next month or even six months from now.
Imagine efficiently stocking seasonal products, forecasting fluctuating supply demands and being able to project next year’s inventory expenses with one simple solution. Not only does Microsoft Dynamics NAV make it easy to manage inventory activity, but it also allows you to track unusual activity such as abnormal sales quantities, stock outs and new trends in usage.