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iCepts Technology Group, Inc.

Optimize Inventory Management and Replenishment with Dynamics NAV


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Optimize Inventory Management and Replenishment

With Microsoft Dynamics NAV ERP, you can take control of item inventories to maximize your inventory investments. Multi-dimensional inventory records mean you can identify items with as many variations and cross-references as you need.  With the fully integrated inventory management functionality of a Microsoft Dynamics NAV solution, you can:

  • Create item records and assign multiple SKUs as well as units of measure (UOMs), serial numbers, lot numbers, physical attributes, and expiry dates.
  • Create bins through a batch job that matches bin records with your physical warehouse layout.
  • Assign items to bin locations based on product storage requirements, sales rates, special handling requirements, or other criteria.
  • Identify slow-moving stock and items about to expire.
  • Separate inactive inventory from active stock and identify unprofitable inventory for disposition.
  • Look up available-to-promise and inbound shipment quantities to make customer promises with confidence and help ensure realistic delivery commitments.
  • Track items from supplier to customer to easily comply with traceability and chain-of-control mandates.
  • Reduce shrink and other carrying costs with accurate inventory tracking and up-to-date information for finely tuned replenishment decisions that help eliminate excess and aging stock.
  • Link inventory records for multiple warehouses to eliminate unnecessary stock outs and coordinate safety stock and replenishment.
  • Break down inventory costs according to categories such as materials, capacity, subcontracting, and overhead to understand cost of goods sold (COGS).
  • Control the value of inventory over time and gain accurate views of inventory costs by defining shorter open inventory periods that can be closed for posting as the fiscal year progresses.
  • Maintain accurate inventory records when you can implement cycle counting or update records on the fly with ADCS and RFID capabilities in the warehouse.
  • Achieve clear visibility into inventory turn rates, costs, slow-moving stock, item margins, and the profitability of individual items or product lines so you can make smart decisions and reduce inventory levels, costs, and warehouse space requirements.

Improve replenishment efficiency

You can optimize replenishment decisions and timing by using robust tools for inventory planning and replenishment. These tools help you:

  • Clearly understand item costs, cost components, and margins to determine profitable pricing.
  • Understand item lead times, volumes, and sales cycles to gain leverage with suppliers.
  • Integrate purchasing and sales information to support just-in-time replenishment.
  • Identify non-stock candidates for special orders or drop-shipment.

A Microsoft Dynamics NAV solution eliminates inventory headaches while giving you the insight to boost inventory efficiency.

Learn more about Microsoft Dynamics NAV here.

Posted by iCepts Technology Group, Inc. A Microsoft Dynamics NAV Partner in Pennsylvania 

One Response to “Optimize Inventory Management and Replenishment with Dynamics NAV”

  1. Caleb says:

    If you are not using an inventory management software for your business you are hindering your company and employees for performing efficiently and effectively at a high production rate.