Optimize Inventory Management and Replenishment
- 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.
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Posted by iCepts Technology Group, Inc.