Businesses implement Microsoft Dynamics NAV for better inventory management

February 7, 2017
February 7, 2017 Ken Jacobsen

Businesses implement Microsoft Dynamics NAV for better inventory management

Microsoft Dynamics NAV helps companies manage inventory.

ERP integration helps eliminate inventory mistakes that cost businesses money. Outside of the obvious expenses associated with damaged, misplaced, spoiled or lost merchandise, just having the wrong number of products on warehouse shelves can be expensive.

An IHL Consultancy research study found stock outs and overstocking costs companies around the world $1.1 trillion yearly. When consumers can’t find the products they want, they go to competitors, while keeping items on the shelf too long created storage costs and opportunities for other problems.

One of the reasons for inventory discrepancies is a lack of visibility. Most of the companies studied by IHL only perform inventory counts once a year and in doing so discover expectations for numbers were off by as much as 25 percent. Mobile enabled solutions like Microsoft Dynamics NAV offer cloud-deployed capabilities that make it easier to monitor inventory levels and product movements.

The benefits of Microsoft Dynamics NAV Implementing ERP solutions helps businesses turn inventory activities into observable data. MSDymaicsWorld.com detailed how utilizing Microsoft Dynamics NAV allows companies to avoid the common problems that lead to inventory discrepancies.

A unified system facilitates data updates visible to all users. If a mistake is made, it’s easier to spot than when a company has multiple data silos. Mobile Dynamics NAV allows workers to adjust inventory numbers as they walk through their warehouse. Microsoft Dynamics 365 for Sales integration with Dynamics NAV  provides users with a system that can compare in-store and online sales with stock levels and send alerts to the sales and inventory management teams when numbers dip below pre-established benchmarks.

Microsoft Dynamics NAV offers multiple capabilities for making smarter inventory decisions. The Adjust Cost feature tracks the cost of each piece of merchandise so businesses can be sure of the profit they make from each sale. Comparing accurate ERP data to consumer demand ensures the company stocks the inventory most likely to bring success.

ERP Implementation When a business decides to gain better insight into inventory activities, it should find an ERP partner ready to visit the current warehouse. The most effective way to implement business software solutions is to find technology suited for specific industries.

Microsoft Dynamics NAV provides inventory solutions for organizations of every size, but the system is also customizable. Working with an ERP consultant like The TM Group well-versed in a company’s needs helps users focus on the performance they require. A custom system provides automated performance with data tailored to a company’s unique inventory and sales channels.

[JT1]This is just not right.  It’s the second time I’ve seen reference to Dynamics 365 for Sales integrated with Dynamics NAV – it should be Dynamics 365 for Financials or it should make reference to formerly being known as CRM.  I don’t even think we can sell it that way anymore.  Fix it however you want it.

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