Many companies execute their supply chain management through different applications that are either outsourced or developed internally. When applications and their data schemes are unique, the time spent in synchronizing them and avoiding duplication becomes quite a hassle.
Therefore, it is recommended to use software solutions such as Dynamics 365 to manage inventory as it seamlessly connects all applications. Its intelligent insights feature generates real-time reports granting businesses much-needed visibility in their supply chain and inventory.
Below we will cover the key reasons why companies should use Dynamics 365 to manage their inventory. But before we do that, let us talk briefly about the industries this is relevant for.
Retail industry
One of the core competencies on which the retail industry competes is agility, robust supply chain management, and quick order to delivery processes. All of this cannot happen without a sound, reliable, and blazing-fast supply chain, and inventory management system. Under the retail industry, the same need is prevalent for any vertical, be it Fashion and Apparel or Grocery.
ECommerce industry
While it lies under retail, it is important to mention it separately due to the crucial nature of ensuring that the online or in-app customer sees the right (read: accurate) inventory at the right (read: in real-time) to avoid any unpleasant customer experiences.
Textile industry
Textile factories need a software solution that could manage everything from managing raw materials to storing the final products in the warehouses or displaying them in online or physical stores. Dynamics 365 brings innovative functionalities that warrant operational efficiency and offer solutions to all the pain points in supply chain management. Businesses can get comprehensive control over their production management, product characteristics, quality checks, merchandise management, convenient store distribution, and mobile functionalities with Dynamics 365 textile industry.
Manufacturing industry
Manufacturing businesses face multidimensional challenges and can no longer conduct processes using old ways due to the mushroomed growth of the global economy. Businesses in the manufacturing industry can use Dynamics 365 to digitalize raw material procurement, product design, inventory management, production machine scheduling, process optimization, and resource allocation.
Wholesale and distribution industry
Many retailers and manufacturers have started utilizing online business models to keep up with the rapidly evolving customer demands. If businesses in the wholesale and distribution industry need to keep up with them, they need to move from a catalog-driven model to Dynamics 365. This software system will allow them to digitalize operations, run warehouse operations where inventory goods are moved frequently, manage clients, secure sales channels, optimize staff productivity, and feature products online.
Other industries
Goes without saying that this is applicable for any industry where you have a supply chain and inventory management process, which is one of the core business areas where cost and process optimizations can reap countless benefits. Be it pharmaceutical, health and hospital care, automotive, etc.
Now that we have covered the industries this applies to, here are 6 key reasons to implement and adopt Dynamics 365 to manage inventory:
All apps and modules integrated into a single solution
Dynamics 365 is a single software solution that integrates core business processes. This allows organizations to streamline planning, production, inventory, warehouse, stock, and transportation. Companies can manage inventory without encountering any data scheme conflicts and wasting time mitigating data duplications.
AI-powered predictive insights with IoT capabilities
Dynamics 365 offers intelligent predictive insights powered by Artificial Intelligence (AI) and supports the Internet of Things (IoT) capabilities, allowing them to control the life span of perishable items and monitor fresh product storage from any location.
Businesses operating at various locations need to move inventory items regularly. Dynamics 365 secures procurement process by not only identifying the fastest route to a particular warehouse but also by offering the least expensive shipment rate. It comes complete with all the tools needed to ensure coordination and agility and allows organizations to stay informed about inventory items and timely respond to orders.
