Microsoft’s continued commitment and development of the Enterprise Resource Planning Systems has resulted in the release of the Dynamics NAV Inventory.
Dynamics NAV Inventory is a robust business solution from Microsoft that continues to be enhanced which is quick to implement, easy to use and has the power to support your business ambitions. Key for the Dynamics Navision Inventory is integration and simplicity.
This latest ERP solution provides the significant enhancements to the core app. With the Dynamics Navision Inventory Management Improvements, your company can gain greater efficiency, streamline your supply chain and meet customers’ demands.
Below are some of the key Microsoft Dynamics Navision Inventory Management Functionality:
Set up the alternative vendors for the item, mention the lead times used by a particular vendor to deliver that item, and associated price and discount agreements for that item with each vendor.
Mention the list of sell-able items, raw materials, sub-assemblies and/or resources as the Assembly Bill of Materials that comprises a finished item or a kit.
Provide the company decision-makers, especially those with overall responsibility for sales, purchases, and product portfolio management, with an efficient and flexible way to get meaningful information out of the system to inform day-to-day decisions.
Built on the item entries, this granule gives the customizable, analytic see that enables people to include and combine the analysis objects-customers, items, and the vendors-according to their needs.
Set up the items that you carry in your stock and mention their unit of measures, costing method, inventory posting group, unit cost and price, and the other properties.
Post item transactions, such as the sales, purchase, negative and positive adjustments from item journals. Quantity and the cost records of the posted transactions are stored in an inventory ledger that is the basis for the inventory valuation and other costing calculations.
Integrated with General Ledger and with the posting processes in the Sales and Receivables and Purchase and Payables, this granule is required for the configuration of all the other Inventory granules.
Organize your warehouse by assigning the items to bins, the smallest unit in a warehouse logical structure. Bin assignment is completed as the item journals or directly on the document lines.
Manage the cycle counting, the basic method of verifying the inventory record information used to maintain and increase the inventory accuracy. Set up the cycle counting on the item.
Use the item attributes to include the custom information, such as color, country of manufacture, size, or product dimensions, to applicable items, supplementing built-in global item fields.
You can define your own type of attribute options, including list, text, integer, and decimal, along with the unit of measure for the two latter numeric types. Attribute names and the option list entries can also be translated to help the multiple language requirements.
You can also block the attributes from being used in the future, for example, if they are no longer applicable. When you include the items to sales and purchase the documents, or just organize your items, you can see and filter on the attribute values to limit the list of items to select from or take action on.
Create the sales and purchase budgets on the customer, vendor, and the item levels, and in both amounts and quantities.
Prepare and record the sales budget that can serve as input to decision-makers in the other operational areas, such as purchasing and logistics. Decision-makers gain the data about future expected demand they can use for business discussions with the customers.
After budgets are made, track the actual sales performance by means of calculating a variance. The ability to move the budgeted figures between the system and the Excel gives the additional flexibility to the budgeting process.
Use the item categories to group items into a hierarchical structure and you can define your own custom categories, assigning the attributes to each category.
When you include the items to a category, the items inherit the attributes of the category, ensuring that the common set of attributes on items in the same category, and saving you time. If required, you can still assign the item-specific attributes to the particular items.
Manage item charges. Include the value of additional cost components such as the freight or insurance into the unit cost or the unit price of the item.
Link the items with the same characteristics so that if the customer orders the item that is unavailable, you can offer the substitute items and avoid losing the sale. Or, provide the extra service to your customer by providing the lower-cost alternatives.
Manage and track serial and lot numbers. Assign the serial or a lot of numbers manually or automatically, and receive and the ship multiple quantities with the serial/lot numbers from a single order line entry.
Track the inventory as it is moved from one location to another and account for the value of inventory in transit and at various locations.
Manage the inventory in the multiple locations that may represent the production plant, distribution centers, warehouses, showrooms, retail outlets, and the service cars.
Offer items to the customers that are not part of your regular inventory but that you can order from vendor or manufacturer on a one-off basis. Such items are registered as the nonstock items but otherwise they are treated like any other item.
Enable the warehouse workers to make the pick from the released order. The pick is managed from a separate user interface when shipping items in an order-by-order environment.
Manage stock-keeping units (SKUs). Identical items with the same item number can be stored in other locations and managed individually at each location. Add the cost prices, replenishment, manufacturing data, based on the location.
In the new enhancement to the inventory management, surcharges based on the gross weight and volume can now be assigned.
Gross weight and the volume are taken from the item card and units are converted based on this data.
The Image Analyzer extension uses the powerful image analytics given by Computer Vision API for the Microsoft Cognitive Services to detect the attributes in the images that you include to the items and the contact persons, so you can review and assign them.
For example, Image Analyzer can identify attributes such as if an item is a table or car: or red or blue, etc.
The technology suggests the attributes-based tags that the Computer Vision API finds with the confidence level.
Another example is the ability to recognize the contact person’s age or the gender. After you enable the extension, the Image Analyzer activates each time you include the image to an item or contact person. You’ll see the attributes, confidence level, and details right away, and can decide what to do with each attribute.
Robust Inventory Management Functionality:
NAV continues with advanced inventory management functions such as:
- Drop Shipments
- Multiple Locations
- Assembly Management
- Location Transfers
- Campaign Pricing
- Cycle Counting
- Warehouse Receipt
- Warehouse Shipment
- Warehouse Management Systems
- Internal Picks and Put Aways
- Automated Data Capture Systems (ADCS)
- Bin Set Up along with other inventory management functionalities.