Wholesale businesses can leverage the core capabilities of an inventively orchestrated software suite to overcome key impediments and scale with greater efficiency than before. Particularly, maintaining a huge inventory with efficiency is a hard nut to crack. In such a case, Microsoft Dynamics NAV Wholesale Distribution is the ultimate solution to gain a competitive edge and drive higher profitability.
Administrators can go through the following capabilities NAV offers to combat inventory challenges and optimize inventory operations.
You can set up items or products that you carry in your stock and specify their units of measure, costing methods, inventory posting groups, unit cost, and price, and other properties.
These may include:
· Post item transactions—sales, purchase, negative and positive adjustments from item journals.
· Quantity and cost records of the posted transactions. Particularly, it forms the basis for inventory valuation and other costing calculations.
Moreover, it is integrated with General Ledger. Also, it is unified with the posting processes in Sales and Receivables and Purchase and Payables for the proper configuration of all other Inventory granules.
Administrators in the wholesale distribution business can organize their warehouse by assigning items to bins. One can perform this bin assignment as the item journals or directly on the document lines.
Item Budgets and Charges
An extensively engineered Wholesale Distribution ERP Software enables businesses to make sales and purchase budgets on the customer, vendor, and item levels, and in both amounts and quantities. Here, one can prepare and record a sales budget to serve as input. This can help decision-makers in other operational areas, such as purchasing and logistics. Moreover, decision-makers gain insights about future expected demand, which they can include in business discussions with the customers. Once the budgets are prepared, one can track the actual sales performance by calculating the variance.
Additionally, administrators can manage items or products charges by including the value of additional cost components such as freight or insurance into the unit cost or unit price of an item.
With this inventive capability, you can manage and track serial and lot numbers. Leveraging NAV for Wholesale operations enables you to assign serial or lot numbers both manually or automatically. With this, you can receive and ship multiple quantities with serial or lot numbers from a single order line entry.
With the deployment of Microsoft Dynamics NAV Wholesale Distribution, you can avail of this capability to specify a list of sellable items, including raw materials, sub-assemblies, or resources as Assembly Bill of Materials. These assemblies comprise a finished item or a kit. You can use assembly orders to replenish assembly items to stock or capture the customer’s special requirements to the kit’s bill of materials directly from the sales quote, blanket, and order line.
One of the most extensive features of this intuitive software suite is its location management. Here, you can track inventory as it moves from one location to another. Next, you can account for the value of inventory in transit and at various locations as well.
Furthermore, it allows businesses to manage inventory in multiple locations that can be a production plant, distribution centers, warehouses, showrooms, retail outlets, and service cars.
Administrators can manage stock-keeping units for identical items with the same item number that can be stored in different locations and managed individually at each location. Also, this software suite allows them to add cost prices, replenishment, and production information, based on the location.
On a final note, an acclaimed NAV service provider partner can let businesses gain unmatched success, drive higher efficiency, and retain greater productivity in the long run.
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