Microsoft Dynamics NAV 2013 has robust analysis reports for better inventory management. With analysis reports, 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 item entries, this granule provides a customizable, analytic view that enables people to add and combine analysis objects—customers, items, and vendors—according to their needs.
You can: Present figures in both amounts and quantities and compare by periods as well as against budget. When the figures are put in a formula, they can become an indicator of the company’s performance and, importantly, you can drill down to locate the cause of problems.
Advanced Inventory Management ERP solutions allow you to set up items that you carry in your stock and specify their unit of measures, costing method, inventory posting group, unit cost and price and other properties. Post item transactions, such as sales, purchase, negative and positive adjustments from item journals. Quantity and cost records of the posted transactions are stored in the inventory ledger that is the basis for inventory valuation and other costing calculations.
Inventory Management extends into the warehouse with bin management in which you can organize your warehouse by assigning items to bins, the smallest unit in the warehouse logical structure. Bin assignment is done as the item journals or directly on the document lines (does not apply to order lines). While cycle counting allows you a manage cycle counting, a basic method of verifying inventory record data used to maintain and increase inventory accuracy. Set up cycle counting on the item or SKU level.
Managing stock-keeping units (SKUs) are important to note as a way to control identical items with the same item number can be stored in different locations and managed individually at each location. Add cost prices, replenishment, manufacturing information, and so on, based on the location.
Financial Management in linked with inventory with Microsoft Dynamics NAV’s Standard Cost Worksheet in which allows you to efficiently review and update standard costs with this worksheet. The standard cost worksheet provides a company’s controllers with a reliable and efficient way to maintain accurate and up-to-date inventory costs. Work with standard cost updates the same way you work with an Excel spreadsheet but within the framework of Microsoft Dynamics NAV.
Because it provides an overview of the current standard costs, the worksheet is a convenient place to prepare for a cost update without the changes having an immediate effect in the system. Using this worksheet, you can carry out cost updates for both the purchased components and capacity by using different sorting criteria in several worksheets simultaneously, and then later consolidate them into one.
Furthermore, cost worksheets can obtain information that can help you identify and avoid potential errors by simulating the cost of the manufactured item due to changes in components and/or capacity use cost and then viewing the effect. Plus, help ensure that you execute the changes at a given date and that any revaluation resulting from cost changes is dealt with in the system.
Next Steps: Visit our Microsoft Dynamics NAV 2013 Website