The pandemic has caused severe global supply chain disruption at a large scale due to simultaneous restrictions and lockdowns in multiple countries. It has put pressure on companies and will continue doing so. It has forced them to completely rethink their supply chains and reinvent them to meet the fluctuating consumer demands.
Businesses have to overcome such catastrophic events by being more flexible and agile. They will have to build a system that is robust and resilient. This system should be technology-driven with capabilities to support and overcome such challenges in the future.
Microsoft Dynamics 365 Business Central is a platform that suites this requirement completely. It is a platform that leverages technological advancements. Let us look at how it can help businesses overcome the challenges they might face due to supply chain disruptions.
Business Central is a platform with business-wide capabilities. It has modules covering all departments, including financial management, inventory management, customer relationship management, payroll management, omnichannel management, etc.
Thus, Business Central provides a unified view of the business that can help make strategic decisions based on the current market scenario. Any fluctuations could be handled quickly and efficiently, thereby reducing the negative impact it may cause. This end to end visibility of all the business processes is valuable for the company to make critical decisions quickly.
Business Central brings data of all departments on a single platform. It allows the stakeholders to access critical data across departments and across multiple locations to be available in real-time.
Since all the data is available in a single system, data management and data analysis become easy and productive. The firms can react to the market changes faster. Also, they can track instantaneously the raw materials required, their transit schedules, plan their production according to its arrival time, delivery of finished goods to outlets, financials, etc.
It can help a business make quick decisions, gain more flexibility, and provide better customer service. Also, since it is cloud-based, the data is available and accessible at any time and from anywhere.
China was the hub of the manufacturing and global supply chain industry. However, once the pandemic struck, the companies realised that they would have to diversify their supply chain and look at other options to reduce their risks.
Each location has specific requirements. Each will have different inventory management procedures, may slightly vary in the products they offer, various accounting and taxation rules depending on their geographic location, multiple currency dealings, etc.
It meant the companies would require a system that would make multi-location management less cumbersome and less complex.
Business Central can help efficiently manage the variances as it can help automate many processes and configure them for efficient multi-location management. For e.g., it auto-calculates the time an item should be re-ordered and received.
As mentioned earlier, it provides real-time information and any time anywhere data access, which will make operating business across multiple locations more manageable.
When the companies thought of widening their net, it meant adding more vendors to their list. Managing them will be essential for the business.
Business Central has a vendor management module that assists businesses in ensuring timely payments, placing orders, tracking vendor supplies, and various other aspects related to vendor management.
It offers multiple features like capabilities to:
Businesses had to keep a constant eye on the product stocks and plan their supply chain schedules according to consumer demands. If a fast-selling item is not available or if a slow-moving product is sitting on the shelf, in both cases company loses out on revenue. They needed constant intelligence about their SKUs, and that too for all the locations.
Business Central tracks the product stocks flying off the shelves and can also provide intelligence about those which experience reduced demands. Based on these real-time insights, businesses can adjust their supply chain and manage the supplies even in a multi-location setup.
Business Central also can help your business forecast better. The real-time insights from multiple locations in the market assist the business gauge the product demand. They can adjust their supply chain schedule as per the market intelligence they receive.
Also, users can create reports quickly based on the data available and make informed decisions about the supply chain requirements. The more accurate the forecast, the better will be their ability to meet the market demands. It will result in a positive impact on their bottom line.
As we can see, Microsoft Dynamics 365 Business Central offers numerous benefits and helps them overcome supply chain disruptions effectively and efficiently. If you are interested to know more about Microsoft Dynamics 365 Business Central for your business, you may connect to us at CocoonIT Services Pvt Ltd. We are a leading Microsoft Business Central ERP and Microsoft Dynamics 365 partner located in Mumbai.
We are a trusted Microsoft Gold partner offering intuitive Enterprise Technology Consulting and Automation implementation. We also provide ongoing support as per your business requirement.
We help businesses in their digital transformation journey by delivering Microsoft Business Automation tools, Power Apps, Microsoft Dynamics 365 Business Central, Microsoft Azure, Microsoft Power BI, and other technology solutions services and support.