Planning is essential for the success of any business, within any industry. If a company has a plan to follow, leaders are far better equipped to deal with whatever comes their way in the future and what it holds. It’s also worth noting that a plan helps create a much needed focus for a business, bringing both staff of all levels together as they head toward a common goal. Having the ability to plan however, will depend greatly on the equipment and software you have to work with.
Today we’re looking at Microsoft Dynamics 365 Business Central and how it helps with planning for the future.
Planning Functionalities In Business Central
Planning has two distinct elements. These are demand and supply. Microsoft Dynamics 365 Business Central boasts a planning system that factors all supply and demand data into consideration in order to create suggestions for future planning making it the ideal business management software. Here’s how it works…
Supply & Demand
Demand is the general term used for any requirement such as sales order or service order, along with component needs from assembly or even production orders.
Supply is the general term used for anything related to replenishment of inventory, a purchase order or production order.
One such goal of the planning system is that the inventory doesn’t begin to outgrow the demand. In order to achieve this, the planning system with Business Central will for example, suggest postponements of production orders or cancel existing replenishment orders and even decrease quantities.
Along with planning calculations however, that ensure your current and future supply and demand plans are taken care of, Microsoft Dynamics 365 Business Central also boasts incredible demand forecast capabilities.
Demand Forecasting
With the demand forecast page you can create sales and production forecasts. This is a great functionality to make use of to help create anticipated demand.
The forecasting functionality within the application can be utilised to create sales or production forecasts. This can be done in combination or independently. For example, if you’re a make to order company, you won’t carry finished products within your inventory.
Anticipating orders with the help of sales forecasting, is therefore critical to ensure a reasonable turnaround time when it comes to finished goods, (production forecasting). To break this down for you;
- Sales forecasting – this is an educated guess as to what will be sold in the future.
- Production forecasting – this is an educated guess as to how many end items to produce in order to meet the forecasted sales.
For the most part, production planners will modify the sales forecast to fit the conditions of production but will still ensure it satisfies the sales forecast.
Contact D365 experts Today
Having such an ability to plan and forecast for the future will not only help you meet your needs but will help save time and money as your inventory remains balanced with the demand from your customer base.
If you’d like to find out more information on Microsoft Dynamics 365 Business Central, we suggest you contact the talented bunch at D365 experts, Dynamics 365 partners who specialise in Business Central, providing support and guidance throughout installation and beyond. Call 01268 724 005 today.
