View Top Selling Items Aged Inventory
In the Business Central dashboard, select Aged Inventory to see what inventory items have been present for over 120 days, and to see how long each item has been in inventory..
Once you’ve gained insight into the efficiency of your inventory determine what are your best selling items. From your Business Central dashboard select Items, then select Report, then Inventory, then Inventory Statistics, and finally select Inventory – Top 10 List.
You are now looking at a report of your best selling products, to aid you in taking informed decisions for future inventory needs.
Check Inventory and Vendor Lead Time
After determining what products are selling successfully for your business and what products are having a slow turnover rate, determine the vendor lead time for these items. What is the time from when a purchase order is made to when the item is assembled and ready to be distributed to buyers. This data, will help you avoid the risk of being out of stock for your most popular items, a key source of revenue.
Use the search function in Business Central located at the top right corner of your screen and search for Purchase Advice. This generates a report that shows both the total number of orders for your company’s items and the actual number in stock for each of these items.
When you see an item that’s out of stock, go to your dashboard again and select Vendors. From there, select Report, then Purchase, then Vendor/Item Purchases. Now youhave access to a Vendor/Item Purchases report that will show the lead time of all vendors.
Easily Restock Items
Through just a few simple clicks, you have a better understanding of what is selling for your company, what isn’t, and the general turnaround time for all of these products. Such information is what makes Business Central so beneficial for inventory management.
Use the insight gained on all inventory, to easily enter purchase invoices for items that are out of stock or close to being out of stock. Select Vendors from the dashboard screen to find the required vendor and then select Purchase Invoice, and enter the vendor invoice number along with the items purchased.
Once posted, the invoice is complete, and you don’t have to worry about being behind on inventory restock.
Future Inventory Stock
Leverage the information on inventory movement given to you by Business Central to predict future inventory needs. Go to your dashboard and find the Forecast application. Select the Forecast menu. Look at the Sales View and Inventory Forecast.
The Inventory Forecast gives you visibility and insight about upcoming inventory needs using data in Business Central. It provides predictions for when certain items will be out of stock by analyzing current inventory and consumer trends for your company.
Keep your warehouse data accurate and updated in a timely manner with mobile transactions and use of rfid/barcode technology and also to undertake perpetual and annual inventor counts.
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