For any organization, keeping the right inventory levels is crucial. While having too much stock might result in money being lost, having too little stock can result in lost sales chances. In order to maintain the proper balance, it is crucial to forecast your inventory levels. This blog will go through how to forecast inventory levels in Dynamics 365 Business Central.
The importance of inventory level forecasting
Forecasting inventory levels is important for various reasons:
- It enables you to forecast future inventory requirements and ensure you have the products you need to meet consumer demand.
- Assists you in identifying and addressing potential inventory-level concerns before they become a problem.
- It can assist you in optimizing your inventory levels and saving money on inventory expenditures.
How Does forecasting inventory levels in Dynamics 365 Business Central Work?
By evaluating historical data, the inventory levels forecasting tool predicts probable sales for users. This study also informs users about anticipated stock-outs. Finally, the extension’s major goal is to assist users in making appropriate replenishment decisions and vendor requests, saving the firm time.
Configuring Forecasting
Business Central is already linked to Azure AI, a third-party AI platform that assists in forecasting future sales. Users can, however, tailor their predictions by defining the time period it reports on, such as monthly or quarterly. You can also define the number of periods to be report. It monitors that users should create a monthly forecast with a 12-month perspective.
Final step
For your business to succeed in the market today, your supply chain operation must run smoothly. Contact us today at MetaOption to learn more about the other manufacturing features that Business Central offers.
