Why Do You Need an Inventory Management Plugin for Dynamics CRM?

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Why Do You Need an Inventory Management Plugin
for Dynamics CRM?
In order to make profits out of ones business
and maintain cash flow properly, it is very
important to manage inventory in the right way.
And as inventory management is an innate part of
your business, there is no way you should
compromise with it. An ideal inventory management
solution is the one that helps you to streamline
inventory related tasks and gives you stock
updates in real time.
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However, the default Dynamics CRM systems
inventory management functionalities are not
integrated with order processing. A superior
quality inventory management plugin is the one
that facilitates smooth transaction flow by
helping you get rid of issues like stock-outs or
other hindrances in production and selling
process. Through this blog, we will help you
understand why it is important to have an
inventory management plugin for your Dynamics CRM
system. Keep human errors at bay Flipping
through pages, making charts and setting
reminders in your devices might not work in a
long run. Especially, when your business starts
growing, mistakes in noting down things on time
might lead you to incur huge losses! This is why
you need a system that generates orders and
invoices automatically and keeps a record of your
outward and inward flow of stocks. Once you
install a smart inventory manager in your system,
human errors can be avoided. Manage purchases
easily It is difficult to track purchasing
trends of your company and manage the purchase
cycle of large orders on your own. Inventory
management plugin comes with purchasing assistant
module that provides you with all the information
about the expenses incurred. By looking at the
figure, you can decide your budget for different
products and save money by ordering in bulk. It
also becomes easy for you to manage your stock
purchases as you can get automated documents of
invoices and purchase orders. Also, you will
always have an idea about current stock status
and are less likely to run out of stocks.
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Keep a track of your inventory With inventory
plugin to your help, you do not have to indulge
into any manual work of noting down your
inventory or keeping a track of items
purchased/sold through papers. Inventory
management plugin makes it extremely easy to
track your inventory by providing you with all
the data about the number of products purchased,
number of products sold, amount of products
remaining in stock etc along with the reasons of
inflow and outflow of different
products. Generate Return Merchandise
Authorization (RMA) Things can get quite
cumbersome and difficult when orders get
cancelled or products are returned. Through
inventory management plugin, you can take care of
product returns without difficulty and order for
cancellations even if the order is fulfilled. You
can generate RMAs and manage stock for products
that are a part of RMA. As soon as RMA is
generated, you can make reports that include
details from RMA. Also, RMA reports can be saved
in a PDF format and printed whenever the need
be. Create Purchase Orders Having purchase
orders is mandatory for the companies that are
into selling products and have to order different
parts and materials. With the help of purchase
order module, you can generate a new order or
select one from the existing orders. All you have
to do is enter information like product name,
quantity, price per unit etc and choose the
available
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suppliers for a particular product. If you do not
assign a new supplier to the product again, it
will auto assign it. Generate purchase
invoice After you have generated Purchase order,
you have to create a purchase invoice. In order
to generate purchase invoice for Purchase Order,
you need to add the received quantity, or the
number of products received from the vendor and
make changes to the price of products if/when
needed. With the above mentioned advantages and
many more, a superior quality inventory
management plugin is all you need for your
Dynamics CRM system. Can you think of other ways
in which inventory management software can help?
Feel free to share with us!
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