Productivity in manufacturing not only depends on optimizing operations but also on how effectively you manage your financial and other resources. Modern manufacturing operations often rely on technology to optimize operations and management. Dynamics 365 Finance and Operations, a key component of the Dynamics 365 suite of applications, can prove to be an effective tool for the manufacturing industry when it comes to improving productivity with smarter fiscal management.
Evolvous develops and deploys custom solutions for manufacturing solutions. Our services are often based on Microsoft products like SharePoint, Power Platform and of course, Dynamics 365. We believe that innovative use of Dynamics 365 in manufacturing can help you improve productivity and increase return on investment through smarter fiscal management.
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Dynamics 365 Finance and Operations is an Enterprise Resource Planning (ERP) solution developed by Microsoft. It is a constituent of the broader Dynamics 365 suite of applications, which are specifically designed to streamline and enhance various aspects of business operations. Dynamics 365 finance and operations focuses on monetary management, supply chain management and manufacturing for large and medium-sized enterprises.
Evolvous is a certified Microsoft Gold partner, offering a wide range of solutions for Dynamics 365. Visit our Dynamics 365 page to find out more about our services.
Here are some the advantages of using Dynamics 365 finance and operations for your manufacturing business.
Lack of real-time visibility into production processes often hinders efficient planning and monitoring. This leads to delays, downtime, and inefficient utilization of resources.
With Dynamics 365 Finance and Operations, you can get real-time insights into your production workflows. This allows for optimal utilization of resources, and even streamline workflows, thereby improving overall production efficiency. This enables better planning, scheduling, and monitoring of manufacturing operations.
Traditional inventory management strategies result in inefficiencies like high carrying costs, stockouts, or excess stocks, leading to cost overruns. These are often caused by inaccurate demand forecasting, and consequent inefficient planning.
Dynamics 365 for finance and operations comes with advanced yet easy-to-use tools for demand forecasting, inventory optimization and even analyze the performance of suppliers. You can even integrate Microsoft Power BI with your Dynamics 365 Finance and Operations, create data models which would help you predict market demands as well as production bottlenecks more accurately.
Another advantage of using Dynamics 365 in manufacturing is that you can reduce the time taken to fulfill orders. Traditional order fulfilment systems rely on manual and disjointed processes in order processing, inventory, and production. This often results in prolonged order fulfilment and even potential delays.
With Dynamics 365 finance and operations, you can fully integrate order processing, managing inventory and product planning – all from one single dashboard. By unifying processes, you can reduce the order fulfillment cycle time.
Integrating Power BI with Dynamics 365 Finance and Operations will also help you create predictive analysis models that will help you uncover production bottlenecks and discover opportunities that help you to save costs.
The Cost of Goods Sold (COGS) is one of the major KPIs that the finance department of any manufacturing business needs to track regularly. However, finding ways to improve the COGS is a major challenge that many financial managers face.
Dynamics 365 for finance and operation, when setup efficiently, can allow you track your COGS in real time. Not only that, but you can also look at individual factors of COGS like raw materials and labor costs as well as manufacturing overheads. This would help you identify areas where you can save on COGS and get increased profitability.
At Evolvous, we follow a structured approach to implement Dynamics 365 finance and operations. This helps us to reduce the time to deploy, ensure faster adoption and get the desired results. Here are the steps that we normally go through to implement Dynamics 365 for manufacturing:
This is the most important stage of the process. We start by having a detailed discussion with your team to ensure that we clearly understand what your goals are. Here are some of the things that are normally included in this stage:
At this stage, we will be working towards designing and developing a custom solution for your needs, leveraging the key capabilities of Dynamics 365.
Finally, the customized solution will be deployed. However, even after the system is deployed, we will monitor and optimize the system to meet your changing needs.
GET STARTED TODAY: Transform your manufacturing process with our custom solutions for Dynamics 365. Contact our team to discuss your project and how our certified Dynamics 365 consultancy services can help you.