Giving manufacturers and supply chain managers the resources they require to stay connected and utilize cutting-edge technology is more important than ever in this new digital transformation era. IoT, AI, and mixed reality are used for Dynamics 365 Supply Chain Management modules, a warehouse and operational management application, to give predictive insights, industrial productivity, and supply chain agility.
Surveys and Statistics of Supply Chains
Dynamics 365 Supply Chain Management, which also provides powerful tools to enhance your production process, will speed up your information flow. But before you go for it, you need to know some facts about the Supply Chains.
Approaching supply chain disruption
In a study by IDC, supply chain experts shared their thoughts on the best approach to dealing with interruptions in their own supply chains.
Some of their findings are:
- 60% of respondents believed increasing productivity and effectiveness was the best strategy to address disruptions.
- 22% thought it was best to put out fires with more fire. Old business models might be updated, or a new SOP could be implemented in an effort to resolve the problem.
- 18% believed they would naturally adapt to the changes if they dug in their heels and held firm.
Monitoring supply chain effectiveness
The supply chain is essential to how businesses run. In order to ensure that the supply chain is operating as it should, businesses must be aware of all actions taking place inside it. Unfortunately, many companies still don’t fully understand their supply networks.
Many supply chain experts are, therefore, unable to precisely track their operations. The fact that 69% of businesses lack complete visibility into their supply networks serves as evidence of this. On the other hand, individuals who make an effort to monitor their supply chain are only able to gauge daily performance, cost savings, and production rates.
Technological priorities
Forbes released yet another survey. They questioned supply chain experts about their top technological needs, and their figures are:
- 41% of solutions put more emphasis on data analysis.
- 39% put their focus on IoT solutions.
- 39% place the highest priority on cloud computing.
Developing supply chain resiliency
There is no denying that the COVID-19 outbreak seriously disrupted global supply networks. Since nothing comparable had occurred in years, many operators relied on tactics that only partially addressed their problems.
McKinsey polled supply chain experts to see if there was agreement on the best course of action.
This is what they found:
- For their essential raw resources, 53% intend to develop several sources.
- 47% intend to increase their stock of mission-critical goods and materials.
- 40% intend to increase their supplier base substantially.
- 38% intend to develop a supply chain that is more regionalized.
- 30% of companies want to offer fewer products.
How does Dynamics 365 supply chain fit?
Dynamics 365 SCM modules are designed to address the need to increase worker productivity. They contain built-in controls, including workspaces, charts, and key performance indicators (KPIs).
Businesses can keep track of all financial transactions in and out of the company in a General Ledger in Dynamics 365 finance. It is simpler to reconcile bank statements and financial management transactions by connecting several banks with particular accounts. Utilize the Procurement and Sourcing module’s change management or approval procedures to manage purchases, negotiations, and purchase agreements related to various vendors.
You can manage where things are kept in your company’s warehouse and keep track of how they move through the supply chain. Dynamics 365 Inventory management can also be used to keep track of procedures for quality checks, counting, transfers, and quarantine.
It is simpler to keep track of any sales orders, negotiations, and sales agreements connected to certain customers when using a sales and marketing module. Employees can manage returns and other related processes.
- Asset management
- Centralized Inventory management
- Better Demand Forecasting
- Scalable Configuration Models
- Personalized Production Floor Management Workspace
- Production Control
- Power BI Integration
- Distributed Order Management
- Order Transportation
Get in Touch
A key component of growing a business has a successful supply chain management system. For the sake of customers and the financial line, businesses should work to enhance their supply chains, and there is no better choice than a Microsoft Dynamics 365 SCM. Contact DHRP to meet our Dynamics 365 SCM experts and specialists for consultation.
