Managing Your Business Through Uncertain Times Using Dynamics 365 Finance and Operations
Dynamics 365 Finance and Operations (F&O) can help you make informed decisions on how to move your business forward.
As we move past the Covid-19 pandemic, thinking about how your business and how it runs in this new world should be at the top of your priority list. You should be asking yourself the following questions:
- What kind of manufacturing operates your business? Has it changed and are there any struggles you need to overcome?
- How do you plan, execute, and finalize your production life cycle?
- Is the flow of information through your business to employees and customers effective?
- Is your business process working? Or does it need to improve?
- How can you make your business technology better for both your internal users and customers?
How Dynamics 365 Finance and Operations Can Help
Running processes and simulations to help you answer these questions can go a long way. That is where Dynamics 365 Finance and Operations comes in. It contains features that allow you to forecast your business output and revenue to help you make informed decisions, more intelligently manage your customer orders, obtain up-to-date supply chain suggestions, and optimize the technology your employees and customers use.
Communicating Effectively with Dynamics 365 Finance and Operations
Dynamics 365 F&O can help you get an understanding of how information flows in your company to your employees and customers. It does this in a few different ways:
- It connects you with Supply Chain Business Networks - These allow you to get a holistic view of every aspect of your business process through shared data. One size fits all models of doing business are gone. Every business and even different products within that business are unique and might require a different process. You can analyze data from suppliers, logistics centres, distribution channels, buyers, and manufacturers to get a clear view of all aspects of your business
- Helps you create a master schedule - You need to know when to get your products out and how to do it efficiently. You can also break your items down into smaller classes to analyze your sales in a more specific way
- Going mobile - Phone apps are on the rise and every business, yours included, should be thinking about them. People can and want to be able to do everything on their phones, and by helping them do that, you will be putting the power in your user's hands and responding to a flexible new supply chain
Forecasting with Dynamics 365 Finance and Operations
Dynamics 365 Demand Forecasting is a vital part of Finance and Operations. It is a planning function that can help you forecast important parts of your business so you can create better outputs by using current and historical data.
The basic flow of Demand Forecasting goes like this:
- You gather past transactional data from your Dynamics 365 database
- You use machine learning and AI to generate a forecast based on historical demand
- You can view and make changes to the forecast based on machine learning
- Then you can authorize your forecast to make informed business decisions when using your Dynamics 365 F&O software solutions
After you follow these steps you can then run simulations based on all the information collected to more intelligently manage your business and increase efficiency. You can also utilize Dynamics 365 Intelligent Order Management, Shop Floor Data, and the Planning Engine.
Putting People First with Dynamics 365 Finance and Operations
At the end of the day, people are at the heart of a business. Whether that is the employees who help things run smoothly, or the customers who are purchasing products, your business doesn't run without good people behind it.
Dynamics 365 F&O and all the features mentioned in this blog can be personalized. It's important to sit down with your users, ensure they have the proper training, and ensure you are optimizing their screentime by letting them see the data the way they want to see it and making sure their views and workspaces are tailored to fit their work-style. The more interactive, engaging, and educational your software solutions are the more people are likely to interact with them in a productive way.
Ask them one question: How can we improve your interface for you?
Stoneridge Software has a team of experts eager to help you implement and get the most out of these solutions! Get in touch with us to optimize your system.