Overview of Product Compliance Features in Dynamics 365 for Finance & Operations
Many businesses have the need to manage some level of product or inventory compliance in conjunction with various regulations or requirements. The good news is that Dynamics 365 for Finance and Operations can assist with this!
This blog provides both an overview of the functionality that exists for product compliance features in Dynamics 365 for Finance and Operations AND links to more detailed information to get you started with leveraging them. To better understand which areas might be the of the most interest, let’s review some terminology.
Regulated product: A product should be identified as a regulated product if it is regulated by a government agency. There are various types of compliance needs and audit reporting may also be required.
Regarding regulated products, there is the ability to create lists by country or region. For each list, the regulated products are assigned. There is also the ability to create a report relationship to each list. Regulated product settings are covered in Managing Product Safety Data Sheets in Dynamics 365 for Finance and Operations.
Restricted product: A product is defined as a restricted product if the distribution of this product is limited or constrained by a government agency.
Inclusive and exclusive lists may be established to support the restricted product handling in the system. Products identified on exclusive lists are not permitted to be shipped to the restricted areas or regions. To find out more about using this feature, please see Working with Restricted Products in Dynamics 365 for Finance and Operations.
Reported product: In conjunction with regulation, a reported product is subject to a reporting requirement established at a regional or national authority level. Typically, the reporting requirement is that a company or business must report on the usage of such a product.
Reporting for individual and identified authorities or agencies may be established. To find out more about using this feature, please see Generating Product Compliance Reports in Dynamics 365 for Finance and Operations.
Product safety data sheet: A product safety data sheet is a document that contains information regarding potential hazard, safe handling, emergency guidance, and other related information about the product. These are also known as material safety data sheets.
Dynamics introduces compliance administration functionality to assist in both ensuring that the current documents are obtained and updated as needed. These documents may be viewed in the system and validated as a current version. Documents missing, expired, or nearing expiration may be identified and directed to the attention of a compliance manager. The management of both sales (outgoing) and procurement (incoming) safety data sheets is contained here: Managing Product Safety Data Sheets in Dynamics 365 for Finance and Operations.
Let us know if you'd like to learn more about how D365 for Finance and Operations can help you with product or inventory compliance.