Season 2, Episode 1 : How does Business Central assist in optimising stock levels for clients with inventory record challenges?

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Are you an accountant recommending cloud accounting software to your clients? Perhaps you've been suggesting Xero. Well, in Series 1, we outlined reasons for accountants to explore Business Central as a recommendation over Xero. With its recognition as the number one ERP system by Forbes and a 75% annual growth in customer onboarding, we think it's time for accountants to understand the key benefits of Business Central which is why this series is all about providing a deep dive into some of Business Centrals stand out features. I’m Laura at Creative and welcome to series 2 of dynamics unwrapped…

So, one of the key features that Business Central has that would make it a preferred option over Xero is inventory management, and for organisations handling stock, accurate visibility is crucial for assessing profitability, controlling purchases, and fulfilling customer orders. Business Central's inventory management provides real-time visibility, empowering users to monitor stock levels accurately and make informed decisions.  

So, how does this work? The warehousing features guides employees on where to put-away incoming stock, optimising the process with preferred or floating bins. Equally, when fulfilling an order, the system directs picking employees to the precise stock location and if stock has been allocated to another order but remains unpicked, the system recognises its unavailability and selects stock from an alternative location. It’s key to note that in Business Central, a warehouse is referred to as a location which means a van can also serve as a location for storing or picking stock. Therefore, inventory can be organised efficiently, facilitating orderly storage and retrieval processes.  

Also, Business Central can automate reordering by establishing reorder points and quantities, therefore preventing stockouts and ensuring optimal levels.

Finally, serial and lot tracking ensure that organisations can have detailed tracking of individual items thereby enhancing traceability and compliance with regulatory requirements.  

There’s lots of other inventory management features within the system such as providing true landed costs of goods sold and therefore true profitability. So, for accountants whose clients manage stock, Business Central can automate a lot of these processes and ensure that real-time stock and value is maintained which is vital. Therefore, this is key for organisations and should be taken into consideration when recommending accounting software. So, if this is something you would like to know more about be sure to get in touch, otherwise get ready to learn why Business Central is currently one of the fastest growing ERP systems.

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