Simplify your Procurement Process with Microsoft Dynamics 365 Supply Chain Management
Microsoft Dynamics 365 Supply Chain Management can assist your firm in centralizing and managing the purchase requisitions from each area of your organization, controlling the approval process, and taking advantage of the consolidation opportunities while having unified data to further reporting and analysis, thus, simplifying the procurement process.
Throughout this blog, I will highlight the main capabilities of the Purchase requisition functionality that Microsoft Dynamics 365 has available in its Procurement and Sourcing module and how you can harness them in your day to day operations as actors in the aquaculture sector, based on takeaways from successful implementations in the land-based aquaculture industry.
Manage goods and services acquisition requests
When purchasing feed to sustain
your fish, contracting a water quality laboratory test, buying any spare part
required for keeping your RAS flow, or even acquiring office supplies for your
administrative duties, the Procurement and Sourcing module facilitates the job.
It allows you to structure a process flow where any employee of your
organization is enabled to create Purchase Requisitions, including the goods to
purchase and required quantities, attaching quotes of potential suppliers, and even
redirecting the requisition to an RFQ process (Request For Quotations) to obtain
and manage offers from your vendors.
With these capabilities, you
will waive any email, memo, or call from any department of your company asking
the procurement clerk to purchase items and will help you in managing all
purchase requirements more efficiently in a centralized system.
Give the green light to requisitions and get
them ready for purchasing
Once the Purchase Requisitions
is created in Dynamics 365 Supply Chain Management, you are enabled to submit
its approval by configuring a workflow based on approval criteria, such as the
requestor’s department, supervisor, signing limits, and alike. This workflow
will lead the requisition through a route where the right approver will review
and give the green light for converting Purchase Requisitions into Purchase
Savings in time and effort are
guaranteed for the Procurement department that will receive only approved
requisitions. They will have all the information available and the visibility to,
for instance, aggregate quantities of feed items present in different Purchase
Requisitions to take advantage of price benefits per volume, or to consolidate office
supplies Purchase Requisitions from different areas in a single Purchase Order.
Monitor and extract relevant information for
Handling your procurement
process in the Dynamics 365 environment will enable you to record data for
calculating statistics to get insights from your purchasing transactions. For
instance, you can generate reports about the open items purchased, by department
or by the vendor, in any given period, and the associated costs and expenses
allocation. Likewise, you will be able to track the historical prices and the vendors’
supply performance to negotiate new terms that benefit your company. You can even
analyze the volume of purchase requisitions submitted and processed to assess
the workload of your procurement department and have a more balanced capacity
of your resources.
To Summarize, the procurement process
turns into a difficult task in companies within thriving sectors like aquaculture.
Appropriate control and management supported in a robust system are needed,
and Microsoft Dynamics 365 Supply Chain Management can assist you in administering
the purchase requisitions, handling approvals and creation of purchase orders,
and providing relevant data to run your business and lead your company to
Thank you for reading this
blog! I hope you have gotten a sense of the Microsoft Dynamics 365 Supply Chain
Management capabilities to support your business procurement process during purchasing
orders with purchase requisitions.
And if you want to learn how the solution applies to your business’ specific needs, please contact us
Dynamics 365 Trade and Logistics Consultant
Diego is a Logistics and Supply Chain Management professional with 8 years of experience in demand and inventory management. Skillful in Dynamics 365 Supply Chain Management and in bringing efficiency to organizations