The retail sector is witnessing an ever-rising need for new tools and methodologies for inventory optimization that would save costs, free up resources, and improve operational efficiency. Dynamics 365 plays a vital role in getting to the right product to the right customer at the right moment, replenishing stocks, and collating between demands and supplies.
1. Automated Replenishment of Stocks
The Dynamics 365 platform for Retail allows the timely evaluation and assessment of storage costs and simplifies overall inventory management. This boosts overall service levels and overcomes hassles from traditional methods of inventory management. It also ensures replenishment of stocks within the deadline to boost customer expectations. This also helps in alleviating the pressure from competitors as well as fluctuating market conditions.
2. Unified Inventory Management
Customers expect to be equipped with the right tools to choose a specific product and opt for the mode of delivery. Dynamics 365 offers options such as Buyer’s Push and Cross Docking in order to select the mode of delivery: online, in-store, kiosk, doorstep delivery, or others – and schedule the same accordingly. This aids in timely product availability and enables customers or clients to take informed purchase decisions.
3. Accurate Demand Forecasts
Traditional demand forecasting has now become stale in terms of quality and real-time scenarios. In order to procure the right levels of stocks across their sales channels, retailers must forecast demand with accuracy. In this direction, Dynamics 365 has been playing an increasingly pivotal role with data-driven capabilities that are aided with third-party tools such as the Cortana Intelligence. The suite reads data and transforms the same into intelligent actions to replenish stock, by virtue of real-time interaction among humans and automated supply chain systems.
4. Improved Inventory Analytics
By virtue of advanced analytics and crucial insights on the supply chain, Dynamics 365 empowers inventory control managers and executives with precise numbers on current stocks and provisions. The built-in machine learning capability powers warehouse personnel in making informed decisions based on advanced shelf analysis based on real-time images of the shelves or racks uploaded to the cloud.
5. Suggested Product Recommendations
An instant recommendation of the right product for a specific customer reduces the time and efforts of sales personnel on the go. With gadgets powered by intelligence, the retailers can engage with customers across relevant channels; that would eventually help in cross-selling, by eventually introducing prospects to offers and roll-outs that precisely fit their needs. Dynamics 365 for Retail can drill down data based on the customers’ previous cart history, wish list on profiles, and relevant cues on ranges or flavors of choice.
With its cutting-edge features and ability to liaise with the third-party enterprise software with seamless integration, Dynamics 365 can handle operations in a dynamic multi-national and multi-channel footprint of retail firms across geographies.