How to Manage Purchases and Inventory In Dynamics CRM

For any business to run successfully, one must know how to manage purchases and inventory in the right way. Through automated inventory management, one can ensure that things don’t go out of stock and there is no hindrance with manufacturing and selling. In the same way, for the management of everyday sales, one needs to take care of purchases. Failing to manage the purchase process can weaken all the other business functions. If you are a business owner using already using Dynamics CRM, then you can easily manage purchases and inventory using a couple of plugins.

Managing Purchases In Dynamics CRM

For the managing the purchases smoothly using Dynamics CRM, you can install a plug in called Purchasing Assistant, which helps you to complete your purchasing process and makes it systematized using inventory and payment tracking. Here are some of its features which will help you to keep your purchasing woes at bay:

1. Keeps the orders accurate

With so many operations to handle, it becomes difficult to keep the manual records of purchases and invoices. Taking care of these records manually will lead you to make errors doubling up your logs. Purchase assistant’s automated processes will keep a perfect record of your process.

2. Solves legal problems

When you are running a business, you are sure to have differences of opinion and other issues with your merchants. Purchasing assistant can also help you resolve these issues. As soon as the purchase order is created, it provides legal clarifications for the vendor with a document that has all the details mentioned in case things go wrong.

3. Manages your budget

For any business to succeed, profit margins must be maintained properly. And to ensure that, the budget has to be taken care of. The plugin will help you to take care of your expenses and will be in charge of the amount you spend on buying products. It also displays what products are helping you to gain profits so that you would know which products to promote.

Managing Inventory In Dynamics CRM

A good CRM system is incomplete without a good inventory management feature. Inventory management enables you to handle your customers and stocks efficiently. If you are a user of Microsoft’s Dynamic CRM, Inventory Manager plugin can help you in streamlining your purchases and managing the stocks. Take a look at some of its features:

1. Tracks inventory

If you have inventory management plugin integrated in your CRM system, you do not have to worry about keeping a manual record of your inventory. It will take care of all the details including products purchased, sold and the ones that are in the stock. It also provides you with the reasons behind inflow and outflow of the stock.

2. Manages documents

No need to face hassles with the documents needed to manage purchases and sales. Inventory management plugin will take care of your documents by automating them. All the documents including purchase orders and invoices can be automated by Inventory Manager. You can also edit the invoices and feed details about the prices of the products and the products received.

3. Facilitates balanced stock levels

It is important for the store owners to keep a stock of goods to make sure that they can be delivered to the customers on time. Inventory management keeps a record of low stock management so that you can get a notification when the products are low in stock.

Maulik Shah is the Founder and CEO of AppJetty, a fast growing IT solutions provider specializing in ecommerce and CRM plugins development including Dynamics CRM plugins like Inventory Manager and Purchasing Assistant. Maulik is a tech enthusiast and writes about the various aspects of ecommerce technology.