A business is as much about purchases as it is about sales. It is vital for the business owner to source his products from the right dealers and more importantly, at the right time. Inventory management plays an important role in ordering your purchases when your stocks are depleting. Though it might seem to be an easy process to buy and sell products, there is a much tedious process that goes behind a good management. You need to order your requirements well in time before your stock for that particular product deplete completely and also take care of the typical time a producer takes to deliver the purchases, so that you can order your products well in time. Apart from that, you have to ensure if the orders have been received on time and in good condition. There should also be legal clarity on purchase related issue. A lot of work, isn’t it? Is there any way to make it simpler?
Fortunately enough, yes. The Purchasing Assistant Dynamics CRM Plug-n can take away all your woes by effectively managing your purchase orders in Dynamics CRM. Let’s have a look at what all it can do:
Purchase management includes everything from keeping a check on the inventory to ensuring that you have received the products ordered. The plug-in gives you a clear idea about your inventory reflecting the products which needs replenishment so that you can order them well before going out of stock. It also helps you to record if all the purchased orders had been received.
Offers legal clarity for unfavorable incidents
It takes care of the legal proceedings that might come handy during any tiff with the merchant you are transacting with. The purchase order that it generates offers legal clarity and instructions for the vendor along with a tangible paper trail that can be referred to as a point of reference when things go wrong.
Helps in purchase budget management
Using the plug-in, you can monitor your expenses and control how much you are spending on certain products. It enables you to form a budget and also lets you compare and buy by giving you the estimated profit you can make by taking volume discounts on large orders.
Ensures order accuracy
The automation of the process lets you keep an accurate record of all your purchases and also ensures that your purchase orders are exact by generating them mechanically. The risk for human errors is eliminated which saves much inconvenience which could have been possible due to inaccurate orders.
Enhances decision making
Most of all, not only does it eases your work and saves your time, it also enhances your decision making power. As it delivers accurate data regarding your purchases, you can compare your purchase and sales data and judge which products are giving you more revenues. Accurate data can deliver mission-critical information to help you make right decision avoiding mistakes.
How To Manage Purchase Orders in Dynamics CRM