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In Microsoft Dynamics 365 Business Central, there are different inventory management options available, each offering different features and capabilities. Here’s an overview of the key differences between Basic, Simple, Advanced Inventory, and Warehouse Management System (WMS) in Business Central:
- Basic Inventory: Basic Inventory is the most basic inventory management option in Business Central. It provides essential features for managing inventory items, such as defining item codes, descriptions, units of measure, and basic stockkeeping. It allows you to track quantities on hand, perform simple inventory adjustments, and create sales and purchase documents. However, it lacks more advanced features like bin management, item tracking, and lot/serial number tracking.
- Simple Inventory: Simple Inventory is a step up from Basic Inventory and includes additional features for managing more complex inventory scenarios. With Simple Inventory, you gain access to capabilities such as item tracking, lot/serial number tracking, and assembly management. This enables you to track individual items using unique serial or lot numbers and manage item assemblies or kits.
- Advanced Inventory: Advanced Inventory extends the capabilities of Simple Inventory and provides more comprehensive inventory management features. It includes features such as bin management, where you can track items by specific bin locations within your warehouse or storage area. It also offers advanced inventory costing methods like standard costing, FIFO, and specific costing. Additionally, it supports item cross-references, nonstock items, and item substitutions.
- Warehouse Management System (WMS): WMS is the most advanced inventory management option in Business Central. It offers a full suite of features for efficient warehouse operations and inventory control. WMS provides functionalities like advanced warehouse configuration, bin set-up and optimization, directed put-away and picking, wave planning, advanced inventory replenishment, automated data capture through barcode scanning, cycle counting, and more. It is designed to streamline warehouse operations and enhance inventory accuracy and efficiency.
Deciding which Inventory Management Solution can work best for your requirements can be challenging. ACE Micro, specializes in the distribution industry and is by your side assisting you with best practices through every step of the implementation process.
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