TechTalk: What's new in Supply Chain Management in 2023 release wave 2

2024-05-28

The landscape of supply chain management (SCM) is constantly evolving, driven by technological advancements and changing market demands. The Dynamics 365 Supply Chain Management Wave 2, 2023 Edition, brings a suite of updates and features that promise to significantly enhance the efficiency and capabilities of supply chain management systems. This article provides an in-depth look at these developments and their implications for businesses.

We based this article on a TechTalk that you can find online in the Dynamics 365 channel on YouTube.

Dynamics 365 Supply Chain Management release cadence

Recent updates to Dynamics 365 Supply Chain Management introduce a new release cadence, where updates are split into two major waves each year. This structured approach helps businesses better plan for and adapt to new features. Therefore, it ensures a smoother transition and smoother integration into existing systems.

Key updates in inventory and logistics

The following updates in inventory and logistics are included in 2023 release wave 2.

Enhanced inventory visibility through a Power BI dashboard

The integration of a Power BI dashboard for inventory visibility marks a significant step forward in inventory management. This tool gives users near-real-time insights into inventory levels, supply and demand trends, and product popularity. It's a strategic asset for businesses that focus on optimizing inventory and reducing associated risks.

Global inventory accounting in discrete manufacturing

Discrete manufacturing companies can now benefit from enhancements in global inventory accounting. This feature allows for parallel inventory accounting in multiple currencies by using standard costs. Therefore, it's aligned with the needs of global businesses for consistent and efficient accounting practices.

Dynamics 365 Commerce integration for real-time inventory management

The integration between Dynamics 365 Commerce and Dynamics 365 Supply Chain Management for real-time inventory management addresses the challenge of asynchronous inventory updates between systems. This integration is particularly beneficial for retailers, because it ensures accurate inventory data across all channels and therefore enhances customer satisfaction.

Mobile app for inventory management

The introduction of a mobile application for inventory management in Dynamics 365 Supply Chain Management represents a significant shift toward mobile-first approaches. This app provides on-the-go access to real-time inventory data. Therefore, it streamlines inventory management processes and enhances the productivity of store and field workers.

Innovations in pricing and order management

The update includes advanced features for handling complex surcharges in sales quotations and orders. These features cater to industries that have intricate pricing structures. Enhanced order processing and pricing management capabilities, including improved calculation performance and simplified implementation, reflect a commitment to offering versatile and efficient supply chain management solutions.

Manufacturing and asset management enhancements

New features in manufacturing and asset management include the ability to overpick materials for production orders and conduct material availability checks for maintenance work orders. These updates introduce greater flexibility and efficiency in production and maintenance operations. Therefore, they streamline workflows and reduce downtime.

Strategic enhancements in planning and procurement

The release introduces the Demand Planning app for Dynamics 365 Supply Chain Management, which is equipped with sophisticated forecasting algorithms and analytics. This tool is designed to enhance demand planning accuracy and efficiency. Additionally, a new feature informs vendors about optimal shipping times and therefore improves the precision and reliability of the procurement process.

Compliance management in international trade

The latest updates in Dynamics 365 Supply Chain Management include features for managing and ensuring compliance with export control restrictions. This advanced control solution integrates seamlessly with Supply Chain Management and enforces compliance with international trade regulations in real time.

Conclusion

The Dynamics 365 Supply Chain Management Wave 2, 2023 Edition, represents a significant leap forward in supply chain management technology. It introduces features and enhancements that cater to the diverse needs of modern businesses. These updates underscore the commitment to continuous innovation in the field of supply chain management by offering tools and capabilities that are essential for maintaining a competitive edge in today's dynamic market.

For businesses that are seeking to take advantage of these new capabilities, the Dynamics 365 Supply Chain Management official documentation and the Dynamics 365 Community forums are excellent resources for more detailed information about the updates. These resources offer comprehensive insights, guides, and discussions to help users maximize the benefits of the latest supply chain management trends and technologies.

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