How to use artificial intelligence in Microsoft Dynamics 365 Business Central to forecast inventory and sales?

We already know that artificial intelligence is a reality in Microsoft.

But using it in the right way to optimize and lower costs in a company’s inventory and sales processes is something we need to mention!

When we talk about AI, we are talking directly about Microsoft’s Azure and Dynamics 365 Business Central.

And by migrating and deploying Dynamics 365 Business Central in your business, besides automating all processes and steps, and thus providing a balanced management of your company, helping employees, delivering service and/or quality product to your customers through assertive sales, it will ensure better agility in your decision-making and decrease costs.

For example, the Sales and Stock Forecasting extension in Dynamics 365 Business Central.

Learning how to use sales and inventory forecasting is important for user and business decision makers.

Forecasting possible sales using historical data provides a clear overview of the stock that will be consumed.

Inventory management is a trade-off between customer service and managing your cost. 

From one point of view, low inventory requires less working capital. Conversely, low inventory can lead to lost sales.

The Sales and Stock Forecasting extension estimates potential sales using historical data and provides a clear overview of expected stockouts.

Based on the forecast, the extension helps you create replenishment requests for your suppliers and ultimately saves you time and unnecessary product purchases. In other words, it lowers costs.

In Business Central, the connection to Microsoft Azure artificial intelligence is already set up for you. However, you can configure the forecast to use a different type of period for which to report, such as changing from forecast by month to forecast by quarter.

The Sales and Inventory Forecasting extension uses Azure AI to forecast future sales based on your sales history to help prevent inventory shortages.

Want to learn more about this extension and functionality that Dynamics 365 Business Central offers?

Talk to Fênix, Microsoft solution specialist and Gold Partner.

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