What is a consignment stock and how to use it in Microsoft Dynamics NAV. Read now on our blog…
What is a consignment stock? It is an entity that provides various services (among them storage and warehousing) to other entities. It can also be responsible for delivering the goods to other entities’ end customers.
How does it relate to Microsoft Dynamics NAV? When the number of orders or stock volume is not significant, we can use NAV standard functionality to handle it through Sales, Purchase and Warehouse module. On the other hand, when there are a lot of goods in the warehouse or we have dozens or hundreds of sales orders daily, we might face problems with fast and reliable document entry. It refers to the following documents:
- Shipment Document
- Goods receipt
- Warehouse Movement
- Stock adjustment
Total number of such documents can reach tens or even hundreds per day. Then we can of course hire extra people to input data in an ERP system, but what when we cannot afford this solution?
In such case we recommend implementing Microsoft Dynamics NAV module for consignment stock management. This module enables you to send Sales Orders messages (Despatch Advice) and Purchase Orders messages straight to the warehouse and generate shipments goods receipts, warehouse movements and stock adjustments messages back from warehouse.
The formats that are being supported by our module are: EDIFACT, .xml and .txt. In case the EDIFACT is being used, the messages that can be exchanged include: ORDERS (Purchase Order – information to the warehouse about planned goods reception), RECADV (confirmation from the warehouse about received goods), INSDES (Sales Order, also called Despatch Advice – information to the warehouse about shipment destination), INVADJ (information from the warehouse concerning physical inventory adjustments), INVRPT (information about available inventory).
This module is already integrated with such suppliers as DHL, DSV and Raben. Please contact us to learn more about how to use Microsoft Dynamics NAV to integrate consignment stock data.