Dynamics F/SCM
Dynamics F/SCM
Organizer:
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Microsoft Dynamics 365 F&O contribution to effective procurement management
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Microsoft Dynamics 365 F&O contribution to effective procurement management
Hello everyone,
For a professional thesis purpose, I am conducting interviews on the following topic: How Microsoft Dynamics 365 Finance & Operations features contribute to effective procurement management?
To this end, I am looking for key users or functional consultants who would be willing to answer the following questions:
Q1: In your opinion, what defines effective procurement management?
Q2: Which features do you consider essential in an ERP system for managing procurement?
Q3: Which Microsoft Dynamics 365 functionalities do you use most in your procurement process, and why?
Q4: In your view, what improvements should be considered in this ERP regarding procurement management?Thank you for your interest in my message.
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2 Replies
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Q1: Effective procurement management is acquiring the right goods and services at the right time, price, and quality, while maximizing value for the organization. It’s not just about cost savings; it also includes maintaining positive supplier relationships, ensuring compliance, supporting organizational goals.
Q2: Essential ERP features for procurement include:
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Vendor management (tracking supplier information and performance)
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Purchase requisition and approval workflows
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Request for quotation (RFQ) management
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Automated purchase orders and contract management
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3-way matching (PO, receipt, and invoice) for controlling spend and preventing fraud
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Supplier collaboration portals for communication and document sharing
Q3: Frequently used Dynamics 365 Finance & Operations procurement features include:
Vendor management: For onboarding, evaluating, and maintaining suppliers.
Purchase requisitions: To initiate purchases and enforce internal controls.
RFQ (Request for Quotation): To solicit and compare supplier bids for best value.
Purchase orders: To formalize transactions and track procurements to completion.
Product receipt and invoice matching: For accurate goods receipt and financial control.
Vendor collaboration portal: To streamline communications and improve supplier engagement.
Embedded analytics: For tracking spend, supplier performance, and purchase trends.
Q4: While Dynamics 365 F&O covers most procurement needs, some improvements I would like to suggest are:
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Automating exception handling
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Enhanced customization of workflow approvals and notifications.
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More robust integration with third-party procurement and sourcing platforms.
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Improved user experience for supplier self-service and mobile access
Hope this is helpful!
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