Effective stock control software needs to provide you with a complete and detailed audit trail.
The bottom line of stock control is knowing, with absolute certainty, what your stock levels are. The dynamic nature of operations means that your inventory figures are changing on a minute-by-minute basis. With Microsoft Dynamics NAV, stock control changes are instantly logged, providing live stock figures at any given moment.
Microsoft Dynamics NAV provides you with full audit trails as standard. The Item Ledger shows all transactions that have an impact on the stock valuation, while the Warehouse Entries show all physical transactions, including internal transfers.
Whether goods are being received, dispatched, transferred, returned, or written off, the total picture is always available, with drill-down functionality that allows ready access to the originating documents and all ledger transactions. The use of Reason Codes also allows you to further analyse your data and provides insights that are invaluable in driving efficiency and profitability.
When a journal entry is entered you can see when it happens and why it has happened. This means you can analyse the changing status of stock, and quickly detect errors or abuses in entering or removing transaction data.
Microsoft Dynamics NAV’s audit trail helps you detect problems fast
You can use Microsoft Dynamics NAV to generate an audit trail for any part of the supply chain. For example, you can examine an audit trail for transactions related to a single product, an individual operative, a specific warehouse, within certain date ranges and more.
So, if your analysis of your stock control data reveals products, departments or operatives performing to an unexpected level – whether positive or negative – you can easily see from the audit trail whether there’s another story to be told by the figures.
In addition, if you operate a bonded warehouse, the audit trail in Evo-Soft’s customisation of Microsoft Dynamics NAV allows you to track bonded entries accurately and helps you to cut administration costs.
Benefits of a robust stock control audit trail
There are many other benefits of having a detailed audit trail as part of your inventory management system. These are just a few:
- Compliance with Governmental requirements for record keeping – without all the paper!
- An audit trail allows you to trace transactions and check their accuracy and validity
- The audit trail creates item traceability, down to lot or serial number level if these are in use
- You can detect improper use or security breaches
- You can analyse data to find patterns and trends.
- With Dynamics NAV you can monitor the whole process from purchase order to delivery – something that is normally achieved via a number of systems.
Microsoft NAV’s powerful audit trail functionality is a major asset to any business needing inventory management software. If you would like to learn more, be sure to contact Evo-Soft today.
Filed under: NAV
