Dynamics 365 Supply Chain Management 2024 Release Wave 2: What It Means for Your Business

As businesses work to make their supply chains more efficient and resilient, Microsoft Dynamics 365 Supply Chain Management keeps improving to meet these needs.

The 2024 Release Wave 2 introduces upgrades and new features that help streamline supply chain operations, provide better visibility, and make businesses more adaptable.

In this blog post, we’ll explore the critical updates and how they can help your organization stay competitive in an increasingly complex global market.

And yes, you might find the usual suspects, like AI, Insights, and Copilot, as you go…

Enhancing Supply Chain Resilience with Advanced Planning and Optimization

In today's fast-changing world, having a resilient supply chain is crucial. The 2024 Release Wave 2 offers new tools to enhance planning and optimize the entire supply chain.

• Advanced Demand Forecasting: The new release offers enhanced demand forecasting capabilities powered by AI. These tools analyze historical data and market trends to provide more accurate forecasts, enabling better inventory planning and reducing the risk of stockouts or overstock situations.
• Real-Time Inventory Visibility: Improved inventory management features provide real-time visibility into stock levels across multiple locations. This allows for more agile decision-making and helps prevent disruptions in the supply chain.
• Optimized Production Scheduling: The latest updates include advanced production scheduling tools that optimize resource use, reduce downtime, and increase overall efficiency. This ensures that production processes are aligned with demand, minimizing waste and maximizing output.

In my opinion, there is some pretty exciting news here, however, I'm somewhat on the fence when it comes to the Copilot prompts.

Streamlining Warehouse and Transportation Management

Efficient warehouse and transportation management are crucial to the success of any supply chain. The 2024 Release Wave 2 introduces several enhancements designed to streamline these operations.

• Enhanced Warehouse Automation: The new release continues to build on automation within warehouse operations, introducing improved robotic process automation (RPA) capabilities. These tools help reduce manual intervention, speed up order fulfillment, and improve accuracy.
• Dynamic Routing for Transportation: Transportation management gets a boost with dynamic routing features that optimize delivery routes based on real-time traffic data and delivery priorities. This helps reduce transportation costs and improve delivery times.
• Integrated Order Management: The enhanced order management system seamlessly integrates sales, warehouse, and transportation teams. This ensures that orders are processed faster, with fewer errors, and complete visibility from order placement to delivery.

I am all in here – automation, efficiency, and complete visibility! What's not to like?

Boosting Agility with Improved Supplier Collaboration

Collaboration with suppliers is a vital component of an agile supply chain. The 2024 Release Wave 2 offers new tools to enhance supplier relationships and collaboration.

• Supplier Relationship Management: New features in supplier management allow for better communication and collaboration with suppliers. This includes real-time updates on order status, improved contract management, and enhanced supplier performance analytics.
• Collaborative Planning: The release introduces collaborative planning tools that allow organizations to work more closely with suppliers on demand forecasts, production schedules, and inventory management. This collaboration helps reduce lead times and improve supply reliability.

So much in SCM depends on suppliers. Some promising tools here: reactive as well as proactive.

Leveraging Data for Strategic Decision-Making

Data-driven decision-making is essential in modern supply chain management. The 2024 Release Wave 2 introduces improvements to the data analytics features in Dynamics 365 Supply Chain Management.

• AI-Driven Insights: With advanced AI-driven insights, organizations can now analyze vast amounts of supply chain data to identify trends, predict disruptions, and optimize operations. This capability is essential for staying ahead in a competitive market.
• Enhanced Reporting and Dashboards: The release includes more customizable reporting tools and dashboards that comprehensively view supply chain performance. These tools make it easier for decision-makers to access the information they need when they need it.
• Integrated Analytics Across Modules: The new release ensures tighter analytics integration across all Dynamics 365 modules, providing a holistic view of operations and enabling more informed strategic decisions.

If you're looking to master supply chain management functionality in Dynamics 365, our MB-330 on-demand course provides comprehensive training on the core capabilities, helping you leverage data for smarter, more strategic decisions – there's a free trial so you can try before you buy.

Catch Up With Our Webinar: Dynamics 365 Supply Chain Management Release Wave 2 Update – What You Need To Know!

The 2024 Release Wave 2 for Dynamics 365 Supply Chain Management is packed with powerful new tools and enhancements designed to help your organization navigate the complexities of modern supply chains. From AI-driven demand forecasting to advanced supplier collaboration, these updates are set to transform the way you manage your supply chain.

You can find out more about these exciting features by watching the replay of our recent webinar.