Can Manufacturers Manage Rental Processes Within Dynamics 365?

Manufacturing industries are increasingly changing their business models with the concept of the serviceMore and more customers prefer renting equipment to buying it to avoid the hassles of maintenance, depreciation and storage.

It might be a company that produces heavy equipment, machinery, medical devices, gadgets, or electronics – but to meet customer demand, you now want to rent your products instead of relying on a one-time sale.

While the idea of ​​multiple revenue streams is great, the transition can be complex – your production being handled in one ERP solution and the leasing aspect of your business in another, causing you to constantly switch between the two to understand how you run your business.

Wouldn’t it be more efficient if you could manage all of your operations within your manufacturing business with one software?

In this article, you’ll discover how you can adopt software that can support aspects of your business’s production, sale, and rental business all in one place, while making overall operations smoother through process automation.

Why do manufacturers need a single process management system?

An essential part of manufacturers leasing or searching for a lease across multiple revenue streams through Product as a Service The model is to have a firm link between the production side and the rental side of your business.

This is important because it covers the initial and final stages of a manufacturer’s operations, and both processes are interrelated. For example, based on rental trends, you can produce more assets, and you cannot lease an asset if it is not available due to lower production.

How do I support end-to-end manufacturing in Dynamics 365?

An evolving manufacturing model calls for software that can handle the complexities of the manufacturing and leasing side of a company, which begs the question – is there a common solution for both manufacturing and leasing operations? Yes there is!

With our deep experience in the rental industry since 2005, we at To-Upgrade empower businesses by providing a solution that can support their so-called manufacturing and rental operations. DynaRent.

DynaRent is a program Software included with Microsoft Dynamics 365 Finance and supply chain management. It leverages all the capabilities of the standard Dynamics 365 solution, including vending, with additional functionality to support lease operations.

How can DynaRent support the manufacturing and leasing value chain?

The manufacturing value chain can generate revenue either through direct selling or lease using the product as a service.

While a typical manufacturing company can only have a “sale-based” business model, more manufacturers are now exploring the combined option of selling and renting. However, moving from a single business model to a dynamic business model can be challenging, especially if you do not have the right software to support your business operations.

With DynaRent, manufacturing companies can either sell or lease their assets or combine both to generate revenue.

We know DynaRent can support selling, because it’s built into the Standard Dynamics 365 solution, so how does the added functionality support the rental side of the business? lets take alook.

How does DynaRent support the rental process flow?

A typical flow of the rental process showing the different stages that equipment goes through.

1. Equipment management: You can create business objects based on customer orders and carry them out asset maintenanceincluding corrective and preventive maintenance. The plan board inside the solution contains a file Intuitive user interface Allows related users to comprehensively view a graphical summary of each device and work order. This helps in managing the production line and rental orders efficiently.

2. Lease order: Includes agreements and availability checks. After receiving a request from a specific customer to rent some type of thing, you will check availability by looking at the DynaRent plan panel which provides an overview of all available assets. You also get insights into rental objects being produced, with details of date and time and pending work orders, all color-coded.

Here you can see the availability of each rental object, color-coded depending on the condition Layout panel screen within DynaRent's To-Scale solution.

In some cases, the requested rental object will not be available due to it being already on lease or possibly under maintenance. In such circumstances, you can assign another item, search in your other warehouses, sub-rent a product, or produce it, if applicable.

Here you can learn how to check item availability, search other repositories or create a rental sub request if it is not availableThe DynaRent screen shows how to assign items, create rental sub-orders, or check-in to other warehouses.

3. Advance rent: It includes delivery, receipt and checks. You can prepare assets for leasing, such as inspection or checks to ensure quality, packaging and processing for delivery.

4. Rental: Includes bills, history changes, and incidents. You can bill customers based on the lease type, implement a “rent stop” in case of any incidents related to the rental asset and manage any changes to the customer’s rental schedule.

5. After renting: Here, the object is returned to the repository. Includes returns, invoices, and credits. The payout date can be seen inside the plan panel. You can also make a checklist to check the leased object for any damage and bill the customer accordingly. After all necessary checks are completed, the rental cycle ends and is managed in the warehouse until the customer’s next order.

6. Reporting: Includes dashboards and information analysis. DynaRent’s Business Intelligence (BI) add-on can provide analytics and trends based on specific KPIs measured on usage so you can improve them even further. Dashboards are available and consist of role-based information on a single screen. You can see an overview of your contracts, usage, and finances, among others, and get insights into well-performing assets for future investments.

Here you can see an overview of the analytics capabilities of DynaRentReporting and analytics capabilities for the DynaRent solution by To-Scale.

How can DynaRent support the link between production planning and leasing?

Production information is an integral part of any manufacturing business, as it is the first step in deciding which assets to sell or lease. DynaRent supports both processes through a link to the production module within the software. This allows manufacturers to plan on the spot if a new production is needed and to build it.

Here you can learn how to create a production order for a new objectScreenshot of DynaRent's To-increase solution shows production order.

Once the production order is created, it will be reflected within the rental solution as a “pending” object, so you know which items are in productionScreenshot of DynaRent's To-Scale solution shows pending production.

The main benefits that manufacturers can benefit from implementing DynaRent

  • Plan your production at the manufacturing level

  • Get insights into current and future equipment availability with asset tracking

  • Better customer service through coordinated production planning and rental orders

  • Manage various revenue streams and billing – standard lease, consumption-based, subscription-based or direct selling model

  • Optimize your rental portfolio and production with usage trends through analytics

  • Take advantage of innovative technology with Mobility To facilitate communication and access to information for remote workers
  • Find out the lead time of the purchased product inside the layout board

  • Take advantage of a single source of truth that displays an overview of all assets

Is DynaRent the Right Solution for Your Manufacturing Business?

As an integral part of a standard Dynamics 365 Finance and Supply Chain solution, DynaRent can support the financial, supply chain, manufacturing, purchasing, sales and leasing aspects of your manufacturing business.

If you are interested in Dynamics 365 as an Enterprise Resource Planning (ERP) platform and are looking for a solution that will integrate all your data and operations management into a central location, then DynaRent might be the right choice for you.

You can explore more about the features and specifications of our solutions by looking at our fact sheet. This fact sheet will provide you with useful information such as:

  • Various industries the solution can support
  • Benefits gained from implementing a manufacturing and leasing management solution
  • Specific solution features that can meet your business needs

Once you discover our solution offerings, you can decide if it’s a good fit to support your manufacturing company.

Want to explore more about your DynaRent solution? Read the factsheet now.

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