What is Functional Location in Asset management Dynamics 365 F&O?

What is Functional Location in Asset management Dynamics 365 Finance and Operation

Functional location: Functional locations are used to manage assets where actual assets are installed or set up. This includes tracking of assets on different locations. Basically, functional locations are structured hierarchically, and can have sub locations. In location setup we can create parent-child relations as well. E.g. Site>Warehouse>Plant>Machine – all four components are Functional locations in parent-child relation.

The below image shows  functional locations and the assets installed within them.

Functional location

Functional location models and states define the lifecycle of a functional location.

In functional location states we create the stages of the location, I.e. lifecycle of the asset (e.g. New, Active, maintenance, suspends and end)

In functional location model we define the process flow of asset life cycle

e.g. New>Active>Maintenance>Suspend/End

In functional location we get the following information:

  • General Information: We get an overview of parent and child information in the functional location structure under this tab. You can see the number of asset attributes, maintenance plans, and assets related to the functional location in the Details section. In the Inventory section, you can select the site and warehouse to which the functional location is related. In the Lifecycle state section, information about the functional location lifecycle state is displayed.             
  • Installed assets: Under this tab, we get the information of assets installed on this location.
  • Asset attribute requirements: We can add specific attribute requirements for the assets that you install on the functional location on this Tab. These requirements are for information purposes only.
  • Maintenance plan/Round: We can add maintenance plans and maintenance rounds to the functional location in this tab, including a start date. The assets installed on a functional location may have other maintenance plans set up. All maintenance plans and maintenance rounds can be used for scheduling asset calendar entries for a functional location and its currently installed assets.
  • Address: In the address tab, we can define the location’s address, and for sub-location in no address is mention in this tab, then it will automatically be of parent location.
  • Workers: In this tab, we can select worker who is associated with this location
  • Attributes: In this section, we can set values for functional location attributes. These attributes can describe properties or characteristics pertinent to the functional location, such as structural properties, building type, area descriptions, etc.
  • Financial dimension: We can select financial dimension for different dimensions, e.g., cost center, Sites, etc.

We hope you have thoroughly understood Functional Location in Asset Management and its uses. In case of any queries, do get in touch with an DEV IT expert here.

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I am a Functional Consultant (Chartered Accountant) at Dev Information Technology Ltd. Having 3 years of the experience in Microsoft Dynamics AX/Dynamics 365 (ERP) and have worked on projects in private sector.

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