I will be adding more data in sheet 1, so the cell won't always be
D362.
It may be D374 as I keep adding data to this sheet, but the Cell D31
in the other worksheet should always be the same. Is there a way to
handle this?

It sounds like you want the last non-empty value in a column.

The last non-empty value in a column can be computed like this:
=LOOKUP(2,1/(Sheet1!D1:D10000<""),Sheet1!D1:D10000)