How does NetSuite ERP manages inventory and supply chain management?
To achieve supply chain operational excellence, businesses that provide distribution, installation, repair and maintenance services, can rely on NetSuite to ensure that they have the right inventory in the right place at the right time whilst ensuring costs are on budget.
One robust function of NetSuite’s Inventory and supply chain management is the bills of material (BOM), it is so sophisticated that it can handle multiple historic BOMs by product and location.
NetSuite’s smart BOM functionality is not the only star attraction, with ‘Engineering change order’, companies can manage all changes affecting the supply chain. They can compare two BOMs, or revisions, and highlight differences as well as track changes automatically.
Inventory visibility across the world enables accurate time frames for future supply and demand. And with the ‘Control tower’, another innovation from NetSuite, distributors have ‘time-phased’ visibility of supply, demand and subsequent inventory and movement of material across supply chain locations.
Benefits of NetSuite inventory and supply chain management software
Balance supply and demand through:
- planning your supply chain with a combination of cost control, lead times and service level that works
- increasing your time delivery metrics with NetSuite’s advanced inventory management and demand planning techniques
- delivering expert control over your supply chain by setting up unique parameters at each inventory location.
Manage inventory automatically by:
- tracking inventory across different locations, manage multiple warehouses and consume inventory from vans in real-time
- enjoying increased accuracy of inventory levels with programmed cycle counting and categorised inventory
- automated key settings like preferred stocking levels or lead times and re-order points.
Collaborate with supply partners through:
- managing your supply chain with your device from anywhere with internet
- enjoying additional security with complete control of what users see
- using workflow processes for specific field service operations with SuiteApps like NextService.
Increased customer satisfaction through:
- enjoying lower costs because your supply chain is operating efficiently and improving reliability
- trusting you more because your service is delivered on time
- being the recipients of automatic online maintenance and appointment scheduling.
How can supply chain impact operational efficience?
A well-run supply chain lowers the cost of doing business. The most proficient supply chains deliver products as fast and as cheaply as possible without undermining quality. These highly functional supply chains have increased visibility into their processes, and are able to troubleshoot and fix problems as soon as they appear.
An effective supply chain also enables your company to be more competitive in the market place. Most importantly, it increases customer satisfaction and develops brand loyalty.
With NetSuite you can automate inventory management in a single integrated solution while tracking it across multiple locations. When you automate inventory management, you optimise your cash flow and minimise handling costs. You also have wide-ranging visibility into your inventory wherever it may be – in the warehouse or any other place you store it.
Cycle counting facilitates regular counting and updating adjustments of certain products. Ultimately, all the products are counted, ensuring that physical inventory corresponds to the digital records without the need to shut down the company to perform a complete auditing inventory count.
NetSuite software automatically calculates key tasks with an ‘Order items’ list that makes suggestions for lead times, reorder points and preferred stocking levels. There’s also a multi-location planning solution that assists in balancing the company’s demand and supply levels, ensuring that sufficient stock is always on hand to fulfil requirements.
Manufacturing asset management
Manufacturers, wholesale distributors and machine maintenance businesses can track and manage the service history of manufacturing assets, including components. They can also tailor asset records to meet the requirements of most systems or specific components of those systems, ensuring efficient and effective maintenance of equipment.
Scheduling and dispatching
With the NextService Scheduler, staff can allocate technicians to the maintenance jobs that best correspond to their skills and expertise. A copy of the technician’s mobile app is also displayed on the Scheduler, so the dispatcher can assist technicians in the field or train them remotely if needed.
Remote inventory management
With NetSuite’s remote inventory management, field service operators can track inventory that’s been assigned to individual technicians or vehicles, eliminate stock that’s unaccounted for and maintain optimal stock levels. They can also consume vehicle stock through a mobile interface and an in-built barcode scanner.
Klugo supports your business to achieve supply chain operational excellence
We can enable your company to manage and optimise your supply chain across Australia and the world. Our team can help you maintain your balance of demand and supply, monitor and control the right combination of cost control, lead times and service levels. We not only configure but coach you and support you in the best use of NetSuite’s inventory and supply chain management module. Our dedicated service team keeps you up to date with latest updates and helps you personalise your dashboards and reports increasing your operational efficiency.
Our ERP-driven inventory management and demand planning techniques promote good decision-making and on-time delivery metrics. Unique parameters can also be set up at inventory storage units to deliver unparalleled control over the supply chain. We are constantly improving how NetSuite’s supply chain, with its wide-ranging case management system, can help field operators to coordinate claims and initiate repair processes.
A positive customer experience is achieved when a business truly understands their customers needs. Visibility over the customer journey and lifecycle is the key to achieving this.
NetSuite inventory, supply chain and MRP available modules
NetSuite’s demand planning assists companies in finding the most cost-effective balance between supply and demand. Using historical or demand sales forecasts, it calculates and predicts inventory demand – which also helps to manage inventory with greater accuracy and efficiency.
The demand planning solution automatically generates purchase, transfer and work orders at the same time business operators evaluate demand trends and formulate a plan. When the demand plan is generated it can be edited to align the individual inventory needs for a specific period during the plan. For example, you may want to run a promotion during a particular month and increase the inventory level to correspond with that planned event.
Demand planning allows you to use forward-looking sales forecast data to project demand. You can also use previous demand to look at seasonal trends of inventory flow, or project future inventory needs based on linear growth.
It’s an easy one-click process to create supply plans by using the item settings from the demand plans. There’s no need to use a manual process. The system produces planned, firm or released orders depending on parameters and approval workflows.
In addition, NetSuite can generate planning messages that help users make the right decisions and, where appropriate, optimise inventory levels.
Once the demand plan is reviewed and finalised, the supply plan can be generated without any time-consuming manual processes.
NetSuite uses industry-leading practices to manage daily warehouse operations. Its Warehouse Management System efficiently guides users through tasks from receiving goods and storing them to selecting and shipping them. The NetSuite inventory record is automatically updated and reported in real time as products pass through the warehouse and each transaction is entered.
The Warehouse Management System reduces handling time, improves order fill rates, optimises space utilisation and increases productivity.
For manufacturing companies, NetSuite provides an expert solution to gather detailed information from the manufacturing process.
Material requirements planning (MRP) is a software-based inventory management system that’s part of NetSuite’s Shop Floor Control and Mobility solution. Gathering the essential information – where, when, why and how – about products that are being manufactured helps decision-makers to implement informed judgements about their business.
Some manufacturers still use predictive tools, such as planning and scheduling applications, to make estimates about their manufacturing processes. NetSuite replaces these older methods with real-time updates that enable the identification of quality issues as they occur.
The MRP and Shop Floor Software has powerful functionality that’s easy and simple to use, along with a configurable tablet application and real-time updates. Operating from a single platform, it enables the creation of standard and ad hoc bills of materials, schedules jobs and manages MRP data throughout the manufacturing process.