NetSuite can optimize resources and reduce expenses at every production process level. These features are not included in the normal version of NetSuite but are included in a supply chain management module.
The NetSuite supply chain management bundle is a priceless resource for maintaining your company’s efficiency and consistently raising profit margins, regardless of whether you manage a warehouse yourself or are making choices on its behalf!
Overview of Supply Chain Management in NetSuite
Businesses can manage their supply chain operations with ease thanks to NetSuite supply chain management bundle. Inventory management, order management, procurement, and warehouse management are just a few of the features it provides.
The module facilitates the optimization of supply chain operations for businesses by automating crucial procedures including purchasing, receiving, and fulfillment. Additionally, it offers firms real-time information on inventory levels, enabling them to optimize stock levels and lower the cost of carrying inventory.
The NetSuite supply chain management bundle is connected with other modules, including accounting and customer relationship management (CRM), offering firms a holistic solution. In addition, it provides real-time visibility into supply chain performance through configurable dashboards and reports.
Features of NetSuite Supply Chain Management Bundle
Procurement
Purchasing and vendor management are centrally managed via NetSuite procurement. It makes use of artificial intelligence and real-world data to assist your organization be as efficient as possible while saving money and time. One central dashboard contains all of your procurement data, including transactions, records, vendor performance, and departmental expenses. In the end, you’ll obtain more accurate, up-to-date knowledge about suppliers and business spending.
Inventory Management
Netsuite SCM feature allows you to track and manage inventory levels, locations, and movements. You can track stock levels across several warehouses, set reorder points, and keep an eye on inventory turnover with NetSuite inventory management functionality. The technology facilitates inventory assembly and disassembly and permits inventory tracking by lot or serial number.
Purchase Order Management
Generate, monitor, and authorize purchase orders while overseeing supplier connections. Users can make buy orders, monitor their status, and receive products against purchase orders with the NetSuite purchase order management tool. The system facilitates the administration of supplier data, encompassing contact particulars, lead times, and terms of payment. Additionally, you can create reports on the history of buy orders and track and manage any modifications made to the purchase orders with this capability.
Sales Order Management
Create, monitor, and complete sales orders in addition to maintaining client contacts. Users may create and track sales orders, manage customer information, and complete orders with NetSuite supply chain management and sales order management features. Along with tracking orders, billing, and shipping, the system also creates reports on past sales. You may even use this function to handle returns and exchanges in addition to managing and tracking delivery dates, invoicing, and payments.
Warehouse Management
Monitoring and overseeing receipt, putaway, picking, packing, and shipping are all part of the warehouse operations. Users may design shipping labels, manage warehouse operations, and keep track of inventory levels with the NetSuite supply chain management bundle warehouse management tool. Barcode scanning, RFID tracking, and system interface with external warehouse management systems are further features supported by the system. Additionally, this capability can offer real-time inventory visibility, which helps improve decision-making and optimize warehouse operations.
Demand Planning
Estimate product demand and adjust stock levels to satisfy it. With the use of the NetSuite demand planning tool, users may project product demand based on past sales data, present trends, and outside variables. To make sure that inventory levels are adequate to meet demand, the Netsuite Supply Chain Management system additionally facilitates the generation of purchase orders, production plans, and transfer orders. You can also use this function to spot any stock-outs or overstocks and make the appropriate corrections.
Quality Management
Ensure that you consistently provide high-quality products by simply using the NetSuite quality management system. You’ll always have access to real-time inspection insights, and it’s simple to set up and maintain. All you need to do is decide which tests you want your items to undergo, specify the requirements for each test, and then delegate the task to the professionals in product testing. It will be simple and quick for you to go over each test result.
Production Planning
Utilize the NetSuite supply chain management bundle to manage production resources and plan and schedule production runs. Users may manage production resources, plan and schedule production runs, and monitor production progress with NetSuite production planning tool. Additionally, the system makes it possible to track machine usage, inventory usage, and production expenses. Additionally, this functionality can shorten lead times, boost productivity, and improve the production schedule.
Transportation Management
Utilize the NetSuite supply chain management bundle module to manage carrier relationships and plan and carry out transportation operations. With the NetSuite transportation management tool, customers can monitor shipment statuses, plan and carry out logistics for transportation, and manage carrier relationships. Additionally, the system enables connectivity with other shipping providers, the computation of shipping charges, and the generation of mailing labels. You can cut down on transportation expenses and optimize delivery routes with the aid of this tool.
Costing
Monitor and control the expenses of labor, materials, and overhead related to supply chain activities. Users can monitor and control supply chain operating expenses, such as labor, materials, and overhead, with the NetSuite supply chain management costing tool. The computation of landing costs, which comprise the price of the goods, freight, duties, and other expenditures, is another function of the system. This function can assist you in making well-informed judgments by pointing out the most affordable suppliers, goods, and routes.
Reporting and Analytics
Metrics measuring supply chain performance are revealed via the reporting and analytics component of NetSuite. This feature lets you analyze and create reports on indicators related to supply chain performance, like lead times for purchase orders, inventory turnover, and transportation expenses. Additionally, the technology enables the drilling down into certain data points for additional analysis and the generation of custom reports.
WIP and Routings
Your whole manufacturing process, from resource acquisition to utilization and processing time, is enhanced by NetSuite WIP and Routings module. We don’t need to tell you how crucial it is to maximize your budget throughout the entire production process if you work in the manufacturing sector.
Advanced Manufacturing
Use the NetSuite Advanced Manufacturing module to increase revenue and decrease expenses. Many manufacturers are utilizing disconnected systems, which might harm their company. Instead, use a single integrated cloud solution to replace a disorganized jumble of programs.
Why NetSuite Supply Chain Management Bundle?
NetSuite supply chain management bundle helps businesses manage the flow of goods, production, and manufacturing. By providing a centralized platform it helps businesses operate in complex environments and provides better visibility, efficiency, cost optimization, and effective scaling.
The End
Folio3 can assist whether you want to integrate NetSuite for the first time or have an established configuration already!
Reach out to us for a free consultation! We can explain in detail how NetSuite can enhance your production workflow and financial results.
