NetSuite helps manufacturing businesses run better by organizing processes and reducing confusion on the factory floor.
With NetSuite solutions for manufacturing, tasks become easier to manage, teams stay on track, and production moves faster.
It helps improve planning, inventory, and overall efficiency so your business can grow with less stress.
As stated by Forbes, in 2023, the manufacturing industry shifted its focus to AI, IoT, 5G technology, and hybrid work models.
This has presented NetSuite as a knight in shining armor where all business functionalities can be managed under one umbrella.
Let’s find out how NetSuite can help manufacturing businesses save money and time and contribute to their growth.
NetSuite Solutions for Manufacturing
NetSuite’s ERP enables growing businesses to handle, coordinate, and manage all operations through a single, cloud-based system.
NetSuite equips manufacturers with the tools they need to operate a contemporary business.
NetSuite solutions for manufacturing companies have all the necessary aspects, such as CRM, inventory management, HCMS, supply chain management, quality control, planning and scheduling, and much more.
NetSuite helps businesses manage their operations with SaaS suite integration over the internet.
The business has complete visibility and control over the key processes to maneuver the system according to the market trends.
You’ll find big manufacturing names like Jawbone, RedBuilt, and Lytro running their businesses on the cloud with NetSuite solutions for manufacturing.
NetSuite Manufacturing Product Features
NetSuite has become an industry leader in ERP software for manufacturing industries because it gives access to all the features within a single cloud-based solution.
Here are some manufacturing product features of NetSuite:
Order Management
NetSuite solutions for manufacturing help businesses manage their assets and operations more efficiently.
It helps monitor orders from a single screen and examine KPIs that illustrate the status of each order.
Businesses can consolidate customer sales orders into a single area to see an overview of their operations at any time, whether they are pending shipment or have already been delivered.
Planning & Scheduling
NetSuite solutions for manufacturing offer the management, planning, and scheduling support needed to run businesses more efficiently and effectively.
Scheduling is one of the most complicated production procedures.
NetSuite provides a real-time scheduling engine that is simple and adaptable, accommodating the company’s restricted and unlimited scheduling capabilities.
Supply Chain Process
The Supply Chain Module is designed to help manufacturers optimize their supply chain by enabling them to manage the entire manufacturing process across multiple sites, including purchasing, production planning, supply chain management, material procurement, and inventory control.
NetSuite manages production orders, work orders, and shipments.
Procurement
NetSuite controls suppliers and purchasing methods to ensure that the products required are available at the best possible price.
It includes several native features to ensure that the business has proper materials accessible at the right time and place, such as requests for bids, blanket purchase orders, and buying contracts.
Client interactions can be managed with suppliers and purchasing divisions from one central area.
Third-party apps like SAP and QuickBooks can be integrated to improve purchase efficiency.
Quality Assurance
NetSuite analyzes the entire manufacturing process, eliminates underperforming items, and establishes criteria for optimal product quality, improving quality management.
It provides resources for ensuring the delivery of high-quality items and allows users to create and conduct inspections.
Furthermore, it aids in developing pass/fail criteria for items or materials; NetSuite also allows for the attachment of papers or photographs captured on mobile devices to records.
CRM & Marketing
NetSuite offers strong corporate sales, marketing, customer service, and relationship management (CRM) solutions for manufacturers, streamlining and automating business processes to save costs, improve productivity, and increase profitability.
It lets businesses handle real-time quotes, including pricing, tax, and discount criteria. It also allows for email campaigns that convert leads into customers.
ERP for manufacturers converts quotes into authorized sales orders, which are subsequently sent to finance for invoicing and revenue recognition.
Support & Service
NetSuite’s support and services improve warranty management by utilizing a lookup code to automate the return and repair processes.
It automates case management by allowing products to be returned to multiple locations, assigning support tickets to specific customer email addresses, and providing options for escalation concerns depending on user-defined characteristics.
E-commerce
NetSuite ERP facilitates the creation of B2B and B2C portals, which improve order processing and customer satisfaction.
It helps create discounts or coupons for specific products, excludes other products from discounts, and automatically proposes upselling.
NetSuite Ecommerce offers SEO research, website analytics and reporting, online marketing analytics, and other services. It also allows real-time payments using various credit cards and other currencies.
Importance of NetSuite for Manufacturing
Many manufacturing companies are incorporating NetSuite solutions as cloud-based ERP platforms become more popular.
NetSuite solutions for manufacturing provide a comprehensive and unified perspective of your manufacturing business.
Whether you have a single location or multiple offices, warehouses, and factories, NetSuite guarantees that everyone has access to the data they require, when needed.
The platform’s natively integrated modules eliminate the need for unstable third-party interfaces, allowing customers to perform order-to-cash and procure-to-pay procedures from a single application without exporting data.
NetSuite’s cloud-based architecture ensures that data is always accessible in real time, even when users work remotely. NetSuite is a multi-tenant, vendor-managed cloud solution with ample potential for expansion.
NetSuite’s strong reporting features enable manufacturers to get solutions fast and easily by utilizing the built-in analytics tools.
NetSuite provides a flexible cloud platform that can be tailored to the specific needs of any manufacturing organization.
Manufacturers can use SuiteCloud apps and tools to construct workflows tailored to their specific corporate structure and operations anywhere around the world.
The NetSuite Manufacturing Modules
The NetSuite ERP system can be customized to work with a range of manufacturing processes, including:
Assemblies & Work Orders
Assembly and Work Order are NetSuite’s most prevalent manufacturing module types. Assemblies combine several components to form a single item, such as a car body or a laptop computer.
Work orders allow you to track the progress of an assembly until it is completed. Assemblies can also be used to make kits with several components.
For example, you could design a kit with metal and plastic components that can be assembled into a finished product.
Routing & Work in Progress
The routing module enables you to route orders from one customer to another.
It is important when you have several product suppliers or submit an order to a provider in another nation, since it shows you where the order is being shipped from and where it is being delivered.
Routing lets you see all your products’ work-in-progress (WIP) information.
Demand Forecasting
Demand forecasting identifies and quantifies future market demand for a product, service, or program.
The method takes into account the current situation of the market as well as trends that may affect future demand levels.
It is a procedure that allows you to anticipate how much you should sell in a particular time frame, plan your sales efforts, collaborate with vendors, and guarantee you have enough inventory to fulfill consumer demand.
Engineer-to-Order
NetSuite’s Engineer-to-Order (ETO) module allows you to order parts directly from your suppliers.
Ordering parts from your suppliers is an excellent approach to get the best price quote.
You can request a part, share its picture, and specify quantity and other characteristics so NetSuite can generate an invoice for your supplier.
NetSuite Electronic Payment Solution
NetSuite’s electronic payment solution offers a complete end-to-end solution for processing, capturing, and managing all electronic payments.
This solution interacts with your existing payment processing system to provide a smooth customer experience.
It is a multi-channel solution for collecting payments via any web browser or mobile device.
The consumers can pay with a credit card, direct debit, or e-check via your website or mobile phone.
Financial Management
A financial module offers a variety of analytical and reporting capabilities, ranging from basic statement analysis to advanced budgeting and forecasting.
Financial management allows reports to be tailored to specific users, such as managers, team members, and executives. Manufacturers may control their funds from anywhere in the world.
These tools assist businesses in tracking inventory, managing cash flow, and providing notifications when expenses exceed budgeted amounts, allowing managers to better track sales, costs, and profits for each product line within the organization.
Benefits of NetSuite Solutions for Manufacturing
NetSuite marketing tools can help firms streamline campaigns, target the correct audience, and increase sales. Here are several significant benefits of NetSuite solutions for manufacturing
In Summary
NetSuite solutions for the manufacturing industry give businesses the tools to optimize operations and achieve their objectives.
NetSuite solutions provide a full picture of the manufacturing process by including real-time inventory, supply chain, BOM, and work order management.
If you want a successful NetSuite system implementation for your business, consider bringing us on board to support your in-house team.
Be confident because we have the expertise and experience for NetSuite integration with many clients.
You can contact us and check out our resources at Folio3.
