Is your factory floor resembling a wild game show and got you pulling your hair out? Well, stop thinking about “I shouldn’t have bought this factory”, because there is a way to ensure smooth sailing in your manufacturing process. NetSuite solutions for manufacturing are the secret weapon for transforming your operations from chaos to orderly flow. With NetSuite solutions for manufacturing, your workers will be happy, processes will be streamlined, and you’ll still have time to conquer a neglected Rubik’s cube.
As stated by Forbes, in 2023, the manufacturing industry shifted its focus on AI, IoT, and 5G technology along with 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 actually 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 aspects of their operations through a single, cloud-based system. NetSuite equips manufacturers with the tools they need to operate a contemporary business. NetSuite solutions for manufacturing have all the necessary aspects like CRM, inventory management, HCMS, supply chain management, quality control, planning and scheduling, and much more for manufacturing companies.
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 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 helps 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 your operations at any time, whether they are pending shipment or have already been delivered.
Planning & Scheduling
NetSuite solutions for manufacturing offers 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 both simple to use and adaptable, accommodating the company’s restricted and unlimited scheduling capabilities.
Supply Chain Process
The supply chain Module is intended to assist manufacturers optimize their supply chain by allowing them to manage the complete manufacturing process across various 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 a number of native features to assist in ensuring 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, hence 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 the development of 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 allows businesses to handle quotes in real time, 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, exclude other products from discounts, and automatically propose 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
As cloud-based ERP platforms become more popular, a growing number of manufacturing companies are incorporating NetSuite solutions into their operations. NetSuite solutions for manufacturing provides 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 they need it.
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 having to export 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 that are tailored to their specific corporate structure and operations at any time or location around the world.
The NetSuite Manufacturing Modules
NetSuite ERP system can be customized to work with a range of manufacturing processes, including:
Assemblies & Work Orders
Assembly and Work Order are two of 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 an order is being shipped from and where it is being delivered. Routing allows you to see all of your products’ work-in-progress (WIP) information.
Demand Forecasting
Demand forecasting is the process of identifying and quantifying 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
The Engineer-to-Order (ETO) module in NetSuite 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 either 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 offers the option to tailor reports 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 ultimately increase sales. Here are several significant benefits of NetSuite solutions for manufacturing:
- You can use NetSuite to customize dashboards for industry-specific functionality.
- It is a unified business management solution so you don’t have to deal with multiple software applications.
- You can monitor real-time data insights to forecast, plan, overcome challenges, and overcome delays.
- You get more visibility and better communication over your supply chain, suppliers, distributors, and consumers.
- You can keep track of operation insights anytime and anywhere.
In Summary
NetSuite solutions for manufacturing industry give businesses the tools they need to optimize operations and achieve their objectives. NetSuite solutions provide a full picture of the manufacturing process by including real-time inventory management, supply chain management, BOM management, and work order management.
If you want a successful NetSuite system implementation for your business, consider bringing us onboard to support your in-house team. Be confident because we have the expertise and experience for NetSuite integration with a plethora of clients.
You can get in touch with us and check out our resources at Folio3.
