If you can’t get your products into the hands of your customers quickly, it’s going to negatively impact your business. Managing your inventory effectively helps you meet ongoing customer demand and improve the reputation of your business.
Inventory management is challenging even for the most efficient business. Issues like changing demand, inaccurate data, inconsistent tracking, and supply chain complexity continue to plague companies that sell and ship products to customers.
What is NetSuite Inventory Management?
NetSuite’s ERP (Enterprise Resource Planning) software is an ideal solution for inventory management challenges. The world’s largest cloud-based ERP, NetSuite is a unified solution that helps organizations manage nearly every aspect of their business, including their inventory.
NetSuite’s inventory management offers your business a single, real-time view of its inventory across all sales channels and locations.
Benefits of NetSuite for Managing Inventory
Here are two ways NetSuite helps with inventory management.
Automatic Inventory Tracking
Tracking your inventory by hand on paper or spreadsheets is inefficient and prone to error. With NetSuite, inventory tracking is automated across all channels and locations. This improves accuracy, reduces handling costs, optimizes cash flow, and improves the customer experience.
Improved Inventory Visibility
Efficient inventory management can be challenging if you aren’t sure what you have in stock or know what products are on the way in or out the door. You can achieve improved inventory visibility using NetSuite in several ways:
- Real-time visibility — Because NetSuite is run in the cloud, you get real-time visibility into every area of your business, including inventory.
- Manage or stock inventory allows buy anywhere/fulfill anywhere — With an advanced inventory management tool, you can offer consumers choices, such as buy online, pick up in-store (BOPIS).
- Track cycle counts — NetSuite’s Inventory Count feature gives you the information you need to accurately maintain stock and lower overhead costs.
- See inventory in multiple locations — NetSuite removes the complexity from multi-location inventory management.
- Plan for distribution requirements — If your distribution centers have different requirements due to location, customers, business partners, or regulations, you can build this into the system.
- Plan for safety stock — You may wish to build safety stock of high-volume items to account for supply chain issues or plan for peak season sales.
- Track products through whole life cycle — You have access to data to track products through their entire life cycle to make better pricing and business decisions.
These benefits allow your business to lower its overhead costs and deliver a better overall experience. When you outperform the competition, you’ll achieve better overall results.
Automate Your Work Order Scheduling with Paper Street Scheduler
With Paper Street Scheduler, you can organize your work orders and see where your inventory is missing to complete any outstanding work orders.
- Drag-and-drop work order scheduling
- Schedule individual operations across multiple work centers
- Color-coded visual cues allows you to quickly and efficiently view the status of all your work orders across all work centers
Paper Street Scheduler can transform your scheduling and save thousands of labor hours per year through intuitive interfaces and a best-in-class feature set.
Work With a NetSuite Partner to Achieve the Best Results
If you’re ready to streamline your inventory management, NetSuite may be the ideal solution. We are a licensed Oracle NetSuite Solution Provider and ensure our clients maximize their return when they implement an advanced technology solution like NetSuite. When you have questions, we ensure you get prompt access to the answers you need. Contact us today to learn more about implementing NetSuite for your business.
