As most businesses and consumers are currently discovering, the supply chain serves as the foundation of a functioning and robust economy. It is a primary driver of retail, manufacturing, logistics, wholesale, and raw materials industries. Without it, businesses can’t function, and consumers won’t get the products they need and want.
Managing the supply chain, or any piece of it, can be challenging at best. Because there are so many moving parts and pieces that rely on other resources and schedules, it requires a sophisticated solution. Businesses can manage and optimize the supply chain using NetSuite for supply chain management.
What is NetSuite for Supply Chain Management?
NetSuite is a cloud-based Enterprise Resource Planning (ERP) solution that gives businesses the tools to manage their business and the data they need to make key strategic decisions. NetSuite offers a Supply Chain Management module, enabling organizations in relevant industries to get a complete view of goods from suppliers through manufacturing, all the way to the customer’s hands. This is a completely integrated, cloud-based system that provides a variety of efficiencies for businesses that are concerned about the supply chain.
Benefits of NetSuite ERP for Supply Chain Management
Anything involving the supply chain is complex enough. Running a business with multiple systems that either don’t communicate or overlap can create unnecessary inefficiencies and delays. NetSuite records and updates financial reports, inventory, production data, and outstanding orders in real-time. Some of the benefits of NetSuite for supply chain management include:
Better Supply Planning
NetSuite allows you to analyze demand, indicate your replenishment needs, and create orders automatically according to your latest supply plan.
Improved Supply Chain Execution
You can optimize all of the assets in your supply chain, control costs, and improve your delivery accuracy to customers.
Reduce Supply Chain Risks
Use NetSuite’s predictive analytics to identify potential risks in the supply chain and deploy scenario planning to figure out the most strategic way to respond to different scenarios.
Lower Stock Outs
Optimize product availability, which can also improve sales, by accurately predicting future demand.
Minimize Production Delays
Take product and logistics lead times into consideration to figure out when materials should arrive on-site to keep production on schedule.
Inspect materials as they arrive at your location and conduct regular audits of the production process, all to ensure your established standards are maintained.
Improved Cash Flow
Better understand when materials and goods are required to meet consumer demand, plan production more effectively, and minimize inventory on hand.
Reduce the costs associated with planning, managing, and executing processes connected with the supply chain.
Learn More About NetSuite for Supply Chain Management
If you’d like additional insights into NetSuite for supply chain management, we’d be happy to help. StratusGreen is a certified NetSuite Solution Provider with extensive experience in demand planning, supply chain management, implementation, integrations, and optimization. Contact us today to set up a personalized NetSuite demo to experience what it can do for your business.