1 December 2023

In today’s game-changing economic landscape, business owners around the world strive to meet evolving and ever-changing customer demands. One of the most common challenges with inventory management is disrupted supply chain operation.  

With the deployment of NetSuite for Inventory Management, not even retail but manufacturers and other business into inventory management, can optimize inventory to overcome delays, shortages of required products/components, and bid farewell to supply chain issues efficiently.  

Additionally, this inventively engineered cloud ERP for inventory management that comes with inventive capabilities across Inventory Valuation would help businesses improve e-commerce, leverage omnichannel capabilities, and reduce cost without much hassle.  

Customer Experiences 

Businesses can easily implement NetSuite for Inventory Management that comes in steps of setting up in a single click. NetSuite enables you to make the most of the behavioral data such as visits, keyword searches, item views, page views, quote requests, and orders to serve your customers better.  

Additionally, you can avail of NetSuite Connector to integrate to marketplaces, including Amazon, 3PLs, and e-commerce platforms like Magento, WooCommerce, and Shopify.  

Inventory Management 

If you are running a warehouse, you can optimally drive business benefits via enhancements across NetSuite WMS, inventory management, and more. Particularly, Tally scan is now extended to support inbound processes. It increases inventory quantities as new items are scanned 

  • With optimized inventory management, you can 
  •  Instantly ship a pallet from a handheld device.  
  • Add or Remove cartons from a pallet. 
  • Pack multiple orders going to the same destination. 
  • Optimize shipping costs by holding the shipping until the pallet is full. 

Moreover, the NetSuite Manufacturing Mobile app now supports items that are serial tracked. 

Inventory Costing 

Inventory costing is also called inventory cost accounting. Inventory costing means process of assigning costs to products by the respective companies. These costs also include Average Cost Inventory method and incidental fees such as storage, administration, and market fluctuation.  

Inventory costing is a crucial part of inventory control technique. You can reduce total inventory costs by leveraging proper inventory control within a supply chain. These capabilities let you assist in checking how much product a company should carry. All this data helps companies in retail, manufacturing, and supply chain decide the required margins to assign to each product or product type. 

Supply Chain Management 

You can now use filter such as “earliest available item” to quickly see when the chosen product will be in stock and avail of the same at any given location. Also, NetSuite for Inventory Management creates suggestions for reallocating inventory if the shipment is missing synchronizing with customer expectations.  

Marketing planners, whether in retail or manufacturing, can get daily, weekly, or monthly reports to better anticipate trends in inventory. It allows them to automatically exclude previous recommendations from future forecasts if they are rejected.   

Advanced Financial and Operational Automation 

Businesses can get Accounts Receivables capabilities to send out invoices with a link for online payment. It automatically records full or partial payment, and improving cash flow. It enables you to offer your customers the option to pay invoices via bank e-payments and credit cards, improve data privacy and security protections, and drive greater efficiency via automation-powered implementation. 

Business transition to the cloud is undoubtedly hectic but an intelligent move these days. You can make the most of Digital Transformation by following industry standard-based practices offered by an acclaimed NetSuite Solution Provider in India, who can let you unlock your growth potential with trending opportunities. 

For more details on NetSuite for Inventory Management, write to us at info@netsuiteexpert.in  


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