Within the standard features for manufacturing in NetSuite, this is not available. However, by doing some customization, this can be easily achieved. The time required to complete a work order is recorded in the manufacturing routing. This detailed information serves as the foundation for measuring and analyzing resource capacity visibility in NetSuite.

By leveraging this data, manufacturing organizations can gain valuable insights into work center utilization, ensuring that manufacturing resources are effectively managed and utilized to their fullest potential. Having precise data on resource usage helps in identifying bottlenecks, optimizing workflows, and enhancing overall productivity.

Custom Fields and Detailed Reporting

To enhance resource capacity visibility, a custom field can be created on the Manufacturing Work Centre Record to record the resource capacity in minutes or hours. However, recording capacity in minutes allows for a granular view of how resources are utilized, which is critical for fine-tuning production schedules and ensuring that every minute is used efficiently.

A detailed report can be developed to provide comprehensive insights into resource utilization. This report can include the following data based on Work Orders:

• Work Order: Provides a high-level overview of the work orders being processed.
• Operation Sequence: Details the specific steps involved in the manufacturing process.
• Production Events: Captures significant events that occur during production.
• Work Center: Identifies the machines being used and their utilization rates.
• Capacity Utilized: Shows the real-time capacity usage, allowing for immediate adjustments if needed.
• Locations: Indicates where the manufacturing activities are taking place.
• Quantity: Tracks the quantity of items being produced.
• Status: Provides the current status of the work order (e.g., in progress, completed).
• Start Date: Records when the manufacturing process began.
• End Date: Records when the manufacturing process is expected to or has concluded.

Report Filters for Enhanced Analysis

To allow for targeted analysis and better decision-making, the report can include several filters. These filters enable users to refine the data based on specific criteria, making it easier to focus on the most relevant information. The filters available within the report can include:

• Work Order: Filter data by specific work orders to analyze individual performance.
• Work Center: View data for particular machines to assess their efficiency and utilization.
• Date: Filter by date to examine resource usage over specific time periods.

By incorporating custom fields and detailed reporting capabilities within NetSuite, manufacturing organizations can significantly enhance their visibility into resource capacity. This approach not only ensures efficient use of manufacturing resources but also supports strategic planning and operational efficiency. With accurate and real-time data on work center utilization, organizations can make informed decisions, optimize production schedules, and ultimately drive better business outcomes. This level of insight is invaluable for maintaining competitiveness and ensuring that resources are always aligned with production demands.

The post Enhancing Resource Capacity Visibility in NetSuite appeared first on OdeBlog.

In today’s competitive business landscape, efficiently managing customer deposits is crucial to maintaining smooth operations and satisfying customers. Many businesses struggle to keep track of these deposits, leading to potential delays and confusion that can disrupt order fulfillment. Implementing clear criteria for processing orders based on customer deposits can significantly streamline this process, ensuring accurate customer accounts and seamless business operations.

Effective order processing is especially critical when dealing with high-value inventories. Ensuring that customer deposits are accurately recorded and applied can prevent discrepancies and build trust with clients. To achieve this, customization within NetSuite’s Sales Order Fulfillment process can be a game-changer.

Customizing the Sales Order Fulfillment Process

Customization in NetSuite allows businesses to apply predefined criteria to process orders only for customers who have made an upfront payment. This criterion can be implemented on the item commitment level, enabling the system to verify the existence and amount of a customer deposit for each Sales Order.

The criteria for deposit verification can vary based on business needs. For instance, businesses can establish multiple customer deposit thresholds for different items or opt for a simpler approach, such as a basic customer deposit verification per sales order. Here’s how this can be done:

• Deposit Verification Criteria: The system checks for a customer deposit when a Sales Order is created. If the deposit meets the predefined criteria, the system proceeds with the default option to commit the available quantity of the item.
• Auto-Selection of “Do Not Commit”: If the criteria are not met (i.e., a customer deposit does not exist or is insufficient), the system will automatically select the “Do Not Commit” option for that item line. This prevents the item from being reserved for an order that has not met the deposit requirements.

Enhancing User Experience

To make this customization more user-friendly, a field can be added to display the reason for commitment or decommitment of an item. This transparency helps users quickly understand why an item was or was not committed, reducing confusion and improving the efficiency of the order fulfillment process.

Benefits of Customizable Deposit Verification

By leveraging customizable deposit verification within your Sales Order Fulfillment process, you can streamline order processing and eliminate confusion. This ensures that customer accounts are accurate and prevents delays caused by missing deposits. Here are the key benefits:

• Improved Accuracy: Ensures that only orders with sufficient customer deposits are processed, reducing the risk of errors.
• Enhanced Efficiency: Automates the decision-making process regarding item commitment, saving time and reducing manual intervention.
• Transparency: Provides clear reasons for commitment or decommitment, helping users understand the process and reducing potential disputes.
• Customization: Allows businesses to tailor the criteria for deposit verification to meet specific needs, whether through multiple deposit thresholds or simple verification checks.

Incorporating customizable deposit verification within your NetSuite Sales Order Fulfillment process can significantly enhance your business operations. This approach ensures that only orders with verified deposits are processed, safeguarding your high-value inventory and maintaining smooth, efficient operations.

Whether your business requires complex deposit thresholds or a straightforward verification system, this customization provides the flexibility and control needed to meet your specific needs. By implementing these strategies, you can streamline your order fulfillment process, improve customer satisfaction, and ultimately drive business success.

The post Streamline Sales Order Fulfillment with NetSuite Customer Deposits appeared first on OdeBlog.

Rebate Management is a crucial process for sales growth and stability particularly for the manufacturing industry. NetSuite Rebate Management offers a comprehensive rebate management module designed to streamline and optimize rebate processes for businesses of all sizes.

This blog explores NetSuite rebate management capabilities to enhance your business operations.

What is Rebate Management?

Rebate management involves the creation, tracking, and processing of rebate agreements between a business and its customers or partners. Rebates are incentives offered in the form of discounts, refunds, or credits based on predefined conditions such as purchase volume, sales targets, or specific product purchases.

Effective rebate management ensures that these incentives are accurately calculated, promptly disbursed, and properly accounted for, reducing the risk of revenue leakage and enhancing financial transparency.

Reasons to Implement NetSuite Rebate Management

• Automated Rebate Calculation: NetSuite Rebate Management software automates the calculation of rebates based on predefined rules and conditions.
• Flexible Rebate Agreements: NetSuite allows for the configuration of complex rebate structures, including tiered rebates, cumulative rebates, and product specific incentives.
• Real-Time Tracking and Visibility: NetSuite provides real-time tracking of rebate accruals and liabilities, offering a transparent view of rebate performance.
• Accurate Rebate Accruals and Payments: The system ensures accurate accrual of rebate amounts in financial records, reflecting the liabilities and expenses associated with rebate agreements. This enables timely and accurate disbursement of rebates, whether in the form of credits, payments, or discounts.
• Comprehensive Reporting and Analytics: NetSuite offers robust reporting and analytics tools to evaluate the effectiveness of rebate programs. Businesses can generate detailed reports on rebate performance, track rebate liabilities, and analyze the financial impact of rebates.

Customizing NetSuite for Wholesale Accounts with Multiple Locations

Wholesale accounts often operate on a larger scale, involving multiple purchasing locations, varying rebate agreements, and distinct inventory needs. These complexities pose unique challenges in rebate management, such as:

• Consolidated Tracking and Reporting: Aggregating rebate data across multiple locations can be difficult.
• Diverse Rebate Structures: Different locations might have unique rebate agreements based on their sales performance, purchase volumes, or specific product lines.
• Accurate Allocation: Ensuring that rebates are accurately allocated to the correct location and appropriately reflected in financial statements.

To address these challenges, NetSuite can be customized to better manage rebates for wholesale accounts with multiple locations:

1. Location-Based Rebate Agreements: Customize NetSuite to allow the creation of location-specific rebate agreements. This enables each location to have tailored rebate structures based on its unique requirements and performance metrics. Use custom fields to define location-based criteria within the rebate agreements.
2. Consolidated Rebate Tracking: Implement custom workflows and scripts to aggregate rebate data across multiple locations. This customization ensures that all rebate activities, accruals, and disbursements are centrally tracked and easily accessible.
3. Automated Allocation and Distribution: Customize the rebate calculation logic to factor in location-specific conditions and ensure precise distribution.
4. Enhanced Reporting and Analytics: NetSuite’s Saved Searches and Custom Reports can create detailed analytics that provide insights into rebate effectiveness across different locations.
5. Location-Based User Roles and Permissions: Customize user roles and permissions to ensure that staff at each location have access to the rebate management features relevant to them. This reduces confusion and ensures that sensitive rebate information is appropriately protected.

Implementing best practices and continuously refining rebate strategies is the key to optimize the benefits of NetSuite’s rebate management, driving business growth and customer satisfaction.

The post NetSuite Rebate Management appeared first on OdeBlog.

The purpose of this post is to understand NetSuite ERP, and the NetSuite ERP Implementation methodology with a simplified approach. This approach will identify focus points which can help organizations plan and prioritize different NetSuite ERP implementation tasks, deploy resources effectively, and track progress to ensure a successful implementation.

The standard implementation project life-cycle can be divided into four distinct phases and it is very important to understand the purpose of the activities involved in each stage in order to ensure a fruitful experience.

Phases for a Seamless NetSuite ERP Implementation

1.  Engage

The Engage phase includes initial activities required to begin with the project and is primarily focused on detailed requirement gathering from the customer. Including the initial kick-off sessions and briefings, the Engage phase is aimed at providing insights to the customer regarding the project life-cycle, the product features and key take-way from this phase is for the consultants to have an in-depth understanding of the customer’s business requirements and expectations from NetSuite.

It involves conducting process area wise Personalization Sessions to assess and gather the business requirements which will enable consultants to configure the system accordingly. It is very important that relevant resources are assigned to attend these sessions to ensure that the business requirements are communicated properly and completely, and a clear set of expectations can be defined.

Another aspect of these sessions is to identify if all the requirements can be fulfilled using the standard system functionalities or there is a need for customization to provide for certain required functions. To ensure success in this phase, it crucial to ensure that the process area wise business requirements are communicated clearly to the consultants by the resources most well equipped within the customer organization.

2. Drive

The Drive phase includes a detailed demonstration of the NetSuite processes referred to as Process Walkthrough Sessions. Based on the information and requirements gathered in the Engage phase, the consultants demonstrate a configured NetSuite Account in a Sandbox (Test) Environment using a sample set of data.

It is important to give due consideration to the sample data being used while conducting the process walkthroughs as the sample data should be relatable with the current business processes in order for the customer to properly understand and analyze the configured system and address any concerns. Based on the feedback provided by the customer organization during this phase, necessary actions are taken and required configurational and set up level modifications are performed to fine tune the system.

3. Enable

After completion of the Process Walkthroughs and required modifications, the Enable phase begins. This is where the most participation is required from the customer organization as it includes conducting process area wise User Acceptance Testing (UAT). This involves engaging the customer’s team in performing detailed test transactions based on real time scenarios and data in the configured Sandbox Environment.

The objective of this phase is to provide the customer with the ability to completely test a fully configured system and ensure that all the requirements have been mapped and the system behavior is as expected in all aspects including the recording of transactions and generating reports as well.

The enable phase is also where the customer’s team gets equipped with all the knowledge and trained to perform routine business transactions to facilitate a smooth Go-Live. It is recommended that all users participate in this activity as per their role which allows a more detailed testing and validates the configured system. As a result, any existing issues are highlighted and resolved before going live.

4. Convert

This is the final phase that includes making the Production Environment ready for Go-Live, importing complete legacy data in NetSuite, performing a system readiness check and providing Post Go-Live support to the customer. It is advisable to provide the complete legacy data in a timely manner to avoid any delays that may cause transaction backlog. Any issues discovered after the Go-Live are addressed as part of the Post-Go Live support as well as any assistance required in performing routine transactions is provided.

To summarize, each phase has its own set of objectives and the key is to deploy appropriate resources for each implementation task while tracking the progress efficiently to ensure a successful implementation.

The post NetSuite ERP Implementation Checklist: Methodology & Process Simplified appeared first on OdeBlog.

Communication is difficult. Many factors impact the way we communicate with and understand (or don’t) each other. Even when we are in the same room where we do have all our senses available to help us decipher what the other person is saying or hearing. Once we are not in the same location, country or timezone anymore and we have to rely on our written or spoken communication and video chat, it is even more difficult to communicate successfully. 

In the office, I was able to support my verbal communication with facial expression and body language. Moving my toes, opening my arms, turning towards the person I was talking to or high heels to intimidate executives and mostly male colleagues. Since I’ve worked remotely I had to rely a lot on written and asynchronous communication and can’t use my height or hugs anymore. It’s difficult, to say the least. There are so many that make it hard to communicate when you are not in the same physical location.

Language Barriers

Let’s start with different languages. Remote teams are often spread across different countries, with different native languages and proficiency levels of the company language used. It can take a lot of patience on both sides to get an important point across or understand what one person is expecting from the other. Don’t forget that it takes a lot of courage to speak in a language that you are not yet proficient in. Remember to appreciate that this courage makes it possible for you to understand each other. What do a few grammatical mistakes and a little more time matter? In addition to that, let technology help you. Translation tools have come a long way and can be very helpful as well as team members who can translate or visuals, such as sketches and designs.

Cultural Differences

Cultural differences can cause us to come across as aggressive or cold, while we just want to communicate efficiently. Small talk is a must for some and a waste of time for others. Some expect to be called upon and told what to do, others have no problem speaking their minds even to senior members of the team. Personally, despite the criticism, I’ve found personality tests to be immensely helpful when interacting with colleagues remotely, when used carefully, only to adjust my communication style for each member of the team. Of course, when you have the time, you want to spend time with each member and ask how they do prefer to communicate, have them repeat what you said in their own words and create a glossary of work related terms to avoid misunderstandings.

Different time zones and personal situations

Different time zones and personal situations add challenges as well. While I throw out an enthusiastic “good morning”, my colleague might be reaching the end of a long and stressful day and does not react exactly as I expected them to. And no matter the time of day, we never know what kind of day our colleagues had. Their pet might just have died and we’re sharing cute puppy pictures. We never know the full story behind our colleague’s behavior and why they said what they said and how they said it. It’s helpful to agree on hours of availability, so that we know when to reach a colleague. Clearly define levels of urgency, so that everyone knows when a response is required.

While many remote companies claim that they have flat hierarchies, we must not underestimate how a title impacts our words. If a CEO or VP says “I wish we had this feature”, they need to be aware that someone in the engineering team might get started on that feature right away, regarding it as the highest priority. I’ve also seen someone recently promoted to director,  verbally attacking a more junior product manager, making them fear for their job. With great titles comes great responsibility, we need to be aware of that when we write or speak to others.

Communication Styles & Preferences

Lastly, we all have different communication styles and preferences. Not everyone can look you in the eyes when you’re talking to them. That does not mean, they’re not listening attentively. Some prefer written communication over a call, some like audio or video recordings. Ideally, we find a way to communicate our preferences to others or ask them how they prefer to communicate. Something helpful I have seen are documented communication etiquettes for video conferences and chatting tools. Basic things such as saying “Hi”, “Please” and “Thank you” go a long way and don’t take much time. Last but not least, emojis, images and gifs allow us to bring across something we cannot put into words.

Here is an example for a gif my team and I used to help sales & executive teams understand the importance of prioritization and focus for development team

The post Remote Communication: How to Communicate Effectively Online appeared first on OdeBlog.

Companies generally have a requirement of building a Fixed Asset over a period of time (i.e. Building / Plant & Machinery) and therefore they want to track the billing components against a particular job and once the asset is developed completely they want to recognize it within the Property, Plant & Equipment and start recording its Depreciation.

There can be multiple ways of handling this requirement within NetSuite, I would like to demonstrate the steps that can be followed, to ease the handling and ability to manage Capital Work In Progress requirement within the Fixed Assets Management Module.

Steps to Managing Capital Work In Progress Within NetSuite

Step 1: Setting up Capital Work In Progress Account

Navigate to Lists > Accounting > Accounts > New and create an account by entering details like Account Number, Account Name, Account Type, and Subsidiary details as per below screenshot:

Step 2: Create the Non-Inventory Item / Items for components that need to be purchased for Capital Work In Progress

Navigate to Lists > Accounting > Items > New and create Non-Inventory Item for Purchase and enter details like Name, Unit of Measure, and Expense Account as ‘Capital Work In Progress’ as created in step 1, under the preferences Tab, set the checkbox for ‘Can be Fulfilled/Received’ as True as per your business need.

Step 3: The user either may directly create a Vendor Bill for the purchase of components to be used in the development of the Asset or may proceed with the Purchase Order Process, for the sake of simplicity, I would directly create Vendor Bills for it.

For creating the Vendor Bill, Navigate to Transactions > Payables > Enter Bills, and provide details like Vendor, Memo (Specifying the Job Number), and Item (as created per step 1).

Recorded Bill leading to following GL Impact:

Record all bills related to Capital Work In Progress in the same manner as mentioned in this step.

Step 4: Create the saved search report to track the Capital Work In Progress against the particular Job like below. The report will provide results for costs accumulated against a particular Job after applying the filter for the Job on it.

Step 5: When the Asset is ready, and needs to be capitalized, the user may proceed to post the following general entry in the system as per the nature of the Fixed Asset with the amount as accumulated to that Job (Refer to Step 4).

Step 6: After recording the above entry, this will be available for Asset Proposal Screen to generate Fixed Asset out of it and that entry would be linked to Fixed Assets enabling to trace back the history of components used in the development of such Asset, by searching the memo of JE to the saved search report as mentioned in Step 4.

Need help improving NetSuite for your business?
Hire a Consultant Today!

The post Handling of Capital Work In Progress in NetSuite appeared first on OdeBlog.

ERP Customization for Workflows

The challenge was clear: the client faced issues with manual billing processes, delayed revenue recognition, and inefficient workflows that hindered their growth. Our consultants meticulously analyzed their needs, implemented SuiteBilling to automate complex billing scenarios, and integrated ARM to streamline revenue recognition. Additionally, custom workflows were designed to automate repetitive tasks, reducing manual intervention and errors.

The outcomes were remarkable. Post-implementation, the client reported a 40% increase in billing accuracy, a 30% reduction in the time spent on revenue recognition, and overall operational efficiency improvements that saved hundreds of hours annually. This allowed the client to reallocate resources towards strategic initiatives, driving further business growth.

This success story underscores our commitment to leveraging the full potential of NetSuite through expert customization. Our consultants are not just technical experts; they are strategic partners dedicated to enhancing your business processes and achieving measurable results.

Stay tuned for more success stories and insights from the OdeCloud team, as we continue to empower our clients with cutting-edge ERP solutions and outstanding consultancy services.

Need help improving NetSuite for your business?
Hire a Consultant Today!

The post ERP Customization Success: Enhanced Efficiency with OdeCloud Experts appeared first on OdeBlog.

At OdeCloud, we’re committed to helping you unlock the full potential of your NetSuite ERP system. As part of our ongoing partnership, we want to remind you of the powerful capabilities and enhancements available through NetSuite extensions that can significantly benefit your business:

Tailored Custom Solutions

We offer customized solutions specifically designed to meet your unique business needs. From automating specific workflows to enhancing reporting capabilities and integrating third-party applications, our team can develop bespoke extensions that streamline your operations and improve overall efficiency.

Advanced SuiteBilling Implementation

Optimize your billing processes with our expertise in SuiteBilling. Our team can help you configure and customize SuiteBilling to ensure accurate, timely, and compliant invoicing, subscription management, and revenue recognition. This will enhance your financial reporting accuracy and improve cash flow management.

Comprehensive SuiteAnalytics

Gain powerful insights with SuiteAnalytics. We can help set up and optimize SuiteAnalytics for your organization, providing real-time data analysis, customizable dashboards, and detailed reporting. This enables you to make data-driven decisions and maintain a competitive edge.

Seamless Integration Capabilities

Enhance your NetSuite ecosystem by integrating it with other critical business applications. Our team ensures seamless connectivity with CRM systems, eCommerce platforms, and other software, allowing for unified data flow and improved operational efficiency.

User Experience and Customization

Improve user adoption and satisfaction by customizing the NetSuite interface and functionality to better align with your team’s workflows. We can tailor dashboards, fields, and forms to create a more intuitive and efficient user experience.

Automation of Business Processes

Reduce manual tasks and increase productivity through automation. Our experts can implement and optimize SuiteFlow workflows to automate routine processes, ensuring consistency and freeing up your team to focus on strategic initiatives.

Dedicated Support and Training

Benefit from ongoing support and training tailored to your specific needs. Our consultants provide technical assistance, answer your questions, and train your team to ensure you get the most out of your NetSuite extensions.

Security and Compliance Enhancements

Ensure your NetSuite environment is secure and compliant with industry standards. Our team can help you implement security best practices, monitor for potential threats, and maintain compliance with regulatory requirements.

We are excited to continue our partnership and support your success with NetSuite. If you have any questions or need assistance with NetSuite extensions, please don’t hesitate to contact us. Together, we can transform your business processes and achieve your strategic goals.

Warm regards,

The OdeCloud Team

Need help improving NetSuite for your business?
Hire a Consultant Today!

The post The Power of NetSuite Extensions with OdeCloud appeared first on OdeBlog.

The post Boosting your productivity with these OdeTasks releases and our Mobile App! appeared first on OdeBlog.

Controlling inventory is frequently mentioned as being essential to a company’s success.  You can rationalize your inventory to cut costs and maximize income and profits. Even though your business may be smaller, the process of inventory management is still quite complex.

Well managed inventory starts with accurate, error-free and obtainable data about your inventory. But how much do you actually know about it?

This blog goes into great length on the value of inventory management and the numerous strategies that are available within NetSuite Inventory Management.

PREVIOUS POST — Automated Intercompany Eliminations: Simplify Your Close Process with NetSuite

NetSuite Inventory Management Best Practices for 2023

The world is evolving at a rapid rate. Businesses are having a hard time to keep up. It’s a much more dynamic environment now, where data analysis is very important as it helps businesses a lot, NetSuiteinventory management helps you with gaining a deeper understanding of your clients, better sales, enhancing clients targeting, lower costs and enables the development of better problem solving strategies.

By using NetSuite, customers can benefit from reliable and efficient shipping. NetSuite Inventory Management reduces manual processes by automatically monitoring inventory levels. It allows you to predefine execution rules to eliminate multiple shipments for a single order and avoid overage shipping costs.

RELATED POST — Simple Guide to NetSuite Grid Order Management

It will solve your problems such as; inefficient utilization, inaccurate planning and excessive handing. NetSuite provides benefits like decreasing charges of goods sold, optimizing inventory levels and increasing profitability.

Some of the best practices for 2023 by NetSuite Inventory Management are:

• Establishing Key Performance Indicators
• Creating an inventory receipt strategy
• Establishing strong relations with suppliers
• Calculating minimum stockholding limits
• Investing in an inventory management system

What is Inventory Management?

Inventory management helps businesses in determining which stock to order when and in what quantities. Inventory is tracked from purchase process to sale. To guarantee there is always enough inventory to fulfil client requests and proper notice of a shortage, the technique recognizes patterns and responds to them.

A company’s health depends on effective inventory management since it lowers the risk of stockouts and inaccurate records by ensuring that there is rarely too much or too little stock on hand. NetSuite inventory management’s goal is to have the right products in the right place at the right time.

Let’s explain it with an example:

A soap manufacturer has previously created a batch of soaps to dispatch to different points of sale. Given the high consumption of soaps, it reorders raw materials to start manufacturing the next batch.

Raw materials ordered beforehand, in this case, act as the inventory for the company. And the already delivered finished products are the inventory for retail units that will be selling soaps further.

Pre-ordering raw materials helps the company produce and supply soaps regularly to ensure the lead time does not keep customers waiting or making them switch to its competitor’s soap.

What is an Inventory Management System?

An inventory management system incorporates many software programs to keep track of stock levels and stock movements. The solution can integrate with multichannel sales platforms or shipping systems.

An inventory management system optimizes inventory levels and ensures product availability across multiple channels. It offers a single, real-time view of all products, stock, and orders across all locations and sales channels. This enables businesses to carry less inventory on hand and frees up cash to be used in other parts of the business. In order to meet customer expectations while minimizing inventory costs, an inventory management system is used.

RECOMMENDED POST — NetSuite SuiteBilling – Billing the way you want it

Inventory management software is used to track items and parts while they’re transferred from seller to a warehouse, through warehouses and eventually at a retail outlet or straight to a consumer. This software provides numerous benefits in a business setting:

• Inventory management software helps businesses cut expenses by lowering the quantity of insignificant parts and products in storage.
• Using inventory management software is time saving, cost saving and also increases business efficiency.
• Helps in the organization of warehouses. It leads to a new focus on enhancing mix and accelerating inventory turns.
• Inventory management software is a best source of updated data.
• Provides data security.

NetSuite Inventory Management system gives inventory managers advantage of software solutions to automate the workflow. It helps you allocate resources more efficiently. Inventory management system get product to customers in shorter and shorter amounts of time without creating back-office burden.

Does NetSuite have an Inventory Management System?

A system for managing inventories is available in NetSuite. Businesses can use it to reduce inventory to free up cash while preventing backorders because it offers a distinct, real-time view of inventory across all locations and sales channels.

NetSuite provides many features such as:

• It enables the users to configure multiple units of measure.
• It allows to have multiple locations for storing inventory and provides real time location-wise reporting.
• It allows to use Bins, an inventory feature to track the location of your inventory within your warehouse.
• Assembly Items is another feature that NetSuite provides. They are individual items that are made up of multiple components. If a product requires complete traceability of the components used—where they came from and where the final product went—Selecting this feature will ensure that traceability is strictly maintained.
• The final key feature NetSuite provide is Kits and Packages, they are units composed of individual items sold together.

NEXT POST — OdeCloud Aiming to Become Leader in NetSuite-Related Content

NetSuite ensures that you have the right amount of stock. In NetSuite, managing inventory is way more efficient. It also reduces handling expenses and shipping charges. It allows companies of any type to manage their entire business applications in one single system. It handles every need of worldwide businesses that use different languages, currencies, reporting necessities and tax laws.

NetSuite is more than just a financial management system. It gathers all core business functions. This platform is a single solution for all areas of business. Its automated and streamlined processes; instantly gather and submit accurate data in real time; and manage inventory and supply chain changes on the fly.                                                                                                                                        

It provides Unlimited Inventory Visibility: Real-time, company-wide inventory visibility — across warehouses, retail stores, pop-up shops, drop shippers, 3PLs or any other place where you manage or stock inventory — key to enabling a buy anywhere, fulfill anywhere customer experience.

How to select the right NetSuite Inventory Management System?

For many small and mid-sized businesses, their so-called stock management is not much of a system at all, but a combination of unskilled and inefficient data exports. Improved and optimized inventory not only reduces costs and increase process efficiencies, but it can be a launching pad for differentiated customer experiences.

NetSuite Inventory Management provides the benefits of cloud inventory management and with it, the ability to achieve end-to-end visibility of inventory to do everything from the reliable promise of goods to streamlining logistics in a way that rivals much larger companies.

PREVIOUS POST — How to Setup NetSuite Billing Schedules

NetSuite provides out of the box functionality for core processes and it is flexible enough to manage, customize and configure to your business’s exclusive processes. It has more refined features that will balance with inventory management needs. NetSuite is more than just a financial management system now. The three most important considerations while choosing an inventory management system are:

Inventory Management business problem

What problems is your business facing? The problem could be stock management, frequent overstock, replenishment of stock, not able to efficiently itemized stock into reserve inventory or lacking of visibility through various warehouse locations. Knowing your business’s problem will definitely ease the process of finding vendors that can achieve those features and functionality needs.

Integrating Inventory Management

An integrated method to inventory management confirms precise data across systems and offers a window to assess trends and business efficiencies.

Right Technology Partner

The right technology partner will bundle the training capabilities with the software and selecting software that is easy to use and understand, helps to lower the barrier in entry from the beginning.

By acknowledging business problems, clients and users, choosing inventory management software is not as overwhelming as it seems.

RELATED POST — NetSuite ERP: The Ultimate Business Management Solution

What are the best Practices for NetSuite Inventory Management?

Many CRM software are choosing NetSuite for thousands of businesses around the globe. Our experience with NetSuite is incredible. It’s instinctive and rich functionalities makes it ideal for almost all kind of businesses. It provides customer management, sales forecasting, time tracking, campaign management, email marketing, incentive compensation, opportunity management, lead management, real time dashboards and real analytics.

NetSuite gives you the visibility and control to make right decisions, it provides you the capacity to lead operational change in your businesses. With easy personalization and connectivity for third-party partners, you can constantly enhance your operations and cut cost in your day to day operations.

OdeCloud will help its clients position themselves to success by providing exceptional independent NetSuite consultants. We help our freelance consultants improve their skills with our strong community of like-minded experts and exclusive technology, while cutting costs, risks and efforts for companies looking to hire top talent. We will curate and organize your businesses.

RECOMMENDED POST — NetSuite Order Management: Superior Customer Experiences

We will ensure your project success with our performance-oriented matching technology. We provide a fully managed freelance service to ensure projects are delivered efficiently and consistently. We have skilled individuals that are self-sufficient, who you can depend on to bring your A-game.

The most experienced NetSuite consultants are increasingly opting for freelance work, our platform meets their requirements by offering them the best talent options for crucial NetSuite projects. We provide you technology powered talent solution to optimize your NetSuite platform ultimately helping your business grow. OdeCloud brings the core focus on value to NetSuite consultation.

Why companies in rapid growth choose OdeCloud?

Our collective intelligence and collaboration SaaS allows you to move projects faster. We provide evolutionary expertise through platform-level collaboration and collective intelligence. We run by agile talent pool to help speed up the company’s critical technology projects. We offer seamless pricing and flexible plans to fit your budget and talent requirements.

Benefits we provide

Our approval process is based on actual project data, with feedback from customers and peers we find you the perfect fit. Our technology makes it possible for NetSuite consultants to learn quickly, crowdsource solutions and solve problems with hundreds of experts sharing the same idea. We provide great visibility. You can eliminate long email chains where tasks get lost and time is wasted, we have made everything dead simple.

NEXT POST — NetSuite Inventory Management: A Comprehensive Guide

We provide you all type of customer interactions that includes sales history shipping status and many more, which means you can create a profile for each client and serve them better. We provide you with real-time data you need to plan your sales. You can also track the time your staff spend on individual interactions with incredible precision, you can better understand the value of each client.

How to get your work done?

Talk about the objectives you want to achieve with your NetSuite system. Get the best assortment for your work and take advantage of our flexible service plans. Get a talent management department that includes executing and delivering projects.

Preparing your Inventory Management System for 2023

If you are looking for an efficient and complete means of managing your NetSuite inventory, OdeCloud NetSuite professionals are here for you. Our team can provide you with a personalized solution to meet your specific requirements. We will work with you to build an effective and user-friendly system. As a result, you can concentrate on your business objectives.

PREVIOUS POST — FAQ: 10 Things To Know About Inventory Management In NetSuite

Our organized community of hundreds of NetSuite approved consultants and software partners work coherently to provide the best result for your business. We offer a talent market, digital workspace and machine learning community for independent technology consultants and world class business looking hire to them. We will help businesses to keep their inventory costs low.

We provide lot tracking and expiration date tracking, which will help businesses to keep track of their inventory, so they what they need and when they need it. We help businesses save their money and ensure product availability, because we are providing businesses a complete view of their supply chain, from raw materials to final products, so that they can plan their production more efficiently and make sure that the products are available when customers need them.

Learn more about OdeCloud NetSuite Services!

Tell us more about your business with this quick survey.

Let us optimize NetSuite for you

The post NetSuite Inventory Management: Everything You Need To Know appeared first on OdeBlog.