1-877-738-1657

NetSuite Services

NetSuite Evaluation & Sales

NetSuite ERP - Inventory

Inventory Management

Highlights

Keeping inventory management costs down is crucial to competitive advantage. NetSuite helps companies slash inventory costs by providing tighter control of stock levels. NetSuite allows you to set complex pricing rules based on individual customers, item variations, volume and more. And since inventory management features are integrated with customer relationship management (CRM) features, your customers, sales representatives and partners can view updated inventory levels on your Web store.

Benefits

Inventory integrated with order management and fulfillment
Tighter control of stock levels reduce overhead and ‘bad’ inventory
Real-time inventory improves shopping experience and sales

Bin Management

Highlights

NetSuite lets you ship orders to your customers more efficiently by organizing your warehouse using bins, to track the exact location of items in stock. Employees will be able to pick and fulfill orders faster when they know exactly where to go for the items they need. Each item may be stored in multiple bins, and different items can be stored in the same bin. Using bins will also help streamline the re-stocking process, by generating a put-away list for goods received but still in the loading area. You can use bins to organize a single warehouse or multiple warehouses, when using the Multi-Location Inventory feature.

Benefits

Improve warehouse efficiency (picking, put-aways etc
Supports multiple locations and warehouses
Carry more items without needing more space

Landed Costs

Highlights

Maximizing profit margin is key to the success of wholesalers and distributors. To more accurately calculate profit, particular for importers, expenses like shipping or duty must be added to material costs to calculate landed cost. NetSuite makes it easy to track landed cost, by allowing you to allocate expenses to inventory receipts according to weight, value, or quantity. These allocated costs become part of the item's asset value. Then, when you sell, landed cost is used as the basis for cost of goods sold, and your inventory profitability report will compare revenue to landed cost rather than material cost.

Benefits

Track and account for landed costs in cost of sale
Track and allocate expense to items
Attain more accurate inventory and sale profitability

Demand-Based Inventory Replenishment

Highlights

NetSuite provides intelligent control over inventory replenishment, helping ensure that you have enough on hand to fill anticipated orders, but keep excess stock to a minimum. Average lead time, historical or seasonal-based sales demand, and number of days' supply to stock are used to dynamically set reorder point and preferred stock level for each item, on an ongoing basis. You can always override or disable these calculations for individual items, to handle atypical circumstances. You set up the rules, NetSuite runs the numbers; the end result is a dynamic ordering queue, where you can order all your inventory items with one click and get what you need, when you need it.

Benefits

Automate the replenishment of your inventory based on hard-wired or 'smart' thresholds
Account for seasonality and dynamic changes in demand
One-click reorder and automated PO creation streamlines operations for savings

Customer, Volume and Multi-Currency Pricing

Highlights

Customer and Volume Pricing: With NetSuite's inventory management software solution, you can assign different prices for different types of customers. You can also assign different prices for wholesale, retail or online sales. NetSuite also supports multi-cirrency pricing that lets you set prices in each of the foreign currencies in which you trade. When you create orders or invoices for your foreign customers, NetSuite's inventory management software application will automatically select the correct currency and price, saving you valuable time.

Benefits

Create and manage complex pricing groups based on items, customers and volume
Reward larger customers and discount larger orders
Extend your web store to more countries with local currency pricing

Multiple Units of Measure

Highlights

With NetSuite's inventory management software application, you can manage multiple units of measure for selling, buying, and costing each item across various sales channels, including your Web site, retail stores, partner or wholesale channels. Additionally, you can more closely track inventory costs and increase profitability.

Benefits

Simplify buying and selling in different units of measure
Increase purchase option without incurring costs

Multi-Location Inventory Management

Highlights

NetSuite enables you to manage inventory in multiple locations. As you enter purchase and sales transactions, NetSuite's inventory management software application provides the capabilities to choose the warehouse location that will receive or fulfill the order. Inventory reports allow you to view information about your total inventory on hand, or just the inventory level at a specific location.

Benefits

Build multiple locations and warehouses within NetSuite
Organization your single warehouse locations or manage multiple locations, nation wide
Location specific reporting and valuation

Inventory Lot Numbers

Highlights

A complete history for each lot number is maintained in the inventory management program through the product's life cycle. You can also assign an expiration date to each lot number and enter notes about it. Lot items track the specific cost for each lot as products are bought and sold and lot numbers must be entered when building or receiving a lot into inventory, and when fulfilling orders for a lot item. You can even set up a warning to let you know when an item you're fulfilling is about to expire. And NetSuite's sophisticated transaction search functionality makes it simple to view the entire history of a lot as it moves through your system and to customers, making recall warnings extremely easy to handle.

Benefits

Auto-generate lot number for inventory groups
Track inventory lots with expiry dates to ensure oldest lots are sold/shipped first
Reduce cost of tracking and recalling inventory lots

Matrix Items

Highlights

With NetSuite's Inventory Management, you can handle various combinations of the same item, enabling different values for characteristics such as pricing, inventory status, and description. NetSuite gives your customers and sales representatives the ability to identify item combinations more quickly. As a result, you can meet the varying demands of your customer base more easily.