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NetSuite Inventory Management Systems Software

Automate inventory management, reduce handling costs, optimise cash flow

“I needed an inventory management system where everything is traceable. In NetSuite, I can see related records and every activity associated with a particular order — at the detail level — for auditing. Now we have valid, documented steps of what happened [with any given order]. “

Melvin Rodriguez
COO at Mielle Organicsealth

NetSuite Inventory Management Benefits

Optimize Inventory Levels

Demand-based planning using historical demand, sales forecasts and seasonality ensures you have the right amount of stock.

Boost Profitability

Managing inventory is more efficient and cost-effective with company-wide inventory visibility.

Decrease Cost of Goods Sold

Intelligent fulfillment minimises handling expenses and reduces shipping costs.

NetSuite Inventory Management Features

NetSuite Inventory Management minimises manual processes by automatically tracking inventory levels, orders and sales throughout the inventory life cycle, and provides the insights needed to make data-driven decisions and clear visibility into any inventory liabilities, like excess or slow-moving stock.

Challenges NetSuite Inventory Management Solves

Manual Reporting

Inaccurate, time-consuming inventory reporting will be a problem of the past.

Inefficient Utilization

No longer worry about having excess inventory in one location while another location is out of stock.

Inaccurate Planning

Minimize the problems that result from poor planning, like stockouts, excess inventory, increased discounting and write-offs

Lack of Visibility

Inability to track and trace a product from supplier to customer order will no longer be a concern.

Excessive Handling

Eliminate unnecessary handling that increases cost of goods sold (COGS).

Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

Have questions?

To add an inventory item in NetSuite, you must create the inventory item record, defining the item’s unique characteristics, including: units of measure, how you cost items (FIFO, LIFO, average, etc.), landed cost and replenishment method, set list price and discount price, as well as COGS.

Inventory control refers to a business’ ability to secure the required stock to fulfill anticipated orders without delay, while keeping inventory carrying costs to a minimum.

Adjusting inventory in NetSuite can be done individually for that item or in bulk using the inventory worksheet. You can update item quantities individually in the Transaction menu, but changes to the inventory record such as value, unit cost, etc., must be done in the item master.

Resources

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