Inventory Management

Summary

A single, real-time overview of items, inventory and orders across all sales channels enables businesses to fulfil orders quickly and accurately. With tools for tracking inventory in multiple locations, determining reorder points, managing safety stock and cycle counts, businesses are able to keep inventory costs low while exceeding customers’ expectations.

Features

Demand-Based Inventory Replenishment

NetSuite provides intelligent control over inventory replenishment, helping to ensure that sufficient stock is on hand to fulfil anticipated orders, while keeping excess stock to a minimum.
NetSuite Advanced Inventory enables you to:

• dynamically manage item-reorder points and preferred stock levels, based on average lead time, historical or seasonal sales demand and the number of days’ supply in stock
• reduce lag time via real-time alerts whenever stock falls to predefined thresholds
• avoid “stock-outs” to maintain continuity

Inventory Control

NetSuite enhances inventory visibility with tracking and control capabilities across multiple locations, in order to manage every stage of the lifecycle and control costs.
NetSuite Advanced Inventory provides:

• real-time visibility for items across all locations and channels;
• landed cost allocation according to weight, value or quantity;
• serialised inventory, in order to track purchases and sales by assigning a serial number to each item;
• batch management, in order to track the purchase, stock and sale of a group of items by assigning a specific number to the group;
• bin management, in order to organise and track the exact location of items in stock in your warehouse(s);
• printable bar codes and item labels with transaction numbers on sales orders, packing slips and invoices;
• various forms to run day-to-day supply chain operations, including inventory count sheets, manufacturing dispatch lists and manufacturing travellers.

Inventory Process Management

NetSuite streamlines core processes using automated workflows and simplifies complex tasks by requiring less time and effort.
NetSuite Advanced Inventory optimises operations with:

• return-merchandise authorisation where warranty claims can be verified, in order to refund, repair or replace product defects.
• picking, packing and shipping management for high-volume order processing environments.

Key Advantages

• Tighten control over your full inventory lifecycle across multiple locations.
• Slash costs for procurement, warehousing, shipping and fulfilment.
• Boost customer satisfaction by eliminating stockouts and speeding up deliveries.
• Continuously monitor and improve performance with real-time dashboards and analytics.