NetSuite's Supply Chain Management Modules
NetSuite can give you the power to cut costs and maximize resources throughout every stage of the manufacturing process.
NetSuite doesn't come standard with all of these functionalities — they come packaged in something called a supply chain management module.
Whether you're running a warehouse yourself or are making decisions on behalf of one, NetSuite's supply chain module is an invaluable tool to keep your business running smoothly and always improving profit margins!
Here's what it includes.
What is a NetSuite Module?
NetSuite can be customized to fit all of your business needs. Because it has so many functionalities, it doesn't come with everything off the bat.
NetSuite comes standard with ERP and CRM capabilities — for anything beyond that, you'll likely need NetSuite modules.
Because NetSuite wants its users to build up the software to match their exact needs (and so you aren't paying for more than you need), each module has a whole suite of options to choose from. You can pick and choose exactly what you want.
While there are plenty of NetSuite modules available, this guide is focused on the supply chain module and everything it includes.
What is NetSuite's Supply Chain Module?
NetSuite's supply chain management module helps companies manage their flow of goods, production, and manufacturing.
Top benefits of the supply chain module include:
- Real-time data, so you're only ever looking at the latest numbers and can make decisions quickly.
- Improved profitability, as NetSuite helps optimize your processes through demand planning.
- Less risk, thanks to predictive analytics and AI.
- Minimize production delays, as NetSuite will let you know exactly when items need to arrive to keep production on time.
How Much Does NetSuite's Supply Chain Module Cost?
The price of NetSuite is based on the number of users you need, the core license, and any additional modules. So, just like NetSuite isn't one-size-fits-all, the price you'll pay isn't the same for every company number, either.
You might need more than just the NetSuite supply chain module, or you could only need certain parts of it. Your NetSuite Consultant will work with you to get you everything you need (and make sure you aren't paying for something you won't even use!).
Here's What NetSuite's Supply Chain Module Includes
NetSuite procurement is a central hub for managing vendors and purchasing. It uses real-world data and artificial intelligence to help your business save money, time, and be as proficient as possible.
It helps your business:
- Maximize your budget by helping you buy at the best price (this process can even be automated!).
- Automate workflow processes, so your employees won't have to spend time doing it.
- Monitor the performance of vendors.
- Keep track of purchases to optimize inventory and automate the workflow approval process.
All of your procurement data, including transactions, records, vendor performance, and expenditures by department is housed in one central dashboard. Ultimately, you'll gain stronger, real-time insights into vendors and company budget spend.
NetSuite Warehouse Management System
Successfully managing a warehouse takes a lot of careful planning. NetSuite's warehouse management module helps perfect your daily operations all from the palm of your hand (i.e., a mobile device).
- More accurate data. Since NetSuite's warehouse management system operates from a mobile device, you can scan every shipment as it comes in. This helps staff pick items from the right places, know exactly where everything is, and what current inventory levels are.
- Stronger inventory visibility. Your entire organization will have insights into current inventory numbers and transactions. The second an item is scanned, NetSuite updates the data in its system.
- No data syncing necessary. Instead of having to sync information between multiple systems, NetSuite keeps everything in one place. Order fulfillment, manufacturing, and inventory management teams will all work with the same information.
- Streamlined warehouse operations. Capable of managing inbound logistics, order fulfillment, mobile warehouse management, and bin management, your warehouse will operate better than ever before.
From getting shipments out the door quicker to optimizing the time of warehouse staff and space, this module is golden for any warehouse.
NetSuite Demand Planning
Just because demand planning involves hypotheticals doesn't mean it has to be guesswork. NetSuite's demand planning module bases sales forecasts on a combination of real data and predictive analytics.
Accurate demand planning minimizes extra inventory and allows for more data-informed decisions.
Why do you need NetSuite's demand planning?
- Accurate product availability. Proper demand planning means you'll be adequately prepared for any season, sale, or shifts in demand. This helps minimize items going out of stock, boosts customer satisfaction, and ensures your items are always available.
- Optimal inventory levels. You shouldn't be buying more inventory than you need to keep on hand. NetSuite streamlines inventory purchasing by ensuring you purchase the correct amount, meaning you won't be stuck storing more than you need.
- Maximize profits. NetSuite's demand planning helps boost your profits in more ways than one. Mainly, accurate stock levels lead to happy and loyal customers. Plus, if you aren't buying more than what you actually need, you won't have to lose money putting items up for sale just to clear them out of your warehouse.
NetSuite Quality Management
NetSuite's quality management makes it easy to ensure you're always delivering high-quality products. It's easy to set up and manage and you'll always have real-time inspection insights.
All you have to do is pick which tests you want your products to go through, define the parameters for each one, and leave it up to the product testing experts. You'll be able to quickly and easily review all test results.
Here's how it works:
- Pick which tests you want your products to go through
- Define testing parameters; you can set up triggers to inspect products based on certain actions or conditions
- Specify exactly how you want results to be reviewed
- NetSuite will let inspects know which products to test
- Results will be collected and sent through the proper workflows without you having to do a thing!
NetSuite Work in Process (WIP) and Routings
NetSuite's WIP and Routings module improves your entire manufacturing process, from resource purchasing to over or under-utilization and processing time.
If you're in the manufacturing industry, we don't need to convince you how important it is to optimize your budget through the full production process.
So, why should you let NetSuite handle your routings and manufacturing process? Here are a few reasons:
- Accurate costing. NetSuite will show you all of the direct and indirect costs involved with any routing. The best part about NetSuite's costing functionalities is that each time an operation is finished, NetSuite incorporates that data for the next round of production.
- Real-time visibility. The cost of goods is always changing. NetSuite gives you real-time insight into vendor pricing so you can always purchase at the right time.
- Infinite capacity scheduling. NetSuite's routing functionality includes an engine capable of infinite capacity scheduling. It identifies which resources are being under or over-utilized, so you can optimize purchasing or production as needed.
NetSuite Work Orders and Assemblies
This is perfect for companies making products with multi-components. In simple terms, it gives you the ultimate visibility and control you need over your production process.
With this NetSuite module, you'll be able to easily define assembly items, create work orders, build complex multi-level bill of materials (BOMs), record assembly builds, and backflush components.
NetSuite's work orders and assemblies module includes:
- Integrate manufacturing and financials. View how manufacturing is impacting company financials in real-time. NetSuite connects your production process to financials and inventory, so all of your reporting is in one place.
- Discrete manufacturing capabilities. Whether you're a small-scale operation or a multinational company, NetSuite supports virtually any kind of discrete manufacturing option you want to incorporate.
- Full control over the floor. Regulate exactly how you want items created. From employee time to materials and machines used. You can walk the floor, providing instant feedback and visual warnings to employee workstations so no one misses a beat.
NetSuite Advanced Manufacturing
Boost profits and cut costs with NetSuite's Advanced Manufacturing module. There are a lot of manufacturers out there using disconnected systems, which can be harmful to their business!
Instead, replace a disjointed mess of programs with one integrated cloud solution. It will help you: Reduce manufacturing costs
- Reduce operating cost
- Increase profits
- Better manage your supply chain
- Streamline production and resource utilization
This module is great for advanced manufacturing companies. With advanced planning and scheduling, you can organize your shop floor, boost production capacity, and optimize resource utilization to give you a stronger bottom line at the end of the day.
Are You Ready to Streamline Your Manufacturing?
Whether you have an existing NetSuite setup or are looking to start from ground zero with a brand new NetSuite implementation, we can help!
Contact us to set up a FREE consultation! We can lay out exactly how NetSuite can help you improve your manufacturing process and profits.