NetSuite Inventory Management

NetSuite Inventory Module helps businesses manage their entire inventory lifecycle, including order fulfilment and forecasting. With comprehensive warehousing management capabilities, businesses can maximise efficiency while ensuring the accuracy of their inventory records.

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Features of NetSuite Advanced Inventory Module

NetSuite's Advanced Inventory Module provides a comprehensive suite of features to help businesses effectively manage their inventory. By centralising your inventory and warehouse management functions, you can improve order fulfilment and accuracy, as well as reduce costs.

Automated Inventory Replenishment

This feature allows businesses to automate the replenishment of inventory from suppliers and warehouses based on predetermined thresholds and preferences. It also helps to ensure that you never run out of stock.

Order Fulfilment Tracking

NetSuite’s Advanced Inventory Module helps businesses to track orders and shipment information from start to finish. This includes order tracking, order packing, labelling and shipping process.

Warehousing Management

NetSuite’s Advanced Inventory Module helps businesses allocate warehouse space for products, assign storage locations for goods and manage inventory pick-lists for easy retrieval.

Forecasting

NetSuite’s Advanced Inventory Module allows businesses to forecast inventory demand based on past sales trends and customer preferences. This helps businesses prepare for future orders and manage their supply chain effectively.

Multi-location Inventory Ttracking

Track and manage multiple inventory locations and easily move items between them. Allocate items to specific warehouses or locations for accurate visibility and reporting.

Item Allocation

Manage item allocations between customers and locations, track quantity availability at each location, allocate items to sales orders, and check individual item serial numbers against stock levels automatically.

Bin Management

Bin management helps you keep a clear and organised view of inventory as it moves through the warehouse. You can easily locate items, keep track of stock counts, set expiration dates on products, and more.

Serialised Item Management

Manage serialised items at all levels, including serial number tracking and reporting, across multiple warehouses. Track serialised items by lot or individual numbers for complete control over stock levels.

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Benefits of NetSuite Inventory Module

Improved Order Fulfilment Rates

The Advanced Inventory Module from NetSuite streamlines order fulfilment and automates the inventory replenishment process, giving businesses a clear picture of item availability. By tracking orders and shipments more accurately, businesses can provide better customer service.

Automated Warehouse Management

NetSuite’s Advanced Inventory Module helps businesses to save time and money by automating the warehouse management process. This includes allocating warehouse space for products, assigning storage locations for goods and managing inventory pick-lists for easy retrieval.

Accurate Forecasting

Accurate forecasting is vital for any product focused company. NetSuite’s Advanced Inventory Module helps businesses to forecast inventory demand based on a wide range of intelligent data points. This helps businesses to prepare for future orders and manage their supply chain effectively, resulting in a more efficient, cost-effective inventory management process.

Enhanced Visibility

Visibility if your inventory across different locations is critical to your ongoing success. NetSuite's Advanced Inventory Module not only provides insight into inventory levels in multiple locations, but also allows businesses to be strategic with both their pricing and inventory.

Tighter Cost Management

One of the best ways to improve profitability is by reducing unnecessary costs. With NetSuite’s Advanced Inventory Module, businesses can gain better insights into the cost of goods sold and the landed costs associated with each product. This allows businesses to make smarter decisions when it comes to their inventory management process and pricing strategy.

Better Traceability

Product traceability is one of the biggest challenges for many companies. NetSuite’s Advanced Inventory Module helps businesses to keep track of serialised items, lot numbers and batches. This allows for improved traceability and control over the entire supply chain process, resulting in higher quality products and better customer service.

Transparent Planning

Transparency is the key to good decision making. With NetSuite’s Advanced Inventory Module, businesses can plan their inventory and supply chain processes more effectively. This includes improved purchasing decisions, more accurate forecasting and better planning for future demands.

Automated Compliance

Automation of quality control processes helps to improve compliance with industry regulations. NetSuite’s Advanced Inventory Module automates the entire compliance process, ensuring that businesses adhere to all regulatory standards while improving product quality and safety.

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PKF Digital are NetSuite experts with decades of experience in helping businesses get the most out of their NetSuite's inventory management functionality. Contact us today to learn more about how you can improve your inventory management capabilities with the world's leading cloud-based ERP, NetSuite.

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