As the first cloud ERP, NetSuite has had a lot of time to build, expand, and push the market forward. A solution trusted by businesses in the retail, distribution, and manufacturing space for decades, NetSuite has continued to deliver stability, innovation, and efficiency.
Following our last blog introducing readers to the updates coming soon to NetSuite 2021 Release 1 in their first of two 2021 releases, we would today like to explore how certain industry players serve to gain from these improvements.
From inventory enhancements built to help retail, wholesale distribution, and manufacturing firms, supply planning improvements, or functionality added to help services firms, NetSuite has added a lot. Here are just some of the things users should be on the lookout for in the coming release:
NetSuite Product-Based Business Improvements
For wholesale distributors and manufacturers to thrive, everything needs to flow. Speed and accuracy are pivotal to competition in the modern era, and NetSuite is working hard to provide the visibility and automation needed to make this happen.
Building features focused on increased accuracy and speed for inventory and warehouse management processes, out-of-the-box metrics to measure progress and spot problems, and functionality to simplify invoicing and payment processes that ensure cash flow, NetSuite is putting the following in place:
NetSuite Pack Station: User-Friendly Solution to Boost Packing Accuracy
Reduce the time spent finding items and preparing them for shipment. Designed to make life easy for warehouse employees, the NetSuite Pack Station provides a simple touchscreen interface to boost packing accuracy and speed. Packers scan a pick carton, sales order or select from a list of staged orders, and can easily verify each item in the packing process and identify items with the same shipping routes.
Created for increased packer efficiency, this makes it easier to accurately pack multiple cartons at the same time and reduce shipping costs and time to ship. Integration with weight scales allow packers to scan weights directly from scales, to avoid errors from manual entry.
Warehouse Management Solution Expands to Prioritize Picking Waves
Following the introduction of the Warehouse Management System, NetSuite has continued to expand it. In the newest release, WMS gains the ability to automatically create picking waves and organize by delivery times, delivery address, shipment numbers and more.
Better Allocation Reduces Waste
Delivering on your promises matters. If your salesperson promises availability, you sure need to have it. Now, you can easily allocate items to a purchase order. Sometimes you receive new shipments that expire earlier and need to get rid of them. NetSuite has expanded the product to allow for allocation of orders by channel as well as against a blanket PO and by FEFO (first expiry, first out) rules.
Autonomous Supply Planning
Facilitate your supply planning and make the most of your day. In 2021 Release 1, NetSuite has added functionality built to automate supply planning by allowing the planner to designate criteria to repeat the planning process at a specific interval. Pair this with an optimized scheduling process to reduce the strain that this resource intensive process puts on your processing, and you can increase efficiency and do more.
For manufacturers, enhancements to the Supply Planning Workbench now allow for date-based views so the planner can review the planning results for an item and location by period to uncover trends. There’s also a new sorting parameter called “high impact late demand threshold” that triggers a color-coded alert directly in the Supply Planning Workbench whenever late demand exceeds demand thresholds established by the company.
For Retailers, new functionality in Autonomous Supply Planning includes information on inbound shipments, blanket POs and allocated demand to give planners better visibility into supply as well as quantities available across multiple locations.
Whether you’re a retailer running a storefront or introducing distribution or manufacturing ecommerce, giving your customers ease of access matters. Introduced to the Commerce product, customers can easily reorder previously ordered items by viewing a MyAccount purchase history. The update also provides a personalized, simplified customer experience (CX) for repeat orders of the same item based on the shopper’s profile.
Get to Know NetSuite: Constant Improvement and Consistent Delivery
NetSuite continues to put its users in a better position with each new release. From the aforementioned enhancements to the general ones discussed last week, the company is making life easier for all those involved.
Learn even more by reading NetSuite’s breakdown of each industry-focused improvement—Manufacturing, Wholesale Distributors, Retail, Software, Services, and Nonprofit by clicking your industry or stay tuned for our blog on this by subscribing to the MIBAR mailing list.
Get to Know More About NetSuite
Another big release for NetSuite users, these enhancements are going to help you do your job more effectively and stay ahead of the competition. Looking to learn even more? Get to know more about this product by contacting us for a free consultation or register for a NetSuite demo.