So, you are running multiple warehouse locations and can’t achieve optimum visibility across them. NetSuite 2021 Release 2 allows distributors to perform tasks faster and easier, unlike its predecessor.
You get to enjoy unified and automated processes, making your operations more efficient and cost-effective. This solution also offers you optimum visibility regardless of the number of locations you have.
So, what are the NetSuite 2021 Release 2 features you can leverage to boost your distribution business?
1. Efficient Inventory Management
Finding a solution that will give you control of your inventory can be challenging. But thanks to NetSuite 2021 Release 2, it offers you tools and resources to manage it efficiently.
Perhaps you are wondering what makes the NetSuite 2021 Release 2 different from other systems. NetSuite optimizes inventory levels and ensures products are available in different channels. You can keep your costs low as you exceed your customers’ expectations.
With NetSuite inventory management, you plan according to demand through assessing history demand, seasonality, and sales forecast. It helps you provide the number of goods that are required.
This solution also facilitates an efficient and cost-effective approach, enabling you to boost your business profitability.
2. Optimized Inventory Visibility
Besides having accurate information, company-wide inventory visibility enhances your decision-making and planning. That’s why you need a solution that can give you a real-time view of inventory in different warehouse locations.
NetSuite optimizes inventory visibility across warehouses, retailers, 3PLS, drop shippers, and any place you manage, facilitating purchases anywhere. This helps you to fulfill your customers’ needs regardless of their physical location.
When your staff members are executing their roles, they know what is expected, and this enhances performance. It can also allow your employees to generate lot numbers automatically once you set one for an item.
If you’ve operated with papers and spreadsheets before, you know how inefficient and inaccurate they can be. But thanks to NetSuite, you can track inventory across all the locations by automating inventory management!
3. Enhanced Planning
Planning is key to the distribution business growth and that’s why you need a system to facilitate effective planning to ensure you are functioning optimally and increasing your ROI.
The NetSuite 2021 Release 2 provides you with an advanced option that enables the planner to provide you with planning results every day, week, and month. It facilitates dynamic forecasting for you to shift strategies on the go.
This software enables the exclusion of previously rejected recommendations, reducing confusion when creating the forecast. It also helps you to control the extent to which your planning engine will search for past, due, and unconsumed forecasts.
With the new allocation functionality, the planners can map and sequence inventory allocation to sales orders through revenue or gross profit. And they can accurately pledge items with the earliest date that they will be in stock or available in specific locations.
4. Enhanced Customer Experiences
Improving your customers’ experience will help you increase your customer base and revenue. But how can you accomplish this?
NetSuite 2021 Release 2 offers you enhancements that allow you to implement an ecommerce site faster and easier. Unlike the previous version, which took longer to set up, the new release does this in a single click.
The administrator gets a notification when the process is finalized. Consequently, you don’t need to spend much time setting up and monitoring how far the process has run.
If you plan to sell directly to your customers, these enhancements will help you operate smoothly, creating an exceptional experience that exceeds their expectations.
If you use third-party sales channels, the NetSuite Connector will help you coordinate them with integrations to 3PLS, marketplaces, ecommerce platforms, and POS systems.
5. Operational Automation
If you are searching for a solution to automate your operations, NetSuite 2021 Release 2, can help you accomplish this. It comes with new functionality that automatically synchronizes all subsidiaries’ purchase requisition. It also allows a subsidiary to receive the item regardless of who places the order or requisition.
So, what happens when you are dealing with two different entities? The new NetSuite release automatically cross-charges across.
You also get a new payment feature that allows you, as a distributor, to send your customers a link to the online payment portal. This helps them pay via credit or debit cards. And when there is partial or complete payment, this solution records the invoices accordingly.
Moreover, you can now facilitate your customers’ payment processes by ACH electronic payments through SuiteCommerce. This option allows faster payments without a credit card fee.
6. Multi-Location Fulfillment
Running multiple locations can be challenging, especially when shipping; you may get multiple shipping for a single order. NetSuite 2021 Release 2 helps you avoid this with its inventory management as it helps you redefine your shipment rules.
Something else, you can get optimum visibility in all your locations, allowing you to monitor and sell consistently. This helps you transfer inventory between your locations effectively.
If you encounter an out-of-stock situation, your associates can save sales that would have potentially been lost. They accomplish this through the enterprise inventory availability, which helps them transfer, hold, or send products directly to customers.
7. Certificate of Analysis
NetSuite offers a new feature that helps distributors demonstrate they’ve fulfilled their clients’ quality and compliance demands. This platform generates a certificate of analysis for any item in the system through templates customized to the client’s needs.
The good thing is that users can print it and attach it during shipment while saving an electronic copy for easy future retrieval.
Take Advantage of NetSuite 2021 Release 2 Features With MIBAR
The NetSuite 2021 Release 2 offers you numerous features and resources to simplify your company’s operation. That’s why MIBAR is ready to help you upgrade to facilitate the efficient operation of your business.
To stay on top of new NetSuite releases or to take advantage of new features, it’s important to have guidance from an expert NetSuite partner like MIBAR.
As a leading NetSuite partner, we’ve established a genuine methodology to help maximize every dollar of your ERP budget and ensure NetSuite is meeting your needs. We assist businesses just like yours to identify areas of risk and inefficiency, rescue implementations, assist with NetSuite enhancements and improvements, provide support, training, and much more. Learn more about our NetSuite support services.