Netsuite ERP serves businesses of all sizes and various industries including manufacturing, retail, e-commerce and more. Its key features are financial planning, supply chain management and order management among others.
Predict Clientele Demand
The forecasting module allows you to cipher and estimate clientele demand based on historical demand, open opportunities and manual or imported sales estimates. The tool employs moving average, linear regression, or seasonal average calculations to generate forecasts after reviewing weekly or monthly reviews.
Varying Planning Modes
Netsuite ERP has several modes of planning. First, there’s material requirements planning. The demand planning tool permits you to explore BOMs, monitor check inventory and safety stock levels, evaluate demand and study your supply before you create orders. You can also generate planned orders and implement multi-location planning.
Next, this solution has a capacity planning accessory. This module assures the accurate availability of goods with the advanced scheduling engine. You can utilize multiple constraints, schedule sequencing codes and receive immediate updates from the manufacturing execution system (MES) or an information network that connects, monitors and supervises complex manufacturing.
Lastly, there’s financial planning. The planning and budgeting component assists in company-wide and department finance planning. It employs a calculation engine to house a variety of business logic with an in-memory congregation, financial programming and analysis. The main tasks it handles are simplifying capital expenditure (CapEx) planning, instantaneously assigning indirect expenses and predicting future results with a dashboard.
Full Transparency of Production
You have full visibility of your entire production processes such as sales order, work order processing, routing and scheduling, order fulfillment and product costing. The module’s lot tracking and quality control functions determine batch sizes and develop batch records. You can also predict demand based on historical demand, open opportunities and manually entered or imported sales forecasts.
Up-to-Date Supply Chain Management
The supply chain management accessory advocates inventory fulfillment and cost from the factory to the store with inbound-outbound management, distribution management, warehousing, inventory management and other supply chain capabilities. You always receive up-to-date snapshots of your key supplier, inventory and procurement indicators. This module also allocates self-service capabilities for partners and cooperation with vendors and customers across the supply network.
Other Noteworthy Tools
Netsuite ERP comes with other mentionable modules.
- Watch Warehouses: You can manage distribution operations with user-defined strategies and abilities including wave management, cartonization (reviewing contents of an order i.e., the number or size of each shipping carton needed for an order), cycle count planning, immediate inventory updates and shipping system integrations.
- Prompt Analytics: The real-time reporting and analytics accessory constructs reports, monitors the latest reports and recognizes problems for you to carry out the correct actions.
- Access Based on Roles: This solution’s accessibility differs based on an employee’s position or role in your manufacturing plant.
- Ensure Compliance: The compliance tool allows you to comply with multiple standards, practices and government regulations such as the international financial reporting standards (IFRS) and generally accepted accounting principles (GAAP).
- Monitor Closes: This accessory enables you to simplify the financial close procedure by implementing period locking to avoid incorrect postings in future periods, extending checklists of tasks to complete and offering financial alterations for intercompany transactions, foreign currency revaluation and inventory.
- View Company Spending: You gain visibility on company spending and vendor performance when this component displays automatic information with the procurement component.
- Management System: The order and billing management accessory offers a robust price management system to guarantee immediate price updates to customers throughout all channels.
- Execute Bookkeeping: The accounting and finance feature offers full visibility on receivables and payables with order-to-cash and procure-to-pay (i.e., sales orders, bills, requisitions, purchase orders and invoices).
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A preview of Netsuite ERP’s thorough dashboard.