What is Netsuite Inventory Management?
Industry Specialties: Serves all industries
NetSuite Inventory Management is a cloud-based organizational platform focused on stock optimization, manufacturing and purchasing. It works well with businesses of all sizes. Users who adopt it can streamline their operations and move products to the right place at the right time while cutting costs.
Users can also improve customer service by leveraging stock management and fulfillment capabilities. The variety of purchasing and management features provided can help users keep up with demand and create an efficient inventory space.
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Benefits and Insights
Why use Netsuite Inventory Management?
Key differentiators & advantages of Netsuite Inventory Management
- Cloud-Based Benefits: NetSuite Inventory Management is deployable as a cloud-based solution, which has many advantages compared to on-premise strategies. By leveraging the cloud, users can protect their important documents, access information from anywhere and keep the software up-to-date without downtime.
- Improved Accuracy: By leveraging NetSuite Inventory Management’s organizational features, users can create product spaces that complement their operations. Creating an accepted inventory layout can help increase fulfillment accuracy and product locating.
- Increased Customer Satisfaction: NetSuite Inventory Management can boost customer satisfaction through seamless procure-to-pay and accurate product tracking. Users can shorten fulfillment times, communicate and deliver on promises made to clients.
- Automate Tasks: This platform can take over some of the tedious manual tasks that go into inventory management. By freeing up valuable employee resources, users can spend more time on vital planning and forecasting tasks.
- Better Visibility: NetSuite Inventory Management allows users to drill-down into their daily inventory management processes to gain valuable data insights. Users can identify problem areas and plan ahead to keep problems to a minimum.
NetSuite Inventory Management is used by companies such as Williams-Sonoma and Lovesac, in addition to more than 18,000 other customers to aid in stock control operations.
- Cycle Counting: NetSuite Inventory Management gives users the tools to check in on their stock levels in real time. This ensures that safety stock levels are lessened and overhead costs are cut.
- Traceability: Inventory and other assembly items can be traced via lot or serial number to provide maximum visibility. NetSuite Inventory Management captures all important information related to transactions and displays it on an easy-to-access detail screen.
- Warehousing: NetSuite Inventory Management includes warehousing features that allow users to handle multi-location product tracking along with a hierarchical breakdown for physical warehouse locations. Users can define bins at these locations and gain a holistic view of all inventory levels.
- Replenishment: Users can maintain appropriate amounts of inventory by creating preferred stock levels and reordering points. Users can handle multi-location operations by leveraging this solution’s requirements planning features to help balance demand across multiple locations.
Some of the product limitations include:
- Order management isn’t provided as an integral feature, but can be brought in with other NetSuite products
- Limited knowledge and documentation support concerning API integration
- The UI isn’t as user-friendly as some other inventory management suites
- Does not support multi-channel or eCommerce sales. Users have to integrate third-party tools to enable this functionality
- Advanced inventory management features like pick-to-light and voice-picking aren’t available
mail_outlineEmail: NetSuite provides email support for both Basic and Premium support packages. Emailed questions will be answered as quickly as possible.
phonePhone: Toll-free phone support is available 24/7 after the purchase of a Premium support package.
schoolTraining: Users can leverage NetSuite Training Services to take informative courses, listen to webinars and access Cloud Learning Support.
local_offerTickets: Users can submit online cases through NetSuite Support with both Basic and Premium support packages. Inquiries are answered as quickly as possible.
Cost of Ownership
|License/Subscription Cost||Includes base monthly cost and per-user monthly cost|
|Maintenance Cost||A specialized in-house team is required to administer the software|
|Installation/Implementation Cost||This price is dependent on the costs associated with hiring an implementation or consulting partner|
|Customization Cost||This charge is extra and includes the cost for developing or enhancing an existing product feature or module|
|Data Migration Cost/Change Management/Upfront Switching Cost||Cost is dependent on current software, the amount of data being transferred, the complexity of the data fields, the level of automation and the data migration tools to be utilized|
|Recurring/Renewal Costs||Annual recurring fees are above and beyond the upfront cost for annual renewal, upgrades and ongoing support|
Netsuite Inventory Management Reviews
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