How to Build a Robust Supply Chain with NetSuite 2020 Release 2
Import tariffs and restrictions due to COVID-19 have disrupted supply chains globally. Forced to reconsider their sourcing strategies, many manufacturers are now scrambling to partner with new suppliers or build more reliable downstream capabilities.
At the same time, suppliers are finding it increasingly difficult to forecast demand as the market evolves rapidly.
NetSuite’s 2020 Release 2 offers enhanced capabilities to help distributors and manufacturers overcome some of these challenges. The new functions are designed to increase efficiency and bring analytics into each business segment, allowing firms to become more agile and adaptive.
In this piece, we’ll shed light on three critical concerns that NetSuite’s new release addresses.
1. Autonomous Supply Chain
NetSuite customers who are currently using NetSuite Demand Planning can enjoy the perks of the new material requirements planning (MRP) function. Planners can now streamline the release order process, easily monitor changes, and determine how demand is allocated to supply.
The planning workbench is an excellent forecasting and simulation tool that allows users to slice through data based on user-defined categories. Additionally, it highlights problem areas, allowing companies to prevent both shortages and surplus supplies.
Finally, the Intelligent Predicted Risks mechanism now includes the ability to assess sales orders and risks if they aren’t fulfilled. This information can help users prioritize and determine how purchase orders need to be scheduled.
2. Quality Management
The Quality Management Suite App uses advanced results from manufacturing production to enable inspections. If the system detects discrepancies in areas like order fulfillment and shipping status, specific controls are triggered, allowing manufacturers to uncover problems before they become significant risks.
Additionally, NetSuite can now carry out high-volume sampling and import inspection results via CSV.
3. Warehouse Management
While previously, NetSuite WMS required specific bins to locate goods, the new release can accept, transfer, and pick up items inside a location without bins. Small warehouses and companies with retail outlets can now take advantage of the efficiency of hand-held picking without the costs of maintaining bins.
Choose a reliable NetSuite Consulting Partner.
To make the most of NetSuite’s vast capabilities, choose a reliable NetSuite implementation partner to help you. At Ravenstone Solutions, we offer a complete range of NetSuite services, including optimization, licensing, integration, training, support, and migration.
Get in touch with our NetSuite experts at 1(800) 459-7128.