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NetSuite for Manufacturing: Maximizing Your Business Potential
Understanding the benefits of NetSuite ERP software for manufacturing businesses
A smooth inventory, ordering, and supply chain process is the foundation of a successful manufacturing business. And ERP software is a great solution to make these processes efficient and more productive. NetSuite ERP Software for manufacturing helps companies manage all these processes in one place with complete visibility.
NetSuite ERP software for manufacturing addresses the following challenges for your business:
- The NetSuite ERP platform makes your demand forecasts accurate and aligned with client expectations.
- It automates your stock checking process, saving your business from shortages, excess, calculation errors, and losses.
- The ERP software transforms every step of your manufacturing process – the input of raw materials, processing, and the output of finished products.
- It monitors every lead and customizes the targeting based on persona, needs, and preferences to convert them to customers.
- It helps you handle the shop floor with a smooth order and inventory management that streamlines order fulfillment.
- NetSuite ERP software gives you a complete view of your inventory status, order fulfillment stage, financials, accounts, supply chain, and customers’ data to aid decision-making.
- It improves customer services, case management capabilities, returns and exchanges, and employee training.
- The ERP platform provides a complete view of your financials and accounts and generates analytics and insightful reports.
- It also aids in the quality management of products through inspections and real-time monitoring.
All these benefits of NetSuite ERP software for manufacturing are possible through its several modules. The modules take care of every aspect of your business, driving scalability and more revenues. With these ERP modules, you are all set to face the challenges in your path of growth and expansion.
This article will explore each of these modules to facilitate your decision to buy NetSuite ERP software.
NetSuite for Manufacturing Modules to Maximizing Your Business Potential
Order and inventory management
The order and inventory management module automates your process of entering orders and fulfilling them. It allows you to forecast demand and predict the number of orders. The NetSuite ERP software streamlines the conversion of orders to shipments, thereby generating revenues.
It simplifies pricing calculations with already-inputted data on item costs, shipping charges, and other expenses. It facilitates order pickup, packing, shipment, and final receipt to the customer/shop. More features include:
- The tools for tracking in multiple locations, several units of measure, RFID, barcoding, biometrics, etc., make the calculation and tracking of stocks more manageable and ensure accuracy.
- You can track your shipment status with the help of the integration of NetSuite ERP software with major shipping firms. It gives you the flexibility to check the rates and print labels.
- NetSuite ERP software lets you manage multi-level assemblies by linking them with work orders.
- You can set lead times to maintain item stocks and inventory valuation.
- NetSuite ERP software also allows you to categorize the inventory in the warehouse into different bins to speed up the order fulfillment process.
- Your customers can generate the return forms by themselves to make the return process simpler, faster, and less confusing.
- Company-wide data visibility on dashboards in real-time helps you with decision-making, tackling uncertain situations, and improving customer service.
All these features of NetSuite ERP software let you deliver the perfect order to your customers every time. Your customers are guaranteed a consistent experience at every touchpoint. And you can avoid duplication or missing order entries with well-defined workflows.
Supply Chain Management
NetSuite ERP software controls and monitors the supply chain effectively. It makes goods and raw materials flow efficiently and smoothly to facilitate better customer service. Because of this ERP platform, you can respond to demand with better production and ensure timely supply to customers.
The solution ensures accurate forecasting of product demand and the need for raw materials for production. Thus, manufacturers can improve their demand-supply management with the right timing and number of materials.
With an improved demand prediction, you save warehouse space from excess inventory, thereby saving costs. Also, you are never short of stock, but enough to serve the demand, leading to happy customers.
NetSuite ERP system makes it easy for you to trace shipments and deliveries to customers. Every step of the product lifecycle, from production to delivery, is tracked to ensure efficiencies. Since the generation of shipping records and documents is managed online, you get a guarantee of accuracy.
Shop Floor Control
Your manufacturing operations may go erratic if not planned properly. Also, even if you plan, there are times when some uncertain events or external forces disturb the flow. That is why it is critical to have complete visibility of your manufacturing operations.
NetSuite ERP software brings visibility to your business so that you can capture data of all your operations. By gathering all information, you know when something goes wrong and can correct it before it impacts your processes. You know your manufacturing processes’ what, how, when, where, and why, keeping you ahead at every instance.
Such data capturing enables tracking the status of your activities – production, supply of raw materials, work in progress, ordering, shipping, and delivery. You get real-time updates of past, in progress, and future steps of the manufacturing process, as and when needed. Thus, you can manage the entire manufacturing cycle and optimize it to improve efficiency.
Customer Relationship Management
NetSuite ERP software’s CRM module automates the complete customer lifecycle to elevate their experience. With this module, you can understand your customers’ needs better and more comprehensively. It results in more customized marketing campaigns and improved customer services.
- With a shared data repository across all departments and all store locations, you get a comprehensive, real-time view of customers.
- NetSuite ERP software also enables complete visibility to your partners and resellers to allow them to manage transactions and allow you to measure their performance effectively.
- The platform creates personalized campaigns for different customer groups and measures their revenues, costs, and ROI in real time.
- The ERP software manages the complete customer lifecycle, starting from lead generation to order and finally receiving payment from customers. The integration of NetSuite CRM with the back-office processes makes this possible.
- Automating customer relationships gives you opportunities to upsell, cross-sell, and support customers at every step.
- Your customers have self-service customer centers to access data on orders, invoices, complaints, etc.
- NetSuite ERP software lets you track commissions and incentives, leading to fewer errors and timely payments.
All these features improve your view of activities for managing customer relationships. It improves your shop floor operations. Also, it enhances your engagement with customers at every touchpoint through all possible channels.
Planning and Scheduling
The right balance of supply and demand is what a manufacturer desires in its facility. This balance is achievable through properly planning demand, scheduling, and quality of raw materials and stocks. Such adequate planning and scheduling help you deliver products to the customers at the right time.
For this, NetSuite ERP software has the manufacturing requirements planning feature based on industry-specific algorithms and rules. Based on these rules, you can identify the requirements of materials, safety stock needs, and other supplies. The calendaring option on the NetSuite ERP software helps you schedule inventories.
You also need to understand the changing customer demand patterns to ensure stock is available every time customers order. NetSuite ERP software makes it possible through demand planning from historical sales order management. Thus, you can respond to customers’ demands effectively and on time, with no errors.
Procurement
You can move away from your manual procurement processes and adopt automated processes with NetSuite ERP software. The procurement module gives you more control over the process, reduces costs, and saves time. The module’s tools make you an intelligent spender with real-time visibility of your purchasing process.
- The NetSuite ERP platform sends you an alert when inventory reaches a re-order level; you pre-define the levels. The software automatically generates purchase orders for you to review and email vendors.
- Even your vendors have a self-service vendor portal to access partnership-relevant information, such as invoices, purchase orders, etc.
- The payment process is automatic on the NetSuite ERP software with ready invoice templates, matching with orders, verification, and release.
- Even your warehouse is connected to the system to receive updates on orders given to suppliers, confirm material receipts, and apprise customer orders.
Thus, your purchasing process becomes smoother, smarter, and faster. You also get complete visibility of the procedures to ensure you get the materials when needed.
Quality Management
The NetSuite ERP software can improve a manufacturing company’s inspection and quality check processes. You can set up a quality control plan, make internal rules, track them, and manage the quality for better results. This module uses data from the shared repository and analyzes the product quality.
The module allows you to define the success/failure criteria for quality testing. The product is automatically tested at each step of the manufacturing process, and results are generated. If passed, products are moved ahead; if failed, they are sent to the rejection section.
All these testing criteria and results are available on the central, shared data repository. Everyone authorized can access the results and generate reports for more insights. You can approve result access by job roles, such as access to quality data of raw materials, production, finished goods, in-process goods, and processes.
Thus, the quality management module reduces your quality checking costs and improves the efficiency of this process. You can guarantee quality to your customers, leading to customer retention and loyalty. Customer satisfaction improves, and business profitability increases.
Financial and Accounting Management
The financial module of the NetSuite ERP software manages your costing and accounting efficiently. You can use different costing methods to maintain your cost elements, thereby helping you track the total manufacturing cost. The integration with back-office operations allows real-time tracking and report generation.
You can handle accounts payable, accounts receivable, bill payments, general ledgers, etc., with the help of the accounting module. You can also generate expense reports, financial statements, and payment workflows through the NetSuite ERP solution. With the management of payroll, benefits, commissions, etc., on this platform, your costs reduce, and employee management improves.
The financial module enables financial consolidation of all your factories or subsidiaries or different manufacturing units. Thus, you can generate business intelligence separately and on a company level.
The result of NetSuite ERP software manufacturing modules: Efficient operations
All these modules for manufacturing help you manage your manufacturing operations with ease. It is a complete business solution that gives you control over your processes and facilitates collaboration between departments. Also, NetSuite ERP software supports multiple languages, currencies, manufacturing sites, and locations to handle your global operations.
With interactive dashboards providing insights on orders, leads, expenses, inventory, complaints, transactions, etc., you get real-time visibility of your business. You can draw comparisons, set alerts, generate ad-hoc reports, and drill down to details on these dashboards.
The best quality of NetSuite ERP software is its flexibility to customize it according to your needs. The platform has a customization toolkit that allows you to personalize it as per your business requirements or integrate it with other third-party applications.
Cloudiotech - Your business partner for NetSuite ERP software
You can avail all these benefits by contacting a leading implementation partner of NetSuite ERP software. Cloudiotech is a top-tier provider of NetSuite ERP solutions in the UAE and the US. Our cost-effective cloud ERP services improve your scalability and productivity.
We provide Best NetSuite customization, implementation, integration, and NetSuite training services to our clients. Our clients are small and big businesses belonging to different industries in different geographical locations. We keep your processes in sync and streamline your operations with effective NetSuite solutions.
Our NetSuite ERP services support your growth story.
So, grab a phone and call us to explore our services.
