19 Apr, 2023

NetSuite ERP Drives Productivity for Food Container Manufacturers

NetSuite ERP is a powerful and comprehensive solution for food container manufacturers who are looking to streamline their operations, improve efficiency, and increase profitability. With NetSuite, food container manufacturers can gain real-time visibility into their entire operation, from procurement to production to distribution, and make informed decisions based on accurate, up-to-date information. 

One of the key benefits of NetSuite for food container manufacturers is the ability to manage their supply chain more effectively. With NetSuite, manufacturers can track inventory levels, monitor supplier performance, and optimize procurement processes to ensure that they always have the raw materials and supplies they need to meet demand. This can help reduce waste and improve efficiency, ultimately leading to lower costs and higher profits. 

The food packaging and container market is expected to reach $400 billion by 2025, and packaging is gradually becoming as vital as the food itself. With growing inflation and volatile trading conditions, it is critical for businesses to have visibility and accuracy across their whole company in order to flourish. Manufacturers and distributors continue to prioritize flexibility and visibility as they confront greater competition from suppliers, customers, and marketplaces that leverage technology. Manufacturers and distributors of rigid, flexible, glass, and corrugated packaging face increasing issues and are turning to Oracle NetSuite ERP to handle them.  

Companies are innovative more quickly than ever before in order to foresee customer expectations, align processes, prepare for potential disruptions, and have a real-time perspective of the business in order to make better planning decisions. 

Benefits of Implementing a Cloud-Based ERP System for Food Container Manufacturers 

Customers are paying more attention to food packaging and requesting that producers adopt more organic container materials. According to a recent global study, 61% of US customers consider sustainability when making purchasing decisions. Indeed, one-third of consumers are willing to pay a premium for sustainable products, and packaging is an important consideration in the food and beverage purchasing process. 

Food Container manufacturers are responding by developing new, eco-friendly options, even as the sector- which is expected to reach nearly $229 billion in global sales by the end of 2030-grapples with new ISO and FDA compliance requirements, emerging food regulations, and a client base whose preferences shift on the fly. 

It is difficult to address these shifts while sustaining growth and targeted profitability. It might be especially tough for firms stifled by poor business technology. 

NetSuite Makes a Difference for Manufacturers in 5 Ways 

The following are five reasons why food container producers should think about NetSuite: 

1. Increase in Demand for Food Containers, Particularly Sustainable Ones

Manufacturers who increase their production capacity to satisfy this demand will be rewarded with new business, emphasizing the importance of superior operations management solutions. More demand for packaged food products; the requirement for extended food shelf life, which may be increased with the correct food containers; and growing interest in eco-friendly packaging solutions such as bamboo food containers and paper or reusable straws are driving expansion in this industry. 

2. Impractical to Run a Big Manufacturing Company on Spreadsheets and Outdated Software

Older business systems, some of which date back 10, 20, or even 30 years, are incapable of meeting today's corporate requirements. Many manufacturers use spreadsheets and other apps to move data between different systems in order to acquire a better understanding and control over their operations. This method is time-consuming, laborious, and prone to errors, and it can limit a company's capacity to detect and respond to issues and opportunities. 

3. Businesses Must Update Their Technologies

Initially, the maintenance fees and IT resources required to keep these systems running are too expensive. Second, depending on the software version, the manufacturer reserves the right to discontinue support at any moment. Third, older on-premises systems frequently do not satisfy all the needs of a developing manufacturer. 

4. NetSuite Updates are Simple, Uniform, and Reliable 

Food container producers who use NetSuite receive automatic software updates twice a year and have access to a dependable, professional support network that is always ready to help. These bi-annual upgrades have no effect on software customization. This is a significant advantage over on-premises software, where upgrading to a new version of the program may necessitate complete reimplementation or costly code adjustments in order to retain customization. 

Manufacturers may also be concerned about their present systems' outmoded features and poor user experience. NetSuite alleviates these concerns by delivering consistent, predictable upgrades twice a year, as well as behind-the-scenes maintenance changes as needed. 

5. Supply Chain Management is Becoming Increasingly Difficult

Food container producers, like other manufacturers, are dealing with workforce shortages, persistent supply chain problems, and growing business costs. They are very concerned with quality, so every step-from receiving raw materials through the manufacturing process to fulfilling client orders-is meticulously checked. Lot numbers and serialization are used by these producers to trace the containers that contain food for human consumption.

Don't Fall Behind 

Food container companies that use third-party manufacturers gain visibility into outsourcing expenses at the item level for each contractor throughout the whole build process when they implement NetSuite. Container firms can generate purchase orders automatically for each step of the outsourced engagement and collect the appropriate cost for each purchase order. 

NetSuite Advantages for Packaging and Container Businesses 

NetSuite is the industry standard for inventory and order management, ecommerce, financials, and CRM. NetSuite gives Packaging & Container distributors and manufacturers real-time, multi-channel visibility from components to completed items. NetSuite also offers powerful tools for managing production processes, such as production scheduling and tracking, quality control, and shop floor management. With these tools, food container manufacturers can optimize production workflows, ensure product quality and consistency, and minimize downtime and waste. 

NetSuite's cloud-based ERP software provides numerous advantages to rapidly developing businesses, including: 

Improved Efficiency: NetSuite streamlines and automates tedious processes and data entry, giving staff more time to focus on higher-level responsibilities. 

Real-time Data: NetSuite gives packaging and container firms real-time visibility into crucial business information, allowing them to make informed decisions fast and adapt toward demand. 

Improved Customer Relationship Management: NetSuite software has complete CRM capabilities, allowing packaging and container companies to better manage their customer contacts. 

Better Inventory Management: NetSuite delivers the business data required for real-time inventory management. Improve visibility by tracking inventory levels, ordering new items, and minimizing out-of-stock threats. 

Simple Financial Management: With NetSuite, the process of accounting becomes automated, simplifying the generation of reports, financial management, and cost tracking across the organization. 

Better Supply Chain Management: For the purpose of improving the efficiency of packaging and packaging company operations, NetSuite offers a thorough picture of the supply chain. 

As the food industry evolves, firms that serve it require powerful business management solutions to help them adapt and respond. Manufacturers who use cloud-based ERP packages such as NetSuite are best positioned to capitalize on new prospects. Those who continue to use outdated systems and spreadsheets may experience hurdles and may be left behind. 

NetSuite provides powerful financial management tools, including accounts payable and receivable, general ledger, and financial reporting. This can help food container manufacturers gain greater visibility into their financial performance, improve cash flow management, and make more informed decisions about investments and growth opportunities. 

Overall, NetSuite ERP is an ideal solution for food container manufacturers looking to optimize their operations and increase profitability. Its comprehensive features and advanced functionality can help manufacturers achieve greater efficiency, reduce costs, and drive growth in an increasingly competitive market. 

NetSuite ERP equips businesses with the necessary tools to enhance their operations, increase productivity, and grow their enterprise. Do you want to learn more about NetSuite? Contact Jobin & Jismi the Oracle NetSuite Solution Provider. Improve your Packaging & Container business with NetSuite today and take advantage of a free product tour!