Most businesses, including furniture retailers, have seen changes in the business, economy, and customer preferences over the past few years. More furniture stores are investing in Enterprise Resource Planning (ERP) solutions because of the rise of online shopping and the desire for more customization and modular furniture designs.
Marking the Switch
Brown Furniture of West Lebanon, N.H., established in 1940 has confronted many challenges over eight decades. The establishment of a new business management software is the only solution found by owner Brad Nelson when he obtained the furniture dealership in 2018.
Till then the company was using an older, industry-specific software solution to manage expenditure, inventory management, product alterations (e.g. textile, finish and nail heads for the furniture) and other business operations. Nelson was resolved to use NetSuite, a solution he previously knew and relied on not just to oversee his current operations but also to accelerate Brown Furniture's expansion, after completing an extensive study into the ERP industry. They had already realized the benefits of NetSuite before a year since its introduction.
Displaying variable price points as they vary
Brown Furniture is required to create particular price tags which display the manufacturer’s suggested retail price along with the product’s current sales price. Therefore NetSuite is customized in a way that permits the company to add a new value in a field, which is a huge benefit according to Nelson.
Consolidating Purchase Orders
Brown Furniture can easily analyze all outstanding PO’s that have not been placed yet and categorize them into a single PO and then set down a bulk order with the vendor. As the transportation costs increase day by day this helps the company in the procurement process and reserve on freight.
Attracting customers and selling more products
With the implementation of NetSuite, Brown Furniture has unique identifiers for each item that it acquires and sells. By using NetSuite, salespeople can precisely recognize the contemporary style trends. According to Nelson, the implementation of NetSuite helps in creating reports, determination on fabrics, and revising the showroom floor to display what the customers buy the most. This boosts people’s attention and admiration for the pieces they have and increases sales.
Standardizing accounting and finance processes
The faster month-end close process of NetSuite takes at most three days to complete while earlier it took almost ten days and the systems standardized financial structure and rules which turns out to be the most beneficial feature of NetSuite according to Nelson.
Are you planning to implement NetSuite for your business operations, Jobin & Jismi can help you with your concerns.