13 Jul, 2022

How NetSuite Assist Companies Win the Market?

Nowadays, smart businesses are strengthening their relationships with their clients, partners, and workers because they recognize that these resources are limited and in great demand. These businesses are also handling the present supply chain volatility, localizing their operations and coming up with creative approaches to recruit and keep new employees.   

NetSuite enables businesses to utilize ERP to operate more efficiently, streamline their procedures, and differentiate themselves in a crowded market. Many businesses opt for NetSuite to change their existing systems because NetSuite includes crucial features like demand planning, real-time inventory visibility, customizable reporting, and key performance indicator (KPI) tracking. Everything can be included with simple tools without the need for IT developers. 

NetSuite also assists businesses, 

1. Handle supply chain turmoil: Supply chains throughout the world continue to be severely hampered by port congestion, container shortages, and continuous logistics delays. Companies of all sizes are being negatively impacted by these facts, which makes it more challenging than ever to manage spreadsheets, different software programs, and email interactions. For instance, when all production, distribution, and logistics data is housed across several spreadsheets, computers, and devices, supply chain visibility is practically hard to achieve. The same business may more easily maintain inventory, provide precise projections, and anticipate future demand while working from a cloud-based ERP. Additionally, it has the ability to anticipate interruptions and take the appropriate response.  

2. Utilize the tendency toward localization: Companies are experimenting with more "purchase it where you produce it" and "create it where you sell it" methods as part of a bigger localization movement, which is mostly being pushed by the Internet. Along with reducing susceptibility and shortening corporate supply chains, this also satisfies consumer demand for more locally sourced and manufactured items. Businesses may build up their local networks, identify new suppliers and cooperate with them, and monitor their end-to-end supply chains by using cloud ERP. They can create a robust online presence using NetSuite's Suite Commerce platform that not only meets consumer demand for localization but also provides an online buying experience akin to that of a much bigger e-tailer (e.g., Amazon, Walmart, or Wayfair).  

3. Maintain strict supplier compliance standards: Working with major retailers requires manufacturers and distributors to abide by the guidelines set by those clients. For example, in late 2020, Walmart issued a note to its distributors warning them that if they did not finish 98% of the orders exactly at the scheduled time and completely by the beginning of 2021, they would be subject to a 3% charge. Companies that use spreadsheets, phone calls, and various programs to run their operations find it challenging to comply with these very strict regulations. That business now has all the reporting tools required to give accurate and timely data to its significant retail clients thanks to the implementation of NetSuite. 

4. Recruit and Retain Employees: When it comes to recruiting, employing, and retaining people, NetSuite also aids businesses in leveling the playing field. Companies want tools and solutions that their colleagues desire to utilize, given that the present labor crisis is not anticipated to end anytime soon. Particularly younger hires anticipate being able to use their understanding of the most recent platforms of technology in their jobs. They also require technology that is adaptive and versatile without requiring extensive customization to add the latest report to their dashboards or an extra field to a form. NetSuite supports the remote work trend and is obtainable anytime from everywhere in the world through the cloud.

Companies are searching for adaptable and scalable solutions for managing inventories, producing actual reporting, and reducing expenses as they continue to modify their business administration software and detach from spreadsheets. Additionally, they prefer the robust business intelligence (BI) and customer relationship management (CRM) solutions that come with NetSuite.  

Ready to streamline your business operations with NetSuite? Touch base with Jobin & Jismi for any NetSuite-related enquiries.