3 Oct, 2022

How NetSuite Benefits Food & Beverage Companies

Food and beverages is one of the world’s oldest and most dynamic industries. The advent of digital solutions has helped this industry embrace changes, including new ways of doing things. This shift involves a lot of skill.   

Currently, data is of utmost importance in the food and beverage industry. Using trends and information in the right way can actually transform the game. This industry now needs a solid ERP and a dynamic and flexible CRM. NetSuite Cloud ERP is essential for any business to succeed in the food and beverage industry. Quick access to dining services, groceries and online food ordering have become the new norm thanks to technology.  

Can your food and beverage business keep up with the latest buying trends and increased competition?   

According to ROI Revolution, online food and beverage sales will bring in $26.7 billion in revenue in 2020, more than double what they generated in 2019 before the epidemic started. More than three times as many groceries will be purchased online in 2022 than there were in 2019 before the outbreak. More than one in five supermarket sales by 2026 will be made online.    

In order to support expansion with a real-time, unified view of the business, food and beverage firms need a platform that offers flexibility, scalability, and enhanced capabilities.

1. Improved transparency is the first trend that will help to foster long-term growth and meet demand.

2. Embrace technology to improve visibility, intelligence, and commercial advantage. 

3. The third trend is to concentrate on omnichannel distribution and add B2C commerce to keep up with the modern consumer.  

4. Use cloud ERP technology to increase agility, scalability, and visibility.

More than 31,000 clients worldwide are transforming their organizations with NetSuite's advanced omnichannel cloud management software. 

The Best Option for Rapidly Expanding Food and Beverage Companies

Usually, small businesses opt for manual procedures and point solutions like QuickBooks for accounting. They even go for Excel spreadsheets to monitor recipes and inventories. For the rapidly expanding food and beverage industry, cloud technology offers options to expand. It also provides the flexibility to solve diverse manufacturing issues, and traceability needs.  

Cloud technology also offers ways to formulate B2B and B2C channel strategies and manage sophisticated supplier networks. All companies should use a cloud-based solution to keep up with the changing food and drink industry and succeed, say experts. 

A route to profitable, steady growth 

A single platform coordinates inventory management, pick-pack-ship process, and customer care. This is possible thanks to the seamless integration of NetSuite’s commerce platform with its cloud ERP platform.

Coda Coffee is one NetSuite client that has embraced the NetSuite platform for expansion. This Denver-based coffee roaster made the transition from QuickBooks to NetSuite in 2008 when it had only six employees. Today, it counts more than 45 personnel. It now has a store, a roasting facility, and a distribution center in Phoenix, USA, covering 2000 sq ft.  

Other leading food and beverage companies enjoying successful growth after employing NetSuite cloud ERP solution include CraftMark Bakery and International Spices. Every successful firm began with a dream and a positive attitude as its most valuable assets.  

Cloud computing solutions ensure that a company never compromises on its fundamental ideals. They also prevent the firm from succumbing to burdensome and expensive technology. Cloud technologies can help businesses grow sustainably, become well-known, and easily expand without limits. 

Features of NetSuite Food and Beverages 

Manage Orders:

It helps to accept orders confidently, provide correct goods, cost, and place to ensure quality service. It reduces inventory costs and speeds up the order-to-cash process. Integration of marketing, finances, order processing, costing and order tacking facilitates omnichannel operations.   

Supply Chain Management:

Increase efficiency, understand bottom line expenses, gain visibility into your supply chain, keep inventory across your entire company, and streamline operations. 

Sales Automation:

NetSuite provides a 360-degree omnichannel picture of customer and inventory information to fulfill orders. It also helps to increase efficiency, generate revenue, and engage with customers to give a fantastic shopping experience.  

CRM, advertising, and branding:  

There is real-time view of customer interaction, achievement, and rewards across all business channels to guarantee customer loyalty.

Strategy and Time Management: 

You can operate your company well to ensure optimum profit and client satisfaction. We also ensure maintaining the balance in resources, managing stock, and monitoring suppliers.  

Quality Assurance

Carry the best goods while incurring the fewest costs. To ensure good product quality, set up inspections, monitor results, and evaluate vendors in the market.

The raw materials used to manufacture food and beverages can be just as intricate as the industry itself. NetSuite enables businesses to manage the purchasing of food and equipment, as well as track their origins. The solution also takes care of the complicated financial systems needed to get products to people and businesses.    

As the number one cloud ERP on the market, you can use a single solution to bring all your business operations together. This will help you simplify operations and drive cashflow.  

Why NetSuite for Food & Beverage ERP?

The software is the top choice for managing orders, inventory, ecommerce, finances, and CRM in the food and beverage industry. It includes everything needed to operate a profitable company.  

Distributors and producers can strengthen their bottom lines by streamlining operations and expanding supply chains using NetSuite. 

Key characteristics:  

• Designed for food and beverages  

• Simplified sales cycle  

• Tracking and traceability of lots  

• Accounting and Finance  

• Order Control  

• Scheduling & Organizing  

• Warehouse Management System  

• Shop Floor Management 

• Quality Control  

4 reasons why food and beverage companies now require NetSuite more than ever: 

1. Demand Forecasting 

NetSuite has integrated features and functionalities that are tailor-made for this sector.    

The customized dashboards predict demand and notify management of the current needs. This relies on data from customer orders and trends.    

This gives the cooks greater authority and flexibility to satisfy their customers. And more business results from this.     

2. Advanced Supply Chain

To make sure deliveries are on time, you need a reliable system to follow the supply chain and trace your next order.    

NetSuite assists restaurants by providing personalized dashboards and reports to maintain efficient and timely supply chains. Delivery parties can track the situation and update clients on package arrival in real-time.    

The system's inventory management helps you track vendors and know when to order more raw materials.    

The software ensures that the operations are frictionless. 

3. More efficient sales cycle

NetSuite's sales process includes contact centers, websites, app-based markets, and in-house orders accessible to restaurants. This implies that you are in command of the orders regardless of their location or quantity.    

You can follow every step of the process as the system enters the orders in real-time. 

4. Manufacturing Supported on Business Intelligence

Production is the most crucial element in the food industry. Manufacturing food at the appropriate time is essential; otherwise, it becomes useless. Food production becomes easy with automation once you migrate to NetSuite. 

You may manage employee shifts, shorten changeover times, organize inventory (demand and supply ratio) properly, and do much more. Your effectiveness rate significantly increases, making success inevitable.

6 Ways to Enhance the Ability of NetSuite

1. Financial Consolidation

By integrating financial systems with software, it will become simpler to manage, automate, and monitor them. This applies to various entities in the supply chain, such as restaurants, suppliers, and growers. NetSuite can eliminate deficiencies caused by separate systems.

2. Cost-cutting through the use of smart data

The software assists food and beverage companies in collecting and analyzing extensive data. This helps them enhance customer service and increase profits. Exerts analyze the useful data yielded by such transactions to fine-tune marketing. It also lower the cost of commodities sold using using NetSuite (COGS).    

One can track the most economical vendor and shipping provider modifications by looking at this data in NetSuite.    

3. More Efficient Strategies for Handling Seasonal Peaks

Going overboard in sourcing and marketing is a danger. This happens when increased demand accompanies seasonal peaks. The software's historical data can examine the consequences of previous peak seasons to prepare for similar situations.    

NetSuite allows the food and beverage business to plan ahead in this way. Therefore, methodical and deliberate adjustments are possible.  

4. Avoiding Inaccurate Deliveries

When firms use cloud ERP solutions to handle fulfillment and delivery, they can reduce the chances of improper deliveries. It is possible because NetSuite unifies inventory, orders, and warehouse logistics data. Specifics concerning the supply of materials to a restaurant chain's satellite sites are all in one place. 

• Where each item is sourced and where it will end up 

• How and when it is delivered to shippers

5. Improving Asset Integration and Management 

Apart from inventory food and beverage industry professionals can handle equipment, tools, vehicles, refrigerated facilities, and more. Each asset has purchase and maintenance expenses. The experts can use the cloud solution to view these costs through a single window and analyze the data. They can also seek cost-cutting opportunities without compromising the quality of the final product or service. 

6. Raising the Standard of Food

There are many ways to increase the quality of food and beverages. They depend on distribution network patterns, the supplier market, and seasonal conditions.   

Companies can do this using NetSuite without raising costs mindlessly. For example, a food manufacturer might have been using an artificial component source for years. But the business is thinking about changing the ingredients to satisfy the demands of the healthy food industry.    

Utilize NetSuite for the Betterment of Food and Beverage Industry   

NetSuite helps decision-makers to easily analyze the overall cost of obtaining these ingredients and make changes. They can source the same ingredient from an organic supplier who is nearby. Or from one who has access to a less expensive shipping solution. This brings the cost of organic ingredients on par with or even below those of inorganic ones.   

Accounting, sales and stock control, demand planning and e-commerce are unified on a single platform enabling business heads to focus on expansion.     

NetSuite allows these firms to link vendors, production, consumers and inventories without hassles.  

The history of NetSuite’s collaboration with businesses in the food and beverage sector is extensive. NetSuite has merged this business experience into a food and beverage solution. It addresses specific difficulties faced by the sector. Contact NetSuite Solution Provider Jobin & Jismi for any queries.