20 Apr, 2022

How NetSuite ERP Helps in Supply Chain Management?

Supply Chain is the key process in wholesale, distribution, retail and manufacturing-based businesses. 80% of the firms whose supply chain is efficient and high performing are able to attain business growth greater than their industry average.  

The reasons for that are not hard to find, using a proper supply chain your business will be capable of providing immediate solutions to the customers, have a clear understanding of the vendors, and can explore the market trends in a more structured and efficient manner. 

But how can the supply chain operations be streamlined and optimized? 

Top ERP technologies used in supply chain automation, 

1. Single Comprehensive System for Real-time Update  

The major challenge a supply chain management system confronts is the shortage of information and lack of supervision. Through the conventional approach wholesalers and retailers have no idea about their shipment, have no knowledge about its accurate location and are unaware of the delivery time and dilemmas on the way. 

Oracle NetSuite rectifies this and sparks a revolution in supply chain automation. 

NetSuite delivers real-time information and notifications on the flow of products, as well as inventory status, outstanding/pending orders, and incoming shipments, through a single, complete, data-driven system. 

As a result, the management is better equipped to organize product procurements and inventory management in a systematized way and assist them to make better business decisions. 

2. Increased Profitability 

Using well-organized and optimized supply chain processes, the producers, wholesalers, and retailers can make sure of better profitability and increased revenues.  

Once management has access to real-time supply chain insights and data, they can confidently determine their next step, knowing which items are in need, which items will take longer to deliver, as well as which items they must send right away in order to generate more profits. 

With totally automated supply chain processes through Oracle NetSuite, this is no longer a dream.  

3. Improved Cash Flow 

A cash flow gap occurs when an organization is unaware of the present status and location of shipping items, as well as the supply chain for their orders.  

As Oracle NetSuite simplifies and automates the whole Supply Chain process, this defect is efficiently eliminated.   

Producers, wholesalers, and distributors can already manage their finances, expenditures, and orders, and dramatically improve their cash flow, thanks to real-time updates and information about logistics, inventory status, and outstanding orders. 

4. Fewer Risks, More Revenues  

Companies use Oracle NetSuite's sophisticated supply chain technology to use predictive analytics to determine the exact time and length for completing end-to-end supply chain processes. This results in fewer risks and more revenue on a long-term basis. 

Connect with Jobin & Jismi for powerful and comprehensive supply chain management using Oracle NetSuite.