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. Studies show that approximately 80% of companies with highly efficient and well-performing supply chains achieve business growth rates that surpass the industry average. 

This achievement is unsurprising. A well-optimized supply chain enables businesses to promptly address customer needs, maintain clear visibility of vendor relationships, and capitalize on market trends in a structured and efficient manner. 

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

Here are key ERP technologies utilized for 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, lacking accurate location tracking, delivery times, landed costs, and encountering unforeseen dilemmas along 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 level of efficiency is no longer a distant goal. 

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 efficiently manage their finances, expenditures, and orders, leading to a significant improvement in cash flow. This improvement is supported by 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, utilizing predictive analytics to determine the exact time and length for completing end-to-end supply chain processes. This ultimately reduces risks and increases long-term revenue. 

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