Wholesalers are quick, unpredictable, and have fast delivery in the face of supply chain disruptions, labor shortages, and growing expectations from retail customers. Wholesale distributors need efficiency, insights, and control over their operations to drive sales and enhance their business, and to attain success in their growth.
Digitizing the customer experience makes business more important, as well as simplifying efficiency and operations through technology. Check the latest NetSuite 2021 Release 2 enhancements that provide more benefits to wholesale distributors.
Frictionless Inventory Management
• For efficient and accurate control of the speed of inventory flow, the new release introduced a “lot numbering feature”. Once the lot number format for the item is fixed, workers can create lot numbers automatically. In addition, it enables the creation of new custom fields including supplier lot number, manufacturing date, and other details.
• NetSuite Warehouse Management System (WMS) provides a new feature to help employees quickly ship a pallet from a mobile device. It makes the shipment process cost-effective by holding a pallet until it’s full and enables employees to pack multiple orders to the same destination.
Autonomous Supply Chain
• Addition of a new feature displaying planning results on a daily, weekly, or monthly basis in the Supply Planning Workspace. This allows the more dynamic prediction to move strategies on the fly. NetSuite now allows the planner to avoid previously rejected recommendations to reduce the confusion of making predictions, and also controls how far back the planning engine can look for past dues.
• Planners can more accurately offer items with a new feature that gives the first date when an item is available in stock and available anywhere. Available early date calculations take into account supply chain lead time, any distribution allocation strategies, and even sales channel allocations and reservations. Finally, when redeploying orders, planners see in-depth insight into how those changes will affect allocations in other transactions.
• NetSuite generates analytics certificates for any item in the system automatically with templates and it is customizable based on the custom requirements of the end-user.
Unified Customer Experiences
• NetSuite enables SuiteCommerce site setup in one click and notifies the administrator after the completion of the setup process. The installation runs in the background and saves the time of users.
• NetSuite Connectors for integrations to e-commerce platforms, POS systems, and marketplaces.
Smart Financials and Operational Automation
• In the Accounting Preferences tab, users can choose whether the changes made to the COG or asset account need to reflect in future transactions entering the system with a new priority settable. It stores data of past transactions and reports accurately.
• Email Invoices is a new payment link feature that allows customers to use a link to an online payment portal, which allows them to pay for their invoices by credit or debit card. NetSuite records that invoices are fully or partially paid.
• Organizations can now enable their customers to pay invoices via ACH Electronic Payment via SuiteCommerce. This eliminates the processing fee of card payments and makes the payments quickly and easily.
Do you want to streamline your business? Implement NetSuite and fully automate your business process. Jobin & Jismi is an Oracle NetSuite alliance partner. Contact us for more information.