Predicting Future Inventory Requirement With NetSuite
Our client is a retailer, selling surfboard. They take pre-orders from customers and delivers accordingly on different time periods with respect to the availability of stock. Hence, they requested to develop a system that can foresee the future stock availability based on the emerging requirements and estimated future sales.
The customer had to measure and forecast the difference between unfulfilled sales and unreceived purchase orders, so as to foresee the future stock requirements. The major objective of this need was to improve the existing customer experience by eliminating the chances of delayed deliveries and errors in distributing the orders to the customers.
As a primary step, we analyzed the customer requirements, to understand the best possibilities to meet it. Then we made a custom solution that the customer was expecting and solved the issue.
Our client is envisioning on designing a system which provides accurate information to forecast by forecasting available stock in the future and chances of meeting the expected customer requirements.
Our challenge was to create a custom solution inside NetSuite inventory management which can evaluate the difference between unfulfilled sales and unreceived purchase orders. The major challenge was that of sales and purchase order data classification and data processing. Expert knowledge of NetSuite inventory management was a necessity to complete this project. Our expert team analyzed the requests on a full swing and proposed scalable options for achieving the results.
At first, we built a strong relationship with our client and tried to understand their exact business process well enough. This is to prepare and propose a solution to match up with the vision of the organization and to check the best chance of success if we create a custom page to find the differences between unfulfilled sales orders and unreceived purchase orders. We have decided to set the purchase order in a period wise as per the updates received from the sales order reciprocity. This is to cross-check whether the item is available for the date of delivery. If not, the retailer can create a timely purchase order to get the required stock and deliver the same to customers on time.
By creating the custom page segment, the business receiving an actual view on the differences between unfulfilled sales orders and unreceived purchase orders. This NetSuite customization adding the following benefits to organizations:
- Understand the backorders
- Deliver inventories on time
- Forecasting the available stock for the future period
- Cross check and create sales and purchase orders on time.
This game-changing project is already helping our clients to foresee future requirements in the market.
By implementing this new custom page segment, our client will get a customized view of sales and purchase orders, and thus, they can predict the stock by analyzing the available data on sales and purchase orders. With our expertise on Netsuite customization helped us to achieve success.