Predicting Future Inventory Requirement With NetSuite
Among our clients is a retailer dealing with surfboards. The retailer takes orders from customers and delivers the goods accordingly at different time periods. The delivery depends on the availability of the materials.
They wanted our experts to develop a system that can predict the future stock availability. They insisted that it should be based on the emerging requirements and estimated sales.
To foresee the future stock requirements, the customer needs to do measurements and forecasting. They have to do this with regard to the difference between unfulfilled sales and unreceived purchase orders.
They also wanted to improve customer experience by eliminating delayed deliveries and errors in distribution.
Challenges
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.
One of the challenges was creating a custom solution inside NetSuite inventory management. This had to evaluate the difference between unfulfilled sales and unreceived purchase orders. Classification of sales and purchase order data and its processing was a major challenge.
Our team of experts analyzed the request and proposed scalable solutions to achieve results.
Solution
Our professionals checked the best chances of success in creating a custom page. This would find the differences between unfulfilled sales orders and unreceived purchase orders.
We set the purchase order period-wise as per the updates from the sales order reciprocity. We did this to check if the item was available for the date of delivery. The retailer creates a timely purchase order to get the required stock for prompt delivery.
Output
The custom page segment helps to analyze the difference between unfulfilled sales orders and unreceived purchase orders. This NetSuite customization resulted in the following benefits:
- Understanding the backorders
- Delivering inventories on time
- Forecasting the available stock for the future period
- Cross checking and creating sales and purchase orders on time.
Transformation
This game-changing project is already helping our clients to foresee future requirements in the market.
With this custom page, our customer got a customized view of sales and purchase orders. They can now accurately predict the stock by analyzing the available data on sales and purchase orders. Our expertise in Netsuite customization helped achieve success.
