Real-Time Visibility: Enhancing Decision-Making for Manufacturers with NetSuite

In the fast-paced world of modern business, real-time visibility is not just a buzzword; it’s a critical necessity. Organizations need to make informed decisions, enhance customer satisfaction, and optimize processes. NetSuite empowers businesses with real-time visibility across their entire operations. From sales and operations to production and invoicing, NetSuite provides a transparent view that enables efficient resource allocation and strategic decision-making.

Inventory Visibility: Knowing What You Have

What Is Inventory Visibility?

Inventory visibility refers to the real-time insight into inventory levels. It includes information about stock-on-hand by location, incoming and outgoing orders. Having this visibility helps businesses make informed decisions, prevent overstocking or understocking items, and streamline operations.

Why Is It Important?

Inventory visibility has several crucial benefits:

• Customer Satisfaction: When businesses and their customers know what products are in stock, where they are, and how much is available, it leads to better customer experiences.
• Fulfillment Efficiency: Tracking products throughout the supply chain, from production centers to warehouses to retail stores or during transit, ensures efficient fulfillment.
• Cost Reduction: By preventing stockouts and overstocks, businesses can control costs and meet customer demand effectively.

How Does NetSuite Provide Inventory Visibility?

NetSuite offers many features for real-time inventory tracking:

Real-Time Tracking Across Locations and Channels:

• NetSuite Advanced Inventory provides visibility of items across all company locations and sales channels.\
• Manufacturers can monitor inventory levels, order status, and sales throughout the entire inventory life cycle.
• Accurate data prevents stockouts or overstocks.

Matrix Item Management:

• NetSuite allows manufacturers to stock and sell similar products with variations (e.g., colors, sizes, styles) using matrix item management.
• Simplified SKU creation and pricing to streamline inventory management.

Landed Cost Allocation:

• NetSuite allocates landed costs (e.g., shipping, customs, handling fees) based on weight, value, or quantity.
• Accurate cost calculations provide better visibility into total inventory expenses.

Order Visibility: Keeping Customers Informed

What Is Order Visibility?

Order visibility refers to the ability to track and monitor orders throughout the entire process, from placement to fulfillment and delivery. It provides accurate and complete information, reducing cycle time and enhancing profitability and customer satisfaction.

Why Is It Important?

Order visibility offers significant advantages:

• Customer Service: Clear information on order status and delivery reduces customer inquiries and complaints.
• Cost Savings: Efficient order tracking minimizes operational costs.

How Does NetSuite Provide Order Visibility?

Real-Time Tracking Across the Order-to-Cash Process:

• NetSuite Sales Order Management automates the entire order-to-cash process, including receiving, approving, scheduling, fulfilling, tracking, and collecting payment for orders.
• Users can define rules for order processing, eliminating manual bottlenecks.
• Timely invoicing and payments are supported.

Improving Customer Satisfaction:

• Accurate order and customer data enable efficient invoicing and on-time delivery.
• NetSuite ensures order information accuracy, leading to better customer experiences.

Company-Wide Visibility:

• Real-time visibility across inventory, financial, and customer data improves quote accuracy, eliminates billing errors, and strengthens revenue recognition processes.
• NetSuite acts as a convergence point for different datasets, providing a holistic view of customer interactions, order status, inventory details, and shipment information.

NetSuite's real-time visibility capabilities serve as a powerful tool for businesses looking to optimize their decision-making processes. By providing a comprehensive view across all facets of operations, from inventory management to order fulfillment, NetSuite empowers organizations to make informed choices that drive efficiency and profitability. With accurate data at their fingertips, businesses can react swiftly to market changes, prevent costly errors, and ultimately enhance their overall performance. In a fast-paced business environment, having real-time visibility is not just a luxury; it's a strategic advantage that can make all the difference in achieving success.