Cut Costs with Modern ERP Software for Manufacturing

Cut Costs on the Factory Floor and More with ERP Software for Manufacturing

Manufacturing automation continues to be a concern and written about frequently. Largely, the topic is centered on reducing costs, creating efficiency, and reducing manual tasks on the factory floor that are typically repetitive and non-value-add when compared to the salary it would cost.

Did you know that as the finance leader, you can realize similar benefits by streamlining or eliminating repetitive, manual tasks by automating similarly manual, repetitive accounting and finance processes? As you think about your ideal solution, remember that modern ERP software for manufacturing that's integrated with accounting saves money in the long run. 

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NetSuite Manufacturing Grows With You

NetSuite's comprehensive functionality has been built specifically to enable manufacturers of all sizes to reduce operating costs, increase their revenue, and increase controls by better managing their business and supply chain processes overall.

No More Wrangling Data from Different Systems

Whether your company is a discrete or batch/process manufacturer, you inevitably have several systems containing the financial and operational data you need to get your job done. How many systems do you have to access to consolidate payroll, inventory, shipping, and orders to get the data you need for billing, month-end close, and reporting?

If you're like many teams, you struggle to generate timely, accurate financial statements. Increasing pressure from senior leaders and investors to get them done quickly is in direct conflict with accounting's duty to ensure accuracy.

NetSuite Advanced Manufacturing is the solution to this challenge. It's an integrated cloud solution that replaces the disconnected systems you're struggling with today and is built to be your single source of truth. NetSuite Advanced Manufacturing is built on native NetSuite ERP, ensuring that your manufacturing processes are connected to financial reports, inventory management, and outstanding orders synch in real-time. No more double data entry or tedious data imports.

Streamlined Warehouse Management Saves Time

How many hours a month could you save in your warehouse if you knew exactly where every item was located, right to the exact bin and location? Your inventory can be set up to provide multi-location tracking and real-time visibility for your inventory system. If an item needs to be quickly located, an employee simply looks up the item ID in NetSuite and they can find it quickly. When an item is moved or shipped, it is scanned again, which automatically updates inventory.

Tracking is automated using Radio Frequency Identification (RFID). Items, their bins, and the section of the warehouse where they are stored are all assigned a barcode. Using an RFID scanner, the item and location code are automatically entered in the system and tracked as inventory. The hours you save will translate into big payroll savings because the warehouse teams won't be forced to spend their time hunting for misplaced items.

Increased Satisfaction Reduces Your Customer Acquisition Costs

Even before the pandemic turned up the pressure, savvy shoppers now demand up-to-the-minute details about their order and have access to it from their preferred device. What was once a nice-to-have as a consumer has now become a must-have, and companies that don't offer this level of instant and real-time order fulfillment data today will struggle to provide this level of visibility manually without automation.

Successful manufacturers streamline their order fulfillment by implementing automated order processing and scheduling the release of product orders. As these items are packed, labeled, shipped, and subsequently have arrived, each step of the process is managed in your cloud-based ERP system. In the case of NetSuite, this central hub of data and information about orders and statuses enables you to automate and expand the availability of order updates and notifications, resulting in happier customers. When customers are happier, they generally stay longer, are less price-sensitive, and are more likely to recommend you to others, which is typically the cheapest way to gain new customers.