4 Ways NetSuite Solves Manufacturing Inventory Management Challenges

See what life is like with NetSuite for Manufacturing, helping you tame the most complex manufacturing inventory management challenges.

When you stop to think about the number of factors in flux that could prevent your customer from receiving their order on time, they are innumerable. While you can't control all the variables, it's important to control the ones you can. Manufacturing inventory management is ripe with opportunities to potentially delay a shipment. Here are some common challenges that may sound familiar and what life looks like after Netsuite for Manufacturing is implemented.

Challenge #1 - Order Management Weaknesses

Before:
It may be obvious, but you don't want to sell what you can't deliver. How many problems does it cause when you can't prevent the overselling of products, or you run out of inventory to fulfill orders? Backordered inventory delays production and creates poor customer experiences. In most cases where this challenge exists, the teams are not using historical and seasonal data trends to help accurately predict customer demand.

After:
Inventory management software such as NetSuite for Manufacturing allows you to easily set automatic reorder thresholds based on preset stock levels and current availability. And there won't be any more stockouts because NetSuite intelligently monitors your entire supply chain to keep your manufacturing team running smoothly.

Challenge #2 - Unpredictability at the Source

Before:
Many companies are still reeling from the disruption and increased competition of their supply chain. We witnessed how vulnerable our globalized supply chains can be and how they're impacted by unpredictable economic shifts and market forces. Some businesses even have to prioritize between competing for high-demand materials or holding enough inventory to control costs; a tricky balance even during steady times.

After:
NetSuite enables intelligent maintenance of safety stock. Intelligent automation offsets supply chain disruptions and absorbs increased lead times caused by shifting competition for raw materials. Your safety stock levels are determined by data, not gut feelings.

Challenge #3 - Unpredictability of Demand

Before:
While keeping too little could leave you unable to fulfill customer orders on time, keeping too much inventory on hand has a bad habit of resulting in obsolete inventory you’re unable to sell at all. The costs associated with overloaded inventory start to add up when you factor in the space to store it, expired raw materials, or the advent of new regulations that require you to change materials or packaging.

After:
Demand forecasting should be considered when you are looking for a new solution. With NetSuite for Manufacturing, your accounting and sales data is integrated which helps you predict demand and schedule orders based on shifting customer preferences, material availability, or seasonal trends.

Challenge #4 - Maximizing Warehouse Space

Before:
Speaking of efficiently managing your warehouse space, it's intimidating to think about the complexity you face. Manually trying to plan and design warehouse spaces without inventory management platforms makes it hard or impossible to control the timing of new stock deliveries. What happens if you run out of space when a delivery arrives?

After:
Inventory management systems such as NetSuite for Manufacturing have warehouse management features on board that help you optimize storage space and inventory flow. NetSuite enables you to categorize inventory storage down to the shelf/bin/compartment, automates your order picking, packing, and shipping workflows, so your team can fulfill faster and more accurately.

NetSuite for Manufacturing

The thought of automating manufacturing inventory management can be a daunting task, but you can trust the experts at Blytheco to guide you to success. As a 5-star NetSuite partner, Blytheco is here to help you transform your manufacturing business with NetSuite. 

Why Work with Blytheco