Shorten DSO and Improve Cash Flow With Distribution Industry Enhancements
NetSuite ERP Software Distribution 2020 Release 2 adds important enhancements to warehouse management, supply planning, quality management, and eCommerce. The recent upheaval in consumer demand and supply chain uncertainty has forced distributors to make investments in integrated eCommerce tools.
Now more than ever, it's imperative to have robust business logic, automation, and visibility in order to be able to compete. As many distributors suddenly find themselves with excess inventory, automation will be more important than ever. Here’s how NetSuite 2020 Release 2 helps wholesale distributors deal with the chaos of uncertainty.
Shorten DSO and Improve Cash Flow
By grouping multiple invoices into a single invoice that’s delivered to your customer, you can accept payments at the group level which are then automatically applied to individual invoices. This improves cash flow by decreasing days sales outstanding because you reduce or eliminate manual grouping and get more accurate invoices.
Warehouse Management
You can now receive, transfer, or pick goods from a location without bins with NetSuite WMS, including single- and multi-order at warehouses. For small warehouses, you can still still use hand-held scanners without having to manage and maintain bins.
Top Notch B2B Commerce
With an improved form and flexible approval workflows, the new SuiteCommerce Sign Up extension lets you easily manage the registration and approvals of new buyers from your eCommerce store. Once the form is submitted, the new potential buyer is an “unapproved” state until your admin approves them, which lets them see your wholesale pricing.
You can quickly analyze item performance and trends by category to easily identify new opportunities with the new Merchandise Hierarchy Workbook. Examine items, inventory, sales, and fulfillment data with customizable, pre-built reports and KPIs.
Supply Chain Autonomy
NetSuite’s new material requirements planning (MRP) is available to customers who are using NetSuite Demand Planning. It has been completely re-architected, and now features a dedicated planning repository. Now, your planners will base their decisions real-time and consistent information. They'll be able to easily monitor, firm up or release orders for approval and aggregation. The system enables them to review and accept action/exception messages individually or in bulk.
With the planning workbench, you can slice and dice your NetSuite data by product line, plan, location, user-defined item categories or groups. Insights shed light on areas that require attention, which means you'll avoid both shortages and excess supplies. Easily conduct what-if analysis for simulating multiple scenarios.
Quality Management
The Quality Management SuiteApp enhancements include the new ability to trigger inspections from advanced manufacturing production results. Your location- and customer-specific inspections can be triggered from item fulfillments separated by shipping status. Improved functionality now allows high-volume sampling and CSV import of inspection results.
Learn more about how manufacturing companies like yours are seeing tremendous results after implementing the NetSuite manufacturing KPIs with the guidance of the experts at Oasis Solutions.