Optimizing Business Operations – Save Time & Money with Netsuite Advanced Inventory

• Automate the management of reorder points. The reorder point is the minimum product quantity that must be present before ordering more products.
• It gives real-time alerts of when the stock is falling short of the preferred stock level to avoid delays.
• Inventory counts and stock maintenance to avoid stock-outs of any items.

Inventory Control

• Lot Management:

Advanced Inventory allows tracking of all the items in each lot from production to purchase. The quantity of items in a lot is also recorded. You get notified when your lot is nearing the expiry. You can sell that stock before it expires not to lose the money. Using the Search functionality of the module you can access the history of any lot.

• Landed Cost:

Landed cost is the total cost required to transport a product to the sellers’ warehouse excluding the cost of goods. The Landed Cost feature of Advanced Inventory can record the charges such as customs, freight, shipping, duty costs, and factor those into product pricing. It helps in accurately calculating the profits.

• Matrix Item Management:
  • With this feature, you can create SKU – Stock Keeping Units of all the products of various styles, colors, sizes, and other characteristics.
  • It reduces the time to filter through all the items for a salesperson. You can improve customer experience by allowing them to choose from an easy dropdown menu that has a combination of options. Matrix item management can simplify the pricing and inventory status of matrix items.
• Serialized Inventory:
  • Assigning serial numbers to each item, sorting of inventory to have control over purchases and sales.
  • It gives the total understanding of the initial location of the item from start, in transit, and endpoint. It also tracks the costs of each serial number to track and optimize inventory costs.
• Bin Management:
  • This feature helps in managing and organizing the warehouse in terms of bins.
  • Bin management enables tracking of the exact location of inventory at warehouses. This helps in faster order management and delivery.
  • It also helps to systematize restocking. You can generate the knock off the items list of stock.
  • Multi-location Inventory features allow the use of different bins to store one item or one bin to store different items. Bin Management can manage single or multiple warehouses.
  • NetSuite Advanced Inventory helps in printing bar codes with transaction numbers on a sales order, packing, invoices. It also allows scanning bar codes on products.

• Supervise supply chain operations such as inventory counting, dispatch list.
• Counting the stock on regular basis to automatically calculate the quantity of available items at any time and any location
• Allocating cost according to weight, value, or quantity
• Real-time Visibility of all individual inventory across locations and channel

• Governs the entire process of goods from purchase to sale. Monitor and improve performance with a single real-time dashboard view of items
• Inventory Tracking at multiple locations
• Makes sure you always have an accurate number of the right products at right time at the right location
• Reduce the risk of both – unavailability of items as well as a large inventory holding cost by
• Simplified inventory management saving money, time, and a headache!
• Reduce the cost of extra and obsolete inventory
• Automatic calculation of safety stock and alerts you once stock falls under that level
• Easy product traceability in case of product recalls
• Provides sales data to forecast sales
• Real-time tracking
• Alerts of low stocks, timely inventory counting gives an idea of the available quantity of items at any location, this eliminates the possibility of stock out, increasing customer satisfaction.