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Staria » Bloggaus

How is NetSuite a complete business solution for your manufacturing company?

BloggausFor companies in the manufacturing industry, especially rapidly growing ones, buying the right business management system is key to scaling their business to the next level. Keep reading to learn more about why NetSuite is the best choice for companies in the manufacturing industry.

NetSuite’s cloud-based ERP system offers a complete business solution for manufacturing companies, enabling organizations to run their operations efficiently at any scale. From customer relationship management, order processing, sales forecasting and supply chain planning through multi-location inventory and warehouse management, all the way to work order processing, production planning, quality control, accounting, reporting and financial consolidation, NetSuite has all the components required for a complete future proof ERP system.

NetSuite benefits for manufacturing companies

NetSuite helps manufacturers:

  • Eliminate the use of error-prone spreadsheets
  • Reduce time to market of new products
  • Improve order processing efficiency
  • Closely monitor and control costing
  • Deliver products at accurately kept quality standards
  • Reduce IT-related costs
  • Speed up the financial close process
  • Improve support and services productivity
  • Gain controls critical for compliance activities
  • Gain a real-time holistic view of the entire business as well as for each individual process/department/subsidiary

This results in improved operational efficiency, increased profit margin, clear and precise controls, compliance, increased speed to market, and faster time to value.

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Five NetSuite key functionalities for manufacturing companies

1. CRM & Order management

Customer relationship management allows manufacturers to set up and automate their sales force across various sales channels and geographies while having a real-time view on sales pipeline, forecasts, quota achievements and the quotation process. Sales orders are automatically transitioned for fulfillment to the warehouse and logistics, while invoices are formed and accounts receivable tracked automatically. NetSuite provides real-time visibility into the whole process with information on orders, trends, and order conversion rates. Price lists, discounts, and campaigns can be time-controlled and applied to a certain assortment, for certain customer divisions, regions, countries or completely unique to the customer. Stock reservation and backordering is also automated.

2. Supply chain

NetSuite provides real-time, detailed visibility into key spend, inventory and supply chain management metrics. Needs are visualized based on forecasts, inventory control, and orders, and can be chosen to present either as a request or to directly generate a purchase/production order. Requests, agreements, and built-in approval flows secure the supply chain orders along with document management.

NetSuite Material Requirements Planning allows to calculate future demand on finished goods based on historical data or sales forecasts, and use it to plan the purchase and production of components, sub assemblies and finished goods. Supply chain planning can also be applied to multi-location setup, enabling inventory transfers between warehouses ensuring that the needed goods are available in the right location, at the right time with minimal cost and risk of delay.

3. Quality control

Quality-related tasks can be scheduled, and the quality department notified when tasks emerge. Define inspection plans, statistical parameter support, acceptance criteria, and attestation flows to record real-time results. Manage locations for blocked/released goods, and batch and serial number managed items for traceability and subsequent service records.

4. Finance

NetSuite provides the finance department with customizable dashboards comprising data and metrics in real-time, excellent reporting functions and automated reports (income statement, balance sheet, consolidated reports, variance reports, side-by side comparisons), transaction drill-down possibilities, multiple account strings, consolidated accounting, and analytics. The risk for manual reporting errors is significantly reduced due to multiple automation tools.

5. Inventory and warehouse management

NetSuite provides continuous forecasts that follow market fluctuations along with an automated replenishment process between warehouses and companies. This allows manufacturing companies to keep an optimal inventory level and to avoid excess stock and stock shortages. Upcoming tasks related to picking, packing and delivery are visualized to allow for resource planning.

NetSuite Warehouse Management System (WMS) automates daily warehouse operations using industry-leading practices, such as RF barcode scanning with mobile devices, defined strategies for put-away and picking, task management, label printing, return authorization receipts and cycle count plans. NetSuite WMS eliminates manual processes, allowing manufacturers to minimize handling costs, run their warehouses more efficiently and consistently meet customer expectations.

Words from a manufacturing company user of NetSuite

Used by 33,000 companies worldwide, NetSuite is used by thousands of manufacturing companies to streamline and grow their businesses. Check out what our customer in the industry has to say about NetSuite:

Disruptive Technologies logo

Disruptive Technologies is a Norwegian technology company that develops and manufactures the world’s smallest commercial-grade wireless sensors. In 2017, they decided to implement an advanced ERP system for better logistics and subscription management and chose to go with NetSuite.

“We decided that NetSuite was the best choice for us. It’s a cloud-based ERP system that offers a lot of options. However, it’s also easy to use and effortless to integrate with other solutions. Together with Staria, we’ve built a cloud-to-cloud integration with our own system and NetSuite that makes it possible to very efficiently handle a large number of orders and subscriptions. We can pick a box of sensors from the shelf and ship it to a customer, and it will automatically get assigned to that customer in our own software.”

- Jørgen Tegdan, VP of Finance at Disruptive Technologies

>> READ DISRUPTIVE TECHNOLOGIES’ CUSTOMER STORY

Do you want to know more? Visit our page about NetSuite for manufacturing companies or get in touch with us!

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NetSuite-järjestelmäratkaisut. ERP-, BI-, talous- ja palkkapalvelumme tukevat kansainvälistä kasvua. Staria on Pohjoismaiden johtava NetSuite-kumppani.Menestyksemme perustuu ..
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