NetSuite Inventory Management

Real-time visibility

Real-time, company-wide inventory visibility — across warehouses, retail stores, pop-up shops, drop shippers, 3PLs or any other place where you manage or stock inventory — is key to enabling a buy anywhere, fulfill anywhere customer experience.

Multi-location fulfillment

NetSuite Inventory Management gives you the ability to predefine fulfillment rules to eliminate multiple shipments for a single order and avoid excess shipping charges.

With visibility into stock across all locations, you can proactively monitor stock levels and sell through, transferring inventory between locations as necessary to ensure inventory availability and minimize obsolete inventory. Sales associates are empowered to save potential lost sales in out-of-stock situations with enterprise-wide inventory availability that allows them to transfer, hold or ship items directly to the customer.

Replenishment

Fluctuations in demand, seasonality, supply chain logistics and a product’s natural life cycle must be accounted for to ensure sufficient stock on hand. Using demand-based replenishment, NetSuite Inventory Management uses historical and seasonal sales data, average lead time and number of inventory days’ of supply to dynamically manage item reorder points and maintain preferred stock levels. NetSuite automatically generates tasks and alerts and sends them to the purchasing manager.

Cycle counting

Comply with accounting standards like ASC 606 and IFRS 15 and report financial results in a timely manner. Simplify the complexities of evolving revenue recognition mandates, no matter if a sale encompasses a single performance obligation, a series of obligations spanning a time period or diverse obligations in a bundle.

Traceability

NetSuite Inventory Management lets you back and forward trace inventory using lot and serial tracing. Lot-numbered items track the quantity and specific cost for each lot as products are purchased and produced. Serializing inventory allows you to choose a specific item when you fulfill an order. Together, lot and serial numbers let you define fulfillment strategies (such as first expiring, first out) , minimizing waste and ensuring inventory is used in the most efficient way.

Item visibility

The Item 360 Dashboard brings together all relevant information related to an item in a single, centralized location. By putting all the information a user could need on any item in one place inventory planning and management become easier to do. Item 360 goes beyond the basics to show information like user-selected KPls, inventory count by location and projected stock levels, with alerts for anticipated shortages or overstocks.