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Importance of NetSuite Inventory Management for Business Growth

inoday 1820 Views 0

Every business is an amalgamation of different processes that needs to be consistently maintained to keep up to customers’ expectations. Since efficiency matters the most in every business, business owners seek to achieve it through every aspect. Providing accurate information about product availability and supplying them within scheduled duration adds up to your market credibility. One of the difficult parts of businesses is keeping the track of every input about a product including procurement, order, shipment and delivery. In any business, inventory management cannot be done entirely manually and you need a computer-based inventory software system.

NetSuite ERP is one such business management software that can manage your entire business single-handedly. The main objective to use an inventory management system is to be able to overcome the issues of delays and wastage and reduce costs, while keeping the customers satisfied.

Advantages of NetSuite Inventory Management System

 # You get complete order management, service management, asset tracking and product identification. It also gives you constant updates about the inventory, as the goods keep moving from one place to another.

 # You are able to start inventory accurately in financial reports and meet product availability and ROI goals.

# You can unify all business processes across the enterprise and using an integrated platform, you are able to automate key business functions across sales & marketing, finance, inventory, purchasing, order fulfillment and all other departments.

# Sales persons can have real-time visibility into inventory and can set customers’ expectations for delivery on appropriate time.

# It gives real-time inventory access that’s useful for your distribution partners, which further helps them in understanding how long it will take products to reach to the customers.

# Multi-location inventory assists in keeping accurate record of inventory, that helps in transferring it between locations with complete control and ease.

# NetSuite inventory management also helps in keeping demand based inventory with smart inventory replacement, so as to have enough material to fulfill orders, but don’t keep excessive stock than the minimum.

Inventory management is largely about knowing what your warehouse comprises and where your stock is located. In order to not run out of goods and ensure you can meet the demands, you shall opt for Oracle NetSuite and integrate the system with your back-office systems. NetSuite consultants from dependable names like inoday provide end-to-end NetSuite consulting services to overcome consistent inventory issues and emerge a trusted entrepreneur in the marketplace. With our NetSuite consulting, you get integrated solution that’s flexible, real-time, reconcilable, transparent to users and scalable.