For the year 2021, Retailers are going to focus on 3 key areas— Acceleration, Flexible Approach, and Comprehension. By leveraging the elemental capabilities of NetSuite 2021 Release 1 Retail Planning, retailers can have success to one’s name across all the verticals efficiently.
It offers key technology enhancements lined up at augmenting supply planning capabilities and rendering requisite accuracy to increase customer loyalty as well.
NetSuite Retail Planning for 2021 is all about
- Commerce Enhancement
With the implementation of this enhancement, retail enterprises can come across a significant change. Their customers can re-order previously ordered products without a hassle. Based on the shopper’s file, this inventive solution would offer a customized and simplified customer experience for repeat orders of the same item as well.
- Autonomous Inventory Management
It is embedded with new ‘Scan and Check functionality’ to enhance packing efficiency and multiply its accuracy. With NetSuite 2021 Release 1 Retail Planning, businesses can witness consolidated shipments for the same location, multi-level packing capability, and accommodation of the packing of multiple cartons at the same time. It enables retailers to analyze KPIs around fill rate, first expiry, First-In First-Out, the best location recommendations to ensure accurate order fulfillment and exceed ever-challenging customers’ demands without a hitch.
- Rapid Supply Planning
By deploying this inventively engineered cloud-native solution, retail enterprises can gain greater visibility into supply and quantities across multiple locations with information available on inbound shipments, blanket POs and allocated demand. Moreover, its advanced supply planning capabilities allow date-based views into expected demand and inventory transactions to help retailers make better decisions be future ready as well.
- Financial Automation
By leveraging the core capabilities of NetSuite 2021 Release 1, you can witness automatic transfer of purchases made on a single Purchase Order for multiple subsidiaries to the intended subsidiary without a hassle. You can experience extensive automation across generating statutory invoices and bills, returns, and credits. Moreover, its new expense commitments and budget validation functionality verifies purchase requests and orders against an organization’s available budget, too.
Driven by the touch-less experience in 2020 and considering Retail in 2021, experts believe a substantial surge the adoption of e-payments that will continue and go beyond. Additionally, retailers will continue to come across many more significant changes across supply chains, right from procurement to sourcing to lead times.
The world’s retail scenario will evolve and it’s high time to be ready to keep pace with both predictable and unpredictable experimentation. Although a robust cloud computing like NetSuite is highly scalable to streamline your business operations across Retail, a solution provider partner would assist you in executing your business vision and steer unmatched scalability.
Being a certified NetSuite Partner in India with global reach, inoday believes in rendering uncompromised solutions and help potential enterprises ascertain business continuity with our exemplary services.
inoday is always committed to progress and innovation.