Impact of NetSuite on Manufacturing Inventory Management Challenges

There are countless variables that could come into play and make it so that your customer's order is not delivered on schedule. Even if there are certain factors beyond your control, it's still critical to manage the ones you can. There are plenty of chances for manufacturing inventory management to possibly cause a shipment delay. Here are some frequent difficulties that may sound familiar and what life looks like when NetSuite for Manufacturing is introduced. 

Challenge 1 - Order Management Weaknesses  

Before:  

It may be simple, but you don't want to sell what you can't deliver. How many problems does it cause when you can't avoid the overselling of products, or you run out of inventory to fulfill orders? Production is delayed, and consumer satisfaction suffers from backordered items. In most cases when this difficulty arises, the teams are not using historical and seasonal data trends to help precisely estimate client demand. 

After:  

Inventory management software such as NetSuite for Manufacturing allows you to simply create automated reorder criteria based on preset stock levels and current availability. And there won't be any more stockouts since NetSuite intelligently monitors your whole supply chain to keep your production team functioning smoothly. 

Challenge 2: Uncertainty at the Point of Origin  

Before:  

Many organizations are still reeling from the disruption and increasing competition of their supply chain. We experienced how insecure our globalized supply chains can be and how they're impacted by unanticipated economic swings and market factors. Some organizations may have to select between vying for high-demand goods or retaining adequate inventory to reduce expenses; a tough balance even during solid times. 

After: 

NetSuite makes smart safety stock maintenance possible. Sensible automation absorbs longer lead times brought on by fluctuating raw material prices and balances out supply chain interruptions. Your safety stock levels are decided by data, not gut feelings. 

Challenge 3: Demand Unpredictability  

Before:  

Having too much inventory on hand has the unfortunate tendency to result in outdated inventory that you are unable to sell at all, while having too little inventory could prevent you from being able to fulfill client requests on time. When you consider the space needed to store it, the cost of replacing materials or packaging due to new requirements, or the possibility of expired raw materials, the expenses of having an excess of inventory begin to mount. 

After:  

When searching for a fresh approach, demand forecasting must be considered. Your financial and sales data are integrated with NetSuite for Manufacturing, allowing you to arrange orders and forecast demand based on changing consumer preferences, material availability, and seasonal patterns. 

Challenge 4: Maximizing Warehouse Space Previously 

Before: 

When it comes to effectively managing your warehouse space, the level of complexity you encounter can be frightening. Controlling the time of new stock deliveries becomes difficult or impossible when trying to plan and construct warehouse facilities manually without the help of inventory management solutions. What occurs if a package arrives, and you are out of space? 

After: 

After: You can maximize storage space and inventory movement by utilizing the warehouse management tools built into inventory management systems like NetSuite for Manufacturing. With NetSuite, your team can complete orders more quickly and precisely by automating order picking, packing, and shipping processes down to the shelf, bin, or compartment.  

NetSuite for Manufacturing : Why Work With OpenTeQ? 

Although automating factory inventory management may seem like an intimidating task, you can rely on the OpenTeQ Technologies to successfully assist you through the process. OpenTeQ is a Certified NetSuite partner that is ready to assist you in using NetSuite to revolutionize your manufacturing company. From small-scale operations to large enterprises, NetSuite ERP for Manufacturers enhances productivity and drives growth in the competitive manufacturing landscape. NetSuite, a comprehensive ERP software, offers tailored solutions for manufacturing companies, streamlining processes from production to management. With NetSuite for Manufacturing, businesses gain efficient ERP tools for inventory management, supply chain optimization, and production planning. 

Discover what it's like to manage even the most difficult manufacturing inventory management problems using NetSuite for Manufacturing. OpenTeQ is committed to using a proactive NetSuite ERP software process to transform businesses. With the use of business technologies, we assist our clients in achieving efficiency, automation, and quantifiable outcomes, thereby boosting performance and profitability. Our team has over 5,000 clients nationally and is enthusiastic about transforming businesses. Allow our staff to assist you in determining the advantages of new CRM and ERP software for your business. OpenTeQ Group’s NetSuite Solutions for Manufacturing include specialized portals, empowering manufacturers with real-time insights and collaboration capabilities.   

Let's get started with a business process and system review.   

Contact OpenTeQ today at +91 7032254999 / +1-602 806 4634, email at info@openteqgroup.com.Our team would love to hear about your needs and talk to you about how we can help improve your business processes! 

 

 

 

 

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