Introduction to NetSuite 2024.2 for Manufacturing Efficiency

NetSuite 2024.2 offers manufacturing, distribution, and supply chain businesses in Australia and New Zealand new tools to improve efficiency, control costs, and optimise operations. The latest release introduces powerful SuiteApps and enhanced features designed to streamline processes, provide greater visibility across manufacturing, warehouse, and supply chain activities, and these enhancements are detailed in the release notes.

Enterprise organisations can particularly benefit from the comprehensive suite of tools offered by NetSuite 2024.2. The robust capabilities geared specifically towards large-scale operations ensure that these businesses can manage complex processes with ease. Whether it’s extended planning horizons or advanced financial management features, enterprise users will find that NetSuite’s latest update provides the scalability and control needed for efficient operation.

NetSuite 2024.2 introduces three new SuiteApps that empower businesses to better manage their
inventory, costs, and production schedules:

• NetSuite Supply 360: This SuiteApp gives production planners a clear view of inventory status across locations. It allows users to filter work orders by location and date, providing insights into potential component shortages through easy-to-read tables. This enables proactive decision-making and helps prevent production delays due to inventory shortfalls.

• NetSuite Available to Build: Manufacturers can quickly see how many products can be built with the current inventory. This tool evaluates both final assemblies and subassemblies, helping manufacturers to confidently commit to customer orders. This functionality is accessible from various points within NetSuite, including sales order entry and item management pages.
• Cost Variance Analysis: This SuiteApp provides a straightforward report comparing planned versus actual costs for work orders. It highlights cost variances in a colour-coded format, making it easy for managers to identify where costs deviated from expectations. This allows for deeper insights into cost management by tracking components, categories, and conversion costs.

NetSuite 2024.2 also brings significant enhancements to the Warehouse Management System (WMS), aimed at improving warehouse efficiency and reducing waste:

• Automated Stock Replenishment: Managers can now automate stock replenishment tasks, saving time and ensuring inventory levels are optimised. They can filter inventory by various criteria to streamline the restocking process.
• Enhanced Serial Number Tracking: Employees can capture serial numbers for entire pallets with a single scan during receiving, improving speed and accuracy in warehouse operations.
• Failed Pick Task Reporting: A new report highlights any failed pick tasks, enabling managers to quickly identify and resolve issues that prevent orders from being shipped.
• Optimised Shipping with Ship Central: Ship Central now automatically selects the most cost-effective shipping option to meet customer delivery dates, reducing manual decision-making and cutting costs. It also expands label printing capabilities, allowing businesses to include return labels and customise labels for specific shipping needs, such as hazmat items or international deliveries.

The latest updates to NetSuite’s Supply Chain Management tools offer new features that enhance
operational visibility and efficiency:

•  Colour-Coded Data Tables: SCM Mobile app now allows users to colour-code work orders, sales orders, and other records based on status, providing a clear visual indicator of order progress.
•  Printer Grouping: Organising printers into groups ensures that warehouse staff always use the closest printer, reducing time wasted on retrieving print jobs from distant printers.
•  Custom Record Flexibility: Businesses can now upload files and images to any custom record, not just standard record types, increasing flexibility and documentation accuracy.

NetSuite 2024.2 enhances the Manufacturing Mobile app, offering manufacturers greater control and efficiency:

• GS1 Barcode Scanning: The app can now automatically populate lot and serial numbers when scanning GS1 barcodes, reducing manual data entry and errors.
• Enhanced Manufacturing Controls: Managers can require employees to swipe badges to start and end steps in the manufacturing process, improving accountability and tracking.

Quality control is critical for manufacturers, and the latest release introduces new features to improve quality management:

Automation plays a pivotal role in streamlining these processes. The integration of automated workflows and alert systems minimises manual intervention, ensures timely progress tracking, and enhances overall efficiency. Manufacturers can now set up automation rules to trigger inspections, order processes, and other key actions automatically, further boosting productivity and reducing human error.

• Enhanced Inspection Controls: Only assigned employees can complete inspections, preventing unauthorised changes to inspection data. This ensures data integrity and accountability.
• Customisable Inspection Triggers: Quality managers can now define which transactions trigger inspections, helping to avoid unnecessary checks and streamline the inspection process.

NetSuite 2024.2 provides supply chain managers with more options for planning and inventory
management:

Customisable Minimum Order Quantities: Users can now set different values for minimum order quantity and lot size, offering greater flexibility when planning purchase orders.

Extended Planning Horizons: Demand planning horizons and purchase lead times have been extended from one to three years, giving businesses a longer-term view for strategic planning.

Financial management receives a significant upgrade in NetSuite 2024.2 with improved connectivity
and new features:

• Bank Feeds SuiteApp: Now connects to over 14,000 financial institutions, providing secure and stable banking connections. This enhances bank reconciliation and financial visibility.
• SuiteBilling Prepay Functionality: Businesses with consumption-based pricing models can now charge customers in advance for services. This feature integrates with NetSuite CPQ, enabling subscription item inclusion during the configuration process.
• Interactive Task Management: The new task management feature in NetSuite Account Reconciliation centralises the management of financial close activities, increasing collaboration and transparency within accounting teams.

NetSuite continues to incorporate artificial intelligence to improve functionality:

•  AI-Powered Bill Capture: This tool now offers enhanced matching capabilities, comparing more values from purchase orders and providing alerts for variances.
•  Cash Flow Forecasting: The Cash 360 SuiteApp now integrates instalment schedules for invoices and vendor bills, enabling more accurate cash flow forecasting.

NetSuite 2024.2 is a robust release that offers manufacturing, distribution, and supply chain businesses in Australia and New Zealand an array of powerful tools to optimise operations, control costs, and adapt to changes, driving growth. With enhanced SuiteApps, improved warehouse management, advanced supply chain tools, and better financial management features, businesses can achieve greater efficiency, accuracy, and insight, helping them stay competitive in a dynamic market. Release notes are available.

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If you are considering an ERP solution, take a look at what we do, how we got here, and how NetSuite works. Our FlexSafe methodology ensures that every NetSuite implementation is meticulously executed that is transparent, collaborative and increases user adoption by reducing change resistance. We have a proven track record of success in business access, process expertise, and providing scalable cloud solutions.

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