Manufacturers Build Resilient Supply Chains With NetSuite 2020.2
The recent Australian and global crises have seen supply chains disrupted in many ways which has resulted in manufacturers forced to find new suppliers and analysing their entire supply chain processes and their suppliers’ supply chains. In the meantime, they have been battling to meet demands and forecast in such dynamic and evolving environments.
The recent NetSuite 2020 Release 2 enhancements can help manufacturers overcome some of these challenges. These new capabilities are designed to bring more insight and efficiency to everything from procurement, demand planning, resource allocation, warehouse management and financial management. NetSuite 2020 Release 2 delivers the flexibility and responsiveness that manufacturers need to thrive in these times.
Autonomous Supply Chain
- The new material requirements planning (MRP) capabilities for supply planning (available to customers who are using NetSuite Demand Planning) has been completely re-architected, featuring a dedicated planning repository. This will ensure that demand planners can make timely decisions based on consistent information. Planners will be able to monitor orders, approve and aggregate released orders; review and accept action/exception messages individual or in bulk; while pegging information gives planners total visibility into demand allocations to supply.
- The planning workbench analyse data by product line, plan, location, user-defined item categories and groups. It emphasizes situations that require attention, avoid both shortages and excess supplies, and delivers what-if analysis for simulating multiple plans.
• Intelligent Predicted Risks capabilities have been expanded to include sales orders, providing users with better insight into risks potential of goods not shipping on time. Purchase orders can be recognized for risk and recommend alternate vendors based on machine learning algorithms.
• Increased accuracy for supply allocation by allowing inbound shipments to be included into supply allocation pertaining to related purchase orders. Also, fill rate optimization allocates existing supply to satisfy as multiple sales order lines based on the given supply.
Quality Management SuiteApp improvements enable inspections to be prompted from advanced manufacturing production results. Location- and customer-specific inspections can be sparked from item fulfillments differentiated by shipping status, and enhanced support for high-volume sampling gives the ability to import inspection results by CSV.
• The NetSuite WMS has the capability to receive, transfer and pick goods inside a location without bins now. Businesses with retail stores or small warehouses gain from the efficiency of hand-held picking without the operating expense of managing bins.
Financial and Operational Excellence
• Invoice grouping enables the consolidation of multiple invoices into a single customer invoice. Also, payments accepted at the group level can be applied to individual invoices which will reduce manual groups, increase invoicing accuracy resulting in improved cashflows and decreased sales days outstanding.
Learn More About How NetSuite 2020.2 Helps Manufacturers
These are just the highlights; there’s much more for Wholesale Distributors in NetSuite 2020 Release 2 than what has been covered here. For more specifics on the complete list of new features, be sure to read the Release Notes 2020.2