NetSuite 2020 Release 2 Helps Wholesale Distributors Fortify Warehouse and Ecommerce Operations
Many Australian businesses rely on wholesale distributors to represent their business internationally, while many international businesses have appointed wholesale distributors for their ANZ market representation.
Efficient warehouse operations is one of the key differentiators for wholesale distributors and solving core challenges can impact in delivering operational excellence. Many distributors are battling with ineffective supply chains, lack of clear data, excess inventory, and limited tracking.
Analysts globally are predicting that digital commerce is here to stay as increases in B2B and B2B2C consumerism increases. These changes are pushing distributors to invest in automated supply chains and integrated ecommerce platforms with robust business logic, automation, and data transparency so they can compete.
Enhancements in the latest Netsuite 2020.2 version addresses these needs and more including warehouse management, quality management, supply planning and ecommerce, which gives wholesale distributors the tools and capabilities they need to weather uncertainty and thrive.
- The NetSuite WMS functionality includes the ability to receive, transfer and pick goods inside a location without bins, including single order picking and multi-order picking at warehouses. Small warehouses benefit from the efficiency of hand-held picking without the overhead of managing bins.
World Class B2B Commerce
- With an improved form and flexible approval workflows, the new SuiteCommerce Sign Up extension speeds up the registration and approvals of ecommerce store buyers. Upon form submission the “unapproved” interested buyer requires admin approval to allows them to receive the B2B/wholesale pricing.
- The Merchandise Hierarchy Workbook now features pre-built customizable KPIs and reports so you can quickly analyze merchandise performance and view performance trends by category and identify new opportunities.
Autonomous Supply Chain
- NetSuite’s MRP capabilities for supply planning* has been completely re-designed so now it features a dedicated planning repository allowing planners to make decisions based on timely and reliable information. Supply Chain Planners are now able to:
- monitor, edit or release orders for approval and aggregation;
- review and accept action/exception messages individually or in bulk; and
- pegging information provides planners full visibility into how demand is allocated to supply.
- The Planning Workbench analyses the data by product line, plan, location, user-defined item categories and groups. The Planning Workbench alerts users to issues that require attention to prevent shortages and excess stock, and provides ‘what-if’ scenario planning.
- Supply allocation accuracy is increased by allowing inbound shipments to be included into the allocation of supplies relating to purchase orders.
- Fill rate optimization allocates existing supply to fulfill as many sales order lines possible based on the given stock levels.
* Available to customers who are using NetSuite Demand Planning
- The Quality Management SuiteApp has been enhanced to allow inspections to be generated from advanced manufacturing production scores. Also, location and customer-specific checks can be prompted from item fulfillments changed by shipping status, and improved support for high-volume sampling gives the ability to import inspection results by CSV.
Financial and Operational Excellence
- Invoice grouping facilitates the consolidation of multiple invoices into a single invoice for the customer. Payments can be at the group level and applied to individual invoices, thereby reducing manual grouping resulting in more accurate invoicing, cashflow improvements and reduction in outstanding debtors.
Learn More About Netsuite 2020 Release 2 for Wholesale Distributors
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