NetSuite Modules for Retail & Distribution

Inventory Management

Efficient inventory management is essential for businesses in retail and distribution. NetSuite’s Inventory Management module allows companies to monitor stock levels in real-time, ensuring that the right products are available when needed, without overstocking.

This module also offers advanced features like demand-based replenishment and lot and serial item management to enhance visibility and control.

Key Benefits:

1. Demand-Based Replenishment: Ensure optimal inventory levels by automating replenishment based on demand patterns.
2. Lot & Serial Item Management: Track and manage specific items using lot numbers or serial numbers, ensuring full traceability and accountability.
3. Landed Costs Allocations: Accurately allocate costs like shipping, duties, and taxes to items, improving your understanding of true inventory costs.

Who Benefits: Inventory Managers and Warehouse Managers can make better, more informed decisions regarding stock levels, minimizing waste while maximizing efficiency.

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Procurement

Procurement is a critical part of any retail or distribution business, and NetSuite’s Procurement module offers powerful tools to streamline the entire source-to-pay process. Automating procurement processes not only saves time but also reduces errors and ensures that you can secure the best prices and terms from your suppliers.

Key Benefits:

1. Streamlined Source-to-Pay Process: Improve accuracy and efficiency from purchase requests to payments, reducing manual efforts and potential mistakes.
2. Request for Quote (RFQ) Process: Automate the RFQ process, allowing you to quickly solicit pricing and terms from multiple suppliers.
3. Blanket Purchase Orders (POs): Set up blanket POs for frequently ordered items, saving time and ensuring consistency in procurement.

Who Benefits: Purchasing Managers gain more control and transparency over procurement processes, enabling them to secure better terms from suppliers while ensuring timely replenishment.

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Demand Planning

Managing demand is crucial for maintaining the right level of inventory and ensuring customer satisfaction. NetSuite’s Demand Planning module uses historical data and sales forecasts to predict the right amount of inventory needed, preventing stockouts while avoiding excess stock.

Key Benefits:

1. Accurate Demand Forecasting: Predict future inventory requirements using historical demand trends and sales forecasts, helping to optimize stock levels.
2. Material Requirements Planning (MRP): Plan inventory needs based on build forecasts and work orders, aligning materials with production schedules to prevent shortages or overproduction.

Who Benefits: Purchasing Managers and Inventory Managers can work more efficiently by aligning purchasing decisions with real-time demand insights, improving inventory turnover and reducing carrying costs.

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WMS Lite

The WMS Lite module is a simplified version of NetSuite’s warehouse management system, providing businesses with essential tools for managing inventory within a warehouse. With real-time inventory updates and the ability to scan and track items using radio frequency (RF) mobile devices, this module is a game-changer for businesses looking to enhance warehouse efficiency.

Key Benefits:

1. Real-Time Inventory Updates: Receive instant updates on inventory levels, ensuring accurate stock counts at all times.
2. RF Mobile Device Support: Utilize RF mobile devices for scanning and tracking items, improving the speed and accuracy of warehouse operations.
3. Enhanced Transaction Management: Track and manage warehouse transactions more effectively, ensuring that inventory is handled efficiently from receipt to fulfillment.

Who Benefits: Inventory Managers and Warehouse Managers can improve operational efficiency, reduce stock discrepancies, and enhance overall inventory management accuracy.

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Grid Order Management

For businesses that handle large volumes of similar products, Grid Order Management simplifies the order entry process, allowing for quicker and more accurate processing of orders. This module helps retailers and distributors save valuable time by providing a grid format for ordering items with similar attributes, such as size or color.

Key Benefits:

1. Efficient Order Entry: Save time and reduce errors by entering orders for like items in a convenient grid format, simplifying the order entry process.
2. Customizable Templates: Create and reuse grid templates for items with similar attributes, streamlining order transactions.
3. Improved Order Accuracy: Ensure greater accuracy in order processing, reducing mistakes and improving customer satisfaction.

Who Benefits: Accounts Payable Controllers and Inventory Managers can speed up order processing, reduce entry errors, and maintain high levels of customer service.

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