CAN YOU ACHIEVE AN AUTONOMOUS SUPPLY CHAIN?
NETSUITE’S LATEST RELEASE GETS YOU CLOSER
Is 2021 the year of the Australian Manufacturer? We think its just the beginning of the resurgence. However, you’re probably reviewing your supply chain with a magnifying glass right now looking for every single point of failure after the painful lessons of 2020. If you’re one of the many Australian Manufacturers reevaluating supply chain strategies due to recent – and in some cases ongoing – disruptions then read on as NetSuite’s 2021 release gets you closer to achieving an autonomous supply chain.
Built to help manufacturers better predict demand and plan supply, NetSuite 2021 helps you adapt to the autonomous supply chain, all while simplifying your inventory and warehouse management processes to lower costs.
So what are the enhancements?
NetSuite Autonomous Supply Planning Capabilities
Date-based views & colour coded sorting parameter:
Enhancements to the Supply Planning Workbench now allow for date-based views so the planner can review the planning results for an item and location by period to uncover trends. There’s also a new sorting parameter called “high impact late demand threshold” that triggers a color-coded alert directly in the Supply Planning Workbench whenever late demand exceeds demand thresholds established by the company.
To reduce strain on the system during busy times, planning repository refreshes can be automated to run in off hours. Planners can designate criteria for the process to repeat at a specific interval, freeing up their time as well.
Saved Search & snapshot views:
New Saved Search functionality provides ad-hoc reporting and analysis for planning repository data and the planning results data generated by the supply planning engine.
Blanket PO schedules and inbound shipment information are now included in the snapshot view in Supply Chain Control Tower, which lends more accurate information on the projected net available inventory balance for each location.
NetSuite Automated Inventory Management
Improve the accuracy of your picking practices with the NetSuite Pack Station, a simple, touchscreen interface for easier and more accurate packing processes. Group orders with the same shipping routes together so those orders can be packed together, while support for partial picking and weights can be scanned directly from scales, to avoid errors from manual entry.
Automatically Create Picking Waves
New warehouse management system (WMS) enhancements provide the ability to automatically create picking waves and organize by delivery times, delivery address, shipment numbers and more. Wave creation activities can be scheduled for off-peak hours so that the system isn’t taxed during busy periods. Other enhancements focus on tally scans, cart put-away, bulk picking, automatic label printing and added support of mobile status changes.
Improved Inventory Allocation
Inventory can be allocated and reserved by channel and manufacturers can now allocate against a blanket PO.
Customers can configure rules for FEFO (first expiry, first out) allocation of inventory to optimize inventory and reduce waste.
Smart Financials and Operational Automation
Improved support for invoicing and billing processes for multiple subsidiaries by automating the process of moving the items from a single PO from the purchasing subsidiary to the one they’re going to, previously a highly manual process. Statutory bills and paperwork required for each individual subsidiary is also now automated.
Prevent overspending with new expense commitments and budget validation functionality, which validates purchase requests and orders against an organization’s available budget, ensuring that budgets are closely followed.
We’ve been busy curating the most relevant NetSuite demonstration content on our YouTube channel, as well as some video based case studies, so you don’t have to hunt for the information.