Whether involved in the manufacturing industry, service industry, or other industries that handle products or stock, the last few years have been a wild ride of ups and downs with supply chain issues and more caused by the COVID-19 pandemic.
Fortunately, operating with an ERP system like NetSuite allows companies to quickly adjust to challenges caused by the pandemic and also while driving long-term operational improvements. Here are 3 areas in which NetSuite can assist with the workflow of these industries.
Many companies have different entities, are spread out across the United States, or even spread out across the world. Needless to say, not all parties of a company will likely be able to be in the same room while implementing NetSuite, without causing major complications.
Thankfully, NetSuite can be implemented virtually which means tasks and training can be handled without all parties physically present. NetSuite is a high-level ERP system that features some of the most modern technology and allows for streamlined remote implementation capabilities.
Improved Supply Chain Visibility
Before the pandemic, supply chain issues were not as prevalent and it allowed some room for companies to not worry about if their supplies or inventory were going to be delivered when needed. Additionally, many companies still track inventory using manual processes, which could allow for a margin of human error.
As companies grow, it is crucial to omit these opportunities of human error and also stay in tune with their supply chain and distribution networks. NetSuite's ERP system has the tools needed to monitor inventory in real-time, automate stock replenishments, and track production lead times more closely. It provides businesses to have the tools to handle many supply chain and distribution tasks quickly, accurately, and virtually.
Improving Efficiency and Setting Up To Scale
As a business grows, neglecting to have a system that can keep up can negatively impact business efficiency and the service provided to customers. Bottlenecks caused by lacking the right tech and software can introduce additional business risk and lost profits.
One of those major bottlenecks, mentioned above, is manual processes. Having rooms stacked with files should not be how a company operates its business these days. Improving efficiencies by switching over to virtual systems will help reduce the bottlenecks and improve the efficiencies with things like data input, organization, and accessing financial data. It can even go as far as organizing worker schedules and payroll.
Having the right systems in place is what poise companies for growth. It is best to be ready to scale internally so that various workload levels can be handled with precision and accuracy.
To learn more about NetSuite, how it can assist a business, and how AccountingDepartment.com can tie it all together, reach out today!