Supply chain management deals with areas of procurement, operations, logistics, marketing channels, and more so that businesses can simply operate and deliver within their industry. For companies of all sizes, an enterprise resource planning (ERP) system like NetSuite will help with efficiently managing supply chain activities that turn raw materials into finished products for its customers.
NetSuite is a popular ERP system that businesses are commonly operating on and many are making the switch. We're here to break down some of the top ways NetSuite benefits businesses with supply chain management and the various areas where it could help.
Benefits of NetSuite in Supply Chain Management
Improved Efficiency and Productivity. ERP systems can improve supply chain management efficiency by bringing automation to the table and improving visibility across the supply chain with centralized data. Adding these two things into the mix will streamline many of the previously manual processes that occur on a regular basis for a business.
Workflow Automation. Cloud-based ERP systems feature many areas that can be automated for a business, across various departments. Automating and accelerating supply chain processes will reduce manual efforts and create a series of much better-flowing processes for a business.
Centralized Data. One of the most valuable aspects of an ERP system is having a centralized place for all information from all departments of a company. Without such a system in place, data is spread across multiple systems, spreadsheets, physical filing cabinets, a box in the closet...you get the idea.
Fewer Bottle Necks. Each step in the supply chain feeds off of the prior steps. Having the systems in place to identify bottlenecks in the supply chain will help management teams correct them sooner to maintain production capacity and keep delivering to customers.
Areas NetSuite Can Help with Supply Chain Management
Procurement Management. NetSuite provides a centralized platform for managing the procurement process, from purchase requisitions to purchase orders and invoice management. This automation eliminates manual processes and reduces the risk of errors, leading to cost savings and increased efficiency.
Inventory Management. NetSuite provides real-time inventory management capabilities that enable businesses to track inventory levels accurately, manage inventory movements, and forecast future demand. This ensures that businesses always have the right inventory levels to meet customer demands, reducing the risk of stock-outs and improving customer satisfaction.
Warehouse Management. NetSuite provides a comprehensive warehouse management system that enables businesses to optimize their warehouse operations, including receiving, putaway, picking, and shipping. This optimization ensures that businesses can efficiently manage their warehouse resources, reducing costs and improving efficiency.
Production Management. NetSuite provides real-time visibility into the production process, enabling businesses to track production progress, manage schedules, and optimize resources. This ensures that businesses can meet customer demands more efficiently, reducing lead times and improving customer satisfaction.
Quality Control. NetSuite provides robust quality control capabilities that enable businesses to track and manage product quality, from raw materials to finished goods. This ensures that businesses can maintain high-quality standards, reducing the risk of defects and recalls.
Supply Chain Collaboration. NetSuite provides collaboration tools that enable businesses to communicate and collaborate with suppliers and customers in real-time, reducing lead times and improving supply chain efficiency.
The opportunities are endless with what NetSuite ERP brings to the table with supply chain management. There is so much more that it can do for a business on top of that as well. To learn more about utilizing the benefits of NetSuite, the team at AccountingDepartment.com can assist you. Our highly trained team of professional accounting specialists is here to serve all of your client accounting service needs.