NetSuite Inventory Management Demo

NetSuite Inventory and Stock Management Demo Overview:

Inventory Tracking and Reporting

KPIs related to inventory, such as current inventory levels and comparisons to previous periods, can be easily accessed and monitored through Netsuite's dashboard.
Serialized items, with unique serial numbers for each item, provide detailed tracking and reporting capabilities for inventory movements and sales.
The demand planning module in NetSuite's inventory management system allows for a more advanced and efficient approach to inventory replenishment.
Multiple locations of inventory can be managed in NetSuite, with each location providing important information such as physical quantity, value, and cost, allowing businesses to make informed decisions about shipping and reordering.
NetSuite's classification system allows businesses to create rules based on factors such as average cost and sales volume, enabling automated inventory classification for efficient inventory management.
NetSuite's advanced functionality allows for optimizing inventory levels by suggesting transfer orders between different locations based on inventory and order quantities.
The NetSuite Inventory Management system allows users to easily transfer and distribute items between different locations, providing warnings for shortages and the ability to define transfer rules.
NetSuite offers a variety of inventory reports, including item profitability and inventory profitability, allowing businesses to track their actual profitability and drill down by customer.
The ability to drill down and analyze specific data points within reports is a valuable feature in NetSuite Inventory Management.

Integration and Workflow Efficiency

The integration of different modules in NetSuite, such as purchase orders and inventory records, ensures real-time updates and a seamless workflow within the system.
By using NetSuite's inventory management, users can easily generate supply plans and purchase orders based on their specific rules and time horizons, streamlining the purchasing process.
NetSuite's integration with CRM allows for seamless information flow, eliminating the need for separate systems and enabling users to manage quotes and proposals within the same platform.
Netsuite provides a lot of advanced functionality for inventory management beyond what was covered in the video, such as demand planning and supply chain workbench.

Costing Methods and Profitability Tracking

NetSuite Inventory Management allows for different costing methods such as standard costing, average costing, and LIFO/FIFO, providing flexibility for businesses to track profitability.