NetSuite Inventory Management

NetSuite Inventory Management allows you to set predefined fulfillment rules to avoid multiple shipments for a single order and reduce unnecessary shipping costs, and using sophisticated track inventory software ensures that every item’s journey is monitored from the warehouse to the doorstep.

With a clear overview of inventory at all locations, you can proactively monitor stock levels and control sell-through; moreover, leveraging Cloud Inventory Control gives decision-makers the flexibility to manage stock from any device or location, and this enables transferring inventory between locations to ensure availability and minimize obsolete stock. Sales representatives can avoid potential sales losses due to stock shortages by accessing enterprise-wide inventory availability, transferring items, reserving stock, or shipping directly to the customer.

Fluctuations in demand, seasonality, supply chain logistics, and the natural lifecycle of a product must be considered to ensure adequate stock levels. Using demand-based replenishment planning, NetSuite Inventory Management leverages historical and seasonal sales data, average lead times, and the number of available inventory days to dynamically manage reorder points and maintain preferred stock levels. NetSuite automatically creates tasks and notifications and sends them to the purchasing manager.

NetSuite Smart Count is a solution for cycle counting that helps companies improve inventory management efficiency and accuracy by automating counts without locking the entire site for transactions. The inventory used for counting is recorded at the start of the count for each individual product. Smart Count tracks all transactions that occur for the counted items during the counting process and automatically notifies counters if activities happen during the count so they can respond accordingly. Administrators can set rules for what should happen if the available quantity of an item changes during the counting process. The entire counting process can be performed via a mobile device, saving time and increasing accuracy.

With NetSuite Inventory Management, you can track inventory both backward and forward using lot and serial numbers. Items with lot numbers capture the quantity and specific cost for each lot as products are purchased or manufactured. Inventory serialization allows selecting a specific item during order fulfillment. Together, lot and serial numbers enable defining fulfillment strategies (such as “First Expiring, First Out”) to minimize waste and use inventory efficiently.

Container management and defining your product hierarchy also contribute to traceability. Matrix items track products by options like size and color. Changes to the parent item are automatically applied to the sub-items, significantly simplifying SKU management.

The Item 360 dashboard brings together all relevant information about an item in one central location. This significantly simplifies inventory planning and management, as all necessary data about an item is available at a glance. Item 360 goes beyond basic information and displays custom KPIs, inventory quantities by location, and forecasted stock levels, with alerts for expected shortages or overstock.