Manufacturing firms must be well aware of their production-related data along with their internal processes, employees, and external factors like suppliers, vendors, distributors, partners, etc. According to a survey, the majority of manufacturers were prepared to spend money on new digital technologies to increase their productivity and streamline internal business processes.
Manufacturers should increase their efficiency, appropriately utilize their resources, improve their client services, and maintain organizational compliance in order to remain competitive. ERP benefits manufacturing businesses by easing their operations and driving their growth.
Regardless of their size, sector, and locations, manufacturing firms are expected to create best products, maintain best quality, keep aggressive pricing and offer a very fast time to market cycle – to attract new customers and keep the existing ones. The IT infrastructure needed for manufacturers to succeed, expand, and achieve the above objectives is provided by NetSuite.
The best ERP for manufacturers – NetSuite
ERP along with omnichannel software on the cloud – NetSuite offers entire business solutions for manufacturers. NetSuite helps to automate the management of the entire product life cycle. NetSuite is one single integrated system that serves as the management tool for your entire manufacturing process.
There are many strong functionalities of NetSuite that help manufacturing firms run their business effectively. Through the key features for manufacturing companies given below, NetSuite quickly streamlines your operations to ease complex workflows.
- Total inventory control – As a manufacturer, having a complete charge over your inventory should be your first priority. NetSuite gives the following advantages with the full inventory visibility:
- To make the appropriate purchases
- Having proper stock quantities in the warehouses
- Lack of extra inventory lowers the cost of carrying materials
- Manufacturers ensure that deliveries are made on time and do not run out of stock
- Ability to plan production – With NetSuite, you can effectively plan your material purchases, manage your inventory, and handle your human resources. It also aids in arranging your work centers and machine setups to improve manufacturing operations.
The following capabilities of NetSuite can help you to achieve maximum profitability:
- Capacity planning: Ensures that suitable resources are available to streamline manufacturing processes
- Batch scheduling: Automates the scheduling of each batch separately based on the machine’s capacities
- Forecasting: You can figure out and forecast sales and demands. You can analyze and modify the forecasts in NetSuite so that you can proceed with the supply chain as necessary
- Material Requirement Planning (MRP): NetSuite’s demand planning features help in improving supply and demand balance while making future purchase plans. It makes sure to prevent having too much inventory which raises the cost of moving the materials. The capacity to monitor safety stock levels in order to prevent stock-outs
- Bill of Materials (BoM) – It serves as the basis for production planning. The list of materials, parts, and components, along with the quantity needed to generate the product, makes up to the bill of materials. Assemblies and subassemblies required for a shippable finalized product are also included. BoM’s ensures that you are aware of the costs of all materials and components for the final product before production begins, which is essential for precise and effective manufacturing. The manufacturer is aware of all the needed materials. Both material scarcity and abundance are avoided.
By utilizing NetSuite, your business can generate BoMs that offer the following benefits:
- All important elements should be on a single record
- Ensures that the right quantity of parts and materials are available
- By using the same BoM throughout, products are consistent
- It assures precise inventory, prevents product delays, and cut costs and time
- BoMs assist in backtracking and identifying the manufacturing-related parts and components in case of product failure
- Complete Order Fulfillment Cycle – With real-time data visibility, NetSuite handles inventory, supply chain, productions, sales, order processing, and customer support in a single go. Automation allows for the reduction of labor costs and redundant manual tasks.
- Automation – To boost productivity throughout the company, NetSuite has automation tools for billing, costing, production, vendor management, and internal employee management. Inventory is always available at the appropriate time, location, and right quantity because of automation, which guarantees demand-supply balance.
- Accurate costing – By offering a wide range of costing techniques, NetSuite offers precise costing. During the whole manufacturing cycle, it enables users to calculate direct and indirect costs.
- Traceability – With returns, exchanges, and warranties, NetSuite delivers real-time inventory tracking throughout your supply chain. You can handle recorder points automatically and keep track of the inventory across all locations.
Almost all aspects of manufacturing business processes can be automated through NetSuite. Moreover, it offers end-to-end visibility into the supply chain, production, operations, inventory, and market demand. With the help of NetSuite, you can manage your inventory and resources, and get precise, trusted information to make crucial decisions that will spur growth.
Being the Certified NetSuite ERP consultant and authorised partner, we encourage you to use the great potential of NetSuite within your organisation. This allows you to perform business operations without any difficulties. Connect with our team of NetSuite Consultants to discover our implementation & support services and evaluate NetSuite for your manufacturing organisation.