NetSuite allows a lot of functionality to make your day-to-day work easier and efficient. However, certain people want different information than others. That is where saved search techniques from our Sikich NetSuite experts come in handy!
A saved search is a way to really narrow down your data using advanced filters. You can then organize that filtered data using specific fields to easily see only the information that you need. From there, you can even share this information with anyone else in your company that would request it from you.
One way to use a saved search is to create a custom Stock to Sales report. This report is great for companies in the retail industry, but it can be used for any company in any industry. The Stock to Sales reports that we created have been broken up two different ways: by sales made over a certain amount of time for all locations and sales by location (provided you have multiple locations).
With the Stock to Sales report sorted by sales over time, it will show how much inventory was sold by product over the last 7 days, 28 days, and 84 days. It will also show the amount of inventory you have on hand, the total amount available, and the stock to sales ratio. By seeing all of this information, you can then determine how much of each product should put on the shelves based on how they’ve sold in the past. It also provides some insight to which products aren’t doing as well as the others, so you can try to promote those products a little better.
With the stock to sales report sorted by location, you can see how much product has been sold at each store or online. You can use this information to determine how much product should be sent to each store. It can also help you to determine which store is doing better than the other with certain products. Products sell differently in different areas, so this report can give you a quick insight to that information.
With the Stock to Sales report in NetSuite, you can make your inventory stocking decisions a bit easier. If you are interested in using a report such as this or would like more information about it, please contact us. You can also learn about more great tips for NetSuite on our YouTube playlist or our other blog posts.
