NetSuite is a true cloud solution and includes major releases twice per year as part of your subscription. The fantastic thing is that the upgrades happen automatically and at no additional cost. Within a few weeks of a new release, 100% of NetSuite customers now have the updated release and access to all of the new great features!
Here are the key new features that impact wholesale distributors from its latest update.
Supply Chain Control Tower
- Provides the ability to visually monitor your inventory, demand, and supply across your entire global supply chain
- Time phased view to help identify future imbalances in demand and supply
- Filter and drill down into transactions to take action directly from the Tower
- Export the entire grid to Excel for further analysis
Single customer record across all subsidiaries
- Single view of the customer throughout the organization
- View, share and manage customers across multiple subsidiaries
- Assign customers to transactions regardless of the subsidiary they initially were created in
Inbound Shipment Management was introduced in 2017.2, 2018.1 adds several important enhancements:
- Enter landed cost (freight, brokerage fees, duties, etc. ) against the inbound shipment record
- Multicurrency enabled
- Multiple ways to allocate the costs (value, quantity, weight)
- Can use SuiteScript to add complex logic and calculations to personalize for your companies specific needs
Fulfill sales orders from warehouses in different subsidiaries
- Define global inventory relationships that includes location restrictions
- Reduces the number of steps required to perform intercompany transactions
- Allow warehouses from other subs to fulfill product directly without the need to perform a drop shipment
- Fully integrated with NetSuite’s Advanced Order Management
Quality Management Updates
Quality Management was part of update 2017.2 as a standalone module. Before that it was only available as a part of advanced manufacturing. In 2018.1, NetSuite has several new enhancements.
- Now available for use with standard manufacturing
- Quality Management previously focused on incoming materials from vendors, but it now can be triggered from an assembly or manufacturing activity or receipt of finished goods
- Can perform inspections from a tablet (iPad, Android)
- Capture image from the tablet interface and automatically attach to the quality record
There is much more to cover, but these features will provide the most benefit to wholesale distributors. It’s amazing and refreshing that NetSuite is able to consistently provide this type of new release functionality twice per year, and that within weeks 100% of NetSuite customers are able to take advantage of all of these new great features.