Managing inventory effectively is a challenge all fast-growing companies face at some point. As sales increase and inventory levels grow across multiple locations, it becomes extremely difficult to track stock accurately, fulfill orders efficiently, and maintain costs. Inventory-related headaches can quickly eat into profits and impact customer satisfaction if not addressed.
In this blog post, we’ll explore how NetSuite’s unified cloud ERP platform can transform the way you manage inventory across your organization. We’ll cover:
- Capabilities of NetSuite Inventory Management
- Top Benefits for Your Operations
- Signs You Need an Upgrade
- Why Choose Anchor Group for Implementation
- Is NetSuite Right for Your Business?
Key NetSuite Inventory Management Capabilities
NetSuite brings end-to-end visibility and control across your inventory operations including:
- Real-time visibility – At-a-glance dashboard shows inventory quantities, locations, and transactions across all facilities.
- Inventory optimization – Built-in statistics and reports highlight top selling and excess stock items to improve planning.
- Warehouse management – Manage pick, pack and shipping processes across unlimited warehouses.
- Multi-location tracking – Granular inventory balances and transfers across all locations visible in one system.
- Lot and serial number tracking – Track inventory at most granular levels from receiving to fulfillment.
- Barcode scanning – Fast order fulfillment through mobile barcode scanning apps.
- Replenishment alerts – Alerts notify when stock levels drop below defined thresholds for an item.
- Landed cost tracking – Capture real-time costs of shipping and logistics at line item level.
Top Benefits for Your Operations
With NetSuite managing your inventory, you can realize powerful benefits:
- Improved order fulfillment – Accurate, real-time inventory visibility speeds picking, packing and reduces backorders.
- Reduced carrying costs – Insights into excess stock allows reduction of inventory holdings and cost savings.
- Leaner supply chain – Align procurement more tightly to true demand based on reporting.
- Faster cycle counts – Mobile scanning simplifies physical inventory counting and reconciliation.
- Eliminated stockouts – Replenishment alerts ensure adequate stock levels to avoid stockouts.
- Enhanced procurement efficiency – Unified platform improves workflows for Procurement team.
Signs You Need an Inventory Management Upgrade
If your business exhibits any of these warning signs, an inventory management overhaul is likely overdue:
- No real-time visibility – Inventory tracking done manually in spreadsheets.
- Inaccurate fulfillment – Orders routinely show up short or backordered.
- Stockouts – You run out of product frequently, delaying orders.
- Excess inventory – You have bloated levels of inventory tying up cash.
- Difficult reconciliations – Cycle counts take weeks and don’t match system.
- Manual processes – Pick, pack and shipping workflows are paper-based.
Why Choose Anchor Group?
When you’re ready to implement a unified cloud ERP platform like NetSuite to overhaul inventory, partner selection is critical. Anchor Group should be high on your list based on:
- Years NetSuite Experience – We have an extensive track record of successful NetSuite implementations.
- Inventory Management Expertise – Deep knowledge across WMS, 3PL/fulfillment, and supply chain processes.
- Proven Implementation Methodology – Step-by-step playbook tailored for inventory management transformation.
- Prebuilt Accelerators – Custom workflows, KPI dashboards, and integrations to accelerate ROI.
- Client First Commitment – As a partner-owned firm, your success is our success. We stand behind it.
- Vertical Experience – Experience across manufacturing, distribution, retail, and services.
Is NetSuite Right for You?
If your growing company struggles with inventory visibility, order fulfillment inefficiencies, stockouts or excess carrying costs, NetSuite is worth exploring. The unified cloud platform brings end-to-end visibility and control to your inventory operations in one scalable solution built for growth.
To determine if NetSuite is the right solution for your business, ask yourself:
– Does our inventory visibility need improvement?
– Are customers unhappy due to stockouts or delays?
– Do we lack real-time insights into inventory health?
If you answered “yes” to any of these questions, the time for change is now. Contact Anchor Group today to schedule a demo and receive a customized assessment of NetSuite for your inventory management needs.
