Some of the leading manufacturing businesses have transitioned to Cloud ERP solutions to better manage business processes and improve operational efficiencies. Are you also planning to make the move?
NetSuite’s ERP is a comprehensive cloud-based ERP suite that offers a variety of solutions to various industries, including for manufacturing industry. Here in this blog, we will be looking at the NetSuite Manufacturing module and see how it benefits manufacturing industries with its advanced features and functionalities.
According to the studies, the manufacturing industry will experience faster growth rates as compared to the general economy. As countries all over the world are opening up to the idea of protecting and supporting their intellectual property, there’s an increased effort across the world to start in-house manufacturing processes, leading up to expected increased growth for the manufacturing industry.
Now, if you are associated with the manufacturing industry, you must know the value and significance of the Enterprise Resource Planning (ERP) system to beef up the operational efficiency and streamline workflow processes for higher profits. NetSuite ERP is certainly the most comprehensive and robust ERP Solution offering advanced tools and features to meet the unique needs of various industries. The NetSuite Manufacturing ERP solution brings in customized and specialist tools from financial, to warehouse management, and inventory controls among others to enable manufacturing industries to streamline their operations and improve productivity.
NetSuite advanced manufacturing tools like CRM, HCM, ecommerce, and more assist industries to automate various key business functions, enabling them to get better controls over processes for increased revenues and profits.
Now, if you are still confused about which ERP solution to choose for your manufacturing business, let us walk you through the details of NetSuite manufacturing ERP modules and why it’s the best choice for your manufacturing business.
What are NetSuite Advance Manufacturing Modules?
Now, let’s briefly introduce some of the high-utility NetSuite manufacturing modules, which makes it the perfect choice for all manufacturing businesses;
1. NetSuite CRM
NetSuite Customer Relationship Management (CRM) is certainly one of the most powerful and comprehensive CRM systems available in the market. The CRM tool brings in advanced tools and features to enable users to have a comprehensive and insightful view of customers through one centralized dashboard.
The NetSuite CRM also enables businesses to put in place seamless information flow across the entire customers’ lifecycle; from the very moment a lead is generated, all the way through to sales order, fulfillment, upsell, cross-sell, and support.
It’s a crucial NetSuite component that assists businesses to grow by expanding their customer base through effective and efficient customer management.
Key Features:
– Lead Management
Keep track of business leads and referrals with the lead management feature of the NetSuite CRM module. The feature also enables businesses to analyze conversion rates and ROIs, all through an interactive and unified dashboard.
– Forecasting
The forecasting module of NetSuite CRM enables businesses to estimate potential revenue and profits generated at individual phases of the sales cycle.
– Order Tracking
Keep close tracking of all leads, orders, and sales through interactive and insightful tools. The feature also enables businesses to generate interactive reports for better visibility and sharing.
– Case Management
Case management features enable businesses to effectively manage support cases by automating the entire process of case registration, escalation, routing, tracking, and response.
– Real-time CRM Dashboards
Control entire customers’ operations through a unified and interactive dashboard. The dashboard is completely customizable to help businesses maximize their operational efficiency and productivity.
2. Engineering
The Engineering tool in the NetSuite advanced manufacturing module enables businesses to optimize the products’ designs, as well as, BOM management. The tool automates seamless propagation of engineering design changes across the different business functions, thus ensuring that the changes are reflected in the downstream BOMs, procurement orders, and demand plans.
Key Features:
- Advanced functionalities for inventory control tracking
- Customizable inventory costing methods
- Enable planning and costing of products under project controlled environments
3. Planning and Scheduling
Strategic planning is a crucial business component that impacts the overall success of any project. That’s precisely why NetSuite offers robust and features-packed planning and scheduling tools as key NetSuite advance manufacturing modules.
The planning tool enables businesses to automate the process of inventory management, by synergizing the demand and supply. Thus, businesses are able to manage their inventory more effectively and don’t have to face reputational issues due to low/depleted inventory.
Also, the scheduling tool enables users to leverage real-time scheduling engine and create practical schedules for the project while offering;
- Customizable scheduling codes
- Easy scheduling capability (drag and drop)
- Scheduling capability with user-defined constraints
- Creating interactive graphs for schedules for better visibility and monitoring
4. Order Management
The order management tool offered by NetSuite enables businesses to automate the entire process of order management from shipping/logistics to fulfillment, and account receivables. With the order management tools, businesses can synchronize their global inventory, thereby, greatly streamlining the business operations and increasing profits for the business.
Key features:
- Real-time visibility of the complete order management process
- Supports global inventory
- Supports multi-step shipping/logistics and fulfillment
- Offer data for orders, conversion rates, and order trends
- Easy integration with major carriers including FedEx, USPS, UPS, and others.
5. Supply Chain Management
The supply chain tool is another key module of NetSuite manufacturing that enables businesses to synchronize suppliers/vendors with the purchasing department. The tool also enables businesses to optimize the distribution resource planning by automating seamless inventory data transfer to whoever needs it.
Key Features:
- Real-time access to global inventory status
- Real-time access to global supply chain data
- Real-time access to global key spend
- Automate generation of purchase orders, work orders, and transferring orders for optimized distribution resource planning
- Automatic reordering alerts for low inventory stocks
- Automatic generation of reordering forms
- Forecasts optimum inventory stock levels by analyzing historical data, seasonal fluctuations, and average trends
6. Production Control
The NetSuite’s production control feature enables manufacturing businesses to optimize the scheduling and work order management processes by creating, updating, and monitoring work orders generated throughout the entire production process.
Key Features:
- Automated generation of work orders from sales orders
- Offer key insights for inventory tracking
- Enable traceability of products through a lot and serial numbers
- Easy access to full production routing capabilities
7. Service and Support
For any manufacturing business, maintaining higher standards for service and support is critical for business continuity plans. That’s where NetSuite’s service and support tools come into play. The service and support tools by NetSuite enable manufacturing businesses to conveniently manage all customer support cases, optimize management of warranty returns, as well as, offer self-service support for customers.
The integrated customer service management solutions offered by NetSuite ERP give businesses a 360-degree view of customers, assisting them to optimize the support services for higher customer satisfaction rates. It also enables businesses to attract new customers, increase customer retention rates, and lower service costs. The tools also enable different business functions including; sales, support, order fulfillment, and other departments to access key customer data in real-time to take necessary measures for higher sales, and better customer support services.
Key Features:
- Automated case management
- Easy product returns across global locations
- Automate triggering of return and repair processes
- Offers access to online training resources
8. Financial Management
Effective management of finances is crucial for all manufacturing businesses to remain profitable and implement business continuity plans. The financial management tool from NetSuite’s advanced manufacturing ERP system enables businesses to optimize accounting, costing, and payment management.
Key Features:
- Customizable dashboards with easy access to all functionalities including accounts payable, receivables, and orders data
- Automatic generation of income statement and balance sheets
- Automatic generation of variance reports, and side-by-side comparison reports
- Create an unlimited number of general ledger accounts
- Easy management of asset lifecycle (for depreciating, and non-depreciating assets)
- Currency management tools
9. Quality Management
For any manufacturing business, quality management remains a pressing issue to keep up with its reputation and growth plans. The NetSuite ERP software manufacturing modules bring a powerful and well-integrated quality management system that enables manufacturing businesses to keep up with the highest quality standards by putting in place strong quality-assurance mechanisms. The quality management tool helps businesses to define quality standards (pass/fail criteria, inspection plans, and others) to make sure all products meet standard quality control criteria.
The tool enables businesses to minimize the manual labor involved in the quality management process while observing stringent quality maintenance standards.
Key Features:
- Ability to define custom quality standards
- Ability to define custom inspection plans
- Real-time monitoring of inspection results
- Ensure implementation of strict pass/fail criteria to follow a uniform quality standard
- Integrated reporting for non-conformance
Why NetSuite for the Manufacturing Industry?
The manufacturing industry is inherently complex, involving multi-layered processes and intricate regulations for compliance. To make things even more complicated, manufacturing businesses have to follow a complex set of operations, along with the handling of various other complex functions like supply chain/logistics, marketing, distribution, and others, making it even harder for businesses to keep up the productivity for business growth. To be able to cope up with all these complex requirements, manufacturing businesses need a robust ERP solution that can handle various business functions and automate workflow processes.
That’s where the NetSuite ERP for manufacturing comes to the rescue…
The leading ERP software brings manufacturing businesses all the advanced features and specialist tools they need to manage various business processes. The NetSuite manufacturing is a separate module offered in the NetSuite ERP, meant to accommodate the unique needs of the manufacturing industry. It’s one of the most powerful ERP solutions to enable manufacturing businesses to tackle all unique challenges and redefine the success journey.
Here’s how NetSuite advance manufacturing ERP solution benefit the manufacturing businesses;
- Enable businesses to lower the IT support costs
- Enable businesses to reduce the resource costs
- Improve the customer support services
- Help increase productivity
- Enable complete control over compliance requirements
- Offer higher levels of flexibility and agility
- Speeds up the process of financial close
Here are some benefits of implementing NetSuite ERP for the manufacturing industry;
- Establish your brand
- Manage businesses globally across multiple locations
- Accelerate business growth
- Enhance the operational platforms
Folio3 is Your Best NetSuite for a Manufacturing Industry Partner
Are you ready to expand your manufacturing business to new horizons?
Well, with the NetSuite advance manufacturing ERP solution, manufacturing businesses no longer have to rely on manual processes to manage operations and collect information. The platform gives businesses brings advanced tools to help businesses automate the entire workflow processes and operations for increased efficiency, enhanced productivity, and increased profits.
As a Certified NetSuite Implementation partner, with over a decade of NetSuite integration experience, and with hundreds of successful NetSuite customization projects under its belt, Folio3 is the global leader for NetSuite implementation services for businesses.
Over the years we have offered NetSuite integration, and customization services to a variety of manufacturing businesses, thus we have the right expertise, experience, and resources that are required to help your manufacturing business succeed.
