Why manufacturing companies choose NetSuite

Manufacturing companies need ERP solutions that streamline complex processes, enhance productivity, and address their unique production needs. Many manufacturing companies choose NetSuite because it offers industry-specific tools designed to optimize inventory, improve production scheduling, enhance supply chain visibility, and more—effectively addressing the unique challenges of the industry.

NetSuite offers several industry-specific versions, including SuiteSuccess Manufacturing—a solution designed specifically for manufacturing. This specialization, along with powerful manufacturing tools and real-time data capabilities, makes NetSuite an ideal ERP choice for manufacturers. In this blog, we’ll explore the reasons why NetSuite is a preferred ERP solution in the manufacturing sector.

Manufacturers choose NetSuite because it is sold in industry specific editions called SuiteSuccess. SuiteSuccess Manufacturing offers a complete set of tools tailored to the manufacturing industry. This tailored solution includes modules for production management, inventory tracking, and work order management, all designed to address the unique challenges of manufacturing. With pre-configured KPIs, workflows, and dashboards, SuiteSuccess Manufacturing enables companies to get up and running quickly while maximizing efficiency and productivity from day one.

• Pre-configured workflows: Built specifically for manufacturing workflows, reducing setup time.
• Industry KPIs: Offers real-time access to key performance metrics specific to manufacturing, such as production efficiency and inventory turnover.
• Faster implementation: Facilitates quicker deployment and a rapid return on investment with pre-built industry modules.
• Quality assurance: Built-in compliance and quality management tools maintain regulatory standards.

Manufacturing companies rely on NetSuite for its advanced production management tools, which effectively streamline work order creation, bill of materials (BOM) management, and assembly tracking. The SuiteSuccess Manufacturing edition enhances these capabilities with specialized modules designed to manage production cycles efficiently, allowing manufacturers to optimize resources and meet production targets without delays. With tools that facilitate accurate production planning and execution, NetSuite helps companies navigate complex manufacturing workflows and ensure timely delivery of products.

• Work orders and assemblies: Simplifies the creation and tracking of complex, multi-level work orders, enhancing workflow efficiency.
• Bill of materials (BOM): Organizes and manages BOMs to support multi-level assemblies, ensuring accurate production and assembly builds.
• Production scheduling: Automates scheduling processes to reduce bottlenecks and keep production on track, improving overall workflow.

Real-time inventory control is essential for manufacturers, and NetSuite’s advanced inventory management capabilities delivers comprehensive visibility into stock levels across multiple sites. This powerful solution enhances inventory management by integrating forecasting tools, automated demand planning, and multi-location tracking, enabling manufacturers to optimize inventory levels and mitigate the risks of stockouts or overstock situations. With these capabilities, manufacturers can effectively manage their raw materials and finished goods, ensuring operational efficiency and reduced overhead costs.

• Forecasting and demand planning: Provides accurate predictions for inventory replenishment based on historical data, allowing for proactive management of stock levels.
• Multi-location inventory management: Tracks stock across various locations and warehouses for efficient allocation and distribution.
• Automated replenishment: Ensures inventory is readily available when needed, minimizing manual intervention and reducing the risk of stockouts.

NetSuite’s Intelligent Order Management helps manufacturers streamline order processing and improve fulfillment accuracy. By automating key processes like order promising, allocation, orchestration, and execution, it ensures orders are efficiently fulfilled based on real-time inventory availability and business rules. This reduces manual errors, improves speed, and enhances customer satisfaction, all while optimizing labor costs. NetSuite integrates order-to-cash processes, providing a seamless workflow to manage orders from creation to delivery.

• Automated order processing: Reduces manual entry, streamlining fulfillment and accelerating order completion.
• Real-time order tracking: Provides up-to-the-minute status updates, enhancing visibility for both customers and staff.
• Improved fulfillment accuracy: Ensures the right products are delivered on time, minimizing errors.
• Integrated order-to-cash: Unifies order creation, billing, and payment processes in a single system for seamless operations.
• Smart workflows: Automates approvals, pricing, and discounting, delivering a consistent experience for customers.

Producing high-quality products requires intentional design and rigorous quality management practices. NetSuite helps companies achieve exceptional quality while minimizing overhead through defined inspection plans, pass/fail criteria, and comprehensive results tracking. By automating quality checks and effectively managing defect incidents, manufacturers can enhance product quality and streamline processes, ultimately reducing costs. Manufacturers prioritize NetSuite for its robust quality management tools that promote operational efficiency and product consistency.

Key features of NetSuite’s quality management capabilities include:

• Quality check scheduling: Enables automated scheduling of inspections throughout the production process, promoting consistent quality.
• Defect tracking: Manages quality incidents effectively, reducing errors and enhancing product output.
• Real-time monitoring: Provides immediate access to inspection results, allowing for quick adjustments and improvements.
• Reporting tools: Offers insights into quality trends and performance metrics, supporting continuous improvement initiatives.

NetSuite helps manufacturers take control of their entire supply chain, including outsourced production processes, by providing a unified, global view of inventory. Whether products are made in-house or by third-party vendors, NetSuite ensures companies can manage their production and inventory seamlessly. With real-time inventory visibility, demand planning, and distribution requirements planning (DRP), manufacturers can improve efficiency, reduce lead times, and ensure resources are effectively allocated.

Key features of NetSuite’s supply chain management include:

• Demand and supply planning: Aligns production schedules with demand forecasts to optimize inventory.
• Capacity planning: Ensures production capacity is balanced with demand to prevent bottlenecks.
• Distribution requirements planning (DRP): Optimizes product delivery across multiple locations to ensure timely fulfillment.
• Real-time supply chain updates: Provides live data to adjust production schedules based on supplier availability.
• Production optimization: Aligns production resources effectively to meet demand and improve efficiency.

NetSuite’s real-time reporting and analytics provide manufacturers with crucial insights to optimize their processes and drive continuous improvement. With access to live data, manufacturers can monitor key performance indicators (KPIs), identify trends, and quickly adjust production strategies based on up-to-date information. NetSuite’s SuiteAnalytics enables manufacturers to consolidate data from various sources, giving them a complete view of their operations and empowering decision-makers to act swiftly and strategically. This enhances production efficiency, inventory management, and overall operational performance.

• Real-time production metrics: Track production efficiency and performance indicators in real-time.
• Inventory optimization reports: Gain visibility into inventory turnover rates to optimize stock levels.
• Custom dashboards: Tailor views to display critical data and improve decision-making speed.
• Proactive adjustments: Make data-driven decisions and implement changes to improve manufacturing efficiency.

Manufacturing companies choose NetSuite for its tailored industry-specific capabilities that streamline operations and improve production efficiency. From advanced production and inventory management to robust quality control and real-time analytics, NetSuite provides everything manufacturers need to manage their operations efficiently. With NetSuite’s ERP system, manufacturers gain a platform that is not only scalable but also tailored to the unique demands of production, quality assurance, and supply chain management. To learn more about how NetSuite’s manufacturing capabilities, contact Rand Group today.