NetSuite WholeSale Distribution: Enhancements in v21.2.0
At the previous article we have discussed some other features NetSuite has enhanced in 2021.2. Today we will discuss another major feature enhancements: WholeSale Distribution.
Supply Planning Enhancements
NetSuite introduced the Supply Planning Workbench last year and has been adding to its functionality with each release. NetSuite has advanced supply planning capabilities, like the hierarchical pegging view which, along with the handy Supply Planning Workbench, equip planners with the tools they need to manage their dynamic business environment.
With 2021.2 there will be a new option in the Supply Planning Workbench, allowing the planner to display planning results in daily, weekly/monthly periods — thus enabling more dynamic forecasting to shift strategies on the fly. The planner will exclude previously rejected recommendations to avoid confusion when creating the forecast, and control how far back the planning engine will look for past due, unconsumed forecasts.
Furthermore, this release will bring an enhancement in allocation functionality which will enable planners to map and prioritise inventory allocation to sales orders by gross profit or revenue. There will be a feature to provide the earliest date an item will be in stock/available at any specific location, enabling planners to be more accurate when setting expectations. The calculation of the earliest available date will consider supply chain lead times, any supply allocation strategies set, as well as sales channel allocations and reservations. When reallocating orders, planners will get deeper insight into how those changes will affect allocations on other transactions.
With the new release, NetSuite will generate a certificate of analysis for any item in the system, configurable to the needs of each customer, enabling wholesale distributors to meet and exceed customers’ quality and compliance standards. Users will print the certificate directly from NetSuite for attachment during shipment, with a saved electronic copy easily accessible for future reference.
Joined Up Customer Experience
More and more, it is becoming important for wholesale distributors to optimise the ecommerce experience they offer their customers, particularly as more and more distributors are also selling directly to consumers. To answer the concerns, there are enhancements expected in 2021.2 that will make even quicker and easier optimisation in implementing NetSuite’s ecommerce module ‘SuiteCommerce’, alleviating the time consumed to set up an ecommerce website considerably.
A further new feature in the upcoming release that will enhance the customer experience is a new payment link feature, which will allow wholesale distributors to email invoices to their customers with a link to an online payment portal, thus allowing them to pay their invoice with a credit or debit card. NetSuite will subsequently record invoices as paid partially or in full.
In addition, companies will give their customers the ability to pay invoices by ACH electronic payments via SuiteCommerce, so that payment processing is fast and without fees.
Inventory Management Enhancements