Oracle NetSuite Inventory Management system provides simple and accurate inventory features for many businesses to make better and faster decisions. This type of solution allows you to highly control inventory including logistics, operations and finance in multiple locations from your favourite device on real-time information. Oracle NetSuite Inventory Management platform also helps businesses to reduce errors and improve efficiency without wasting resources on data extraction.
Features for Inventory Management:
When it comes to product monitoring through different sites, NetSuite has a few features that are exclusive. These locations can then be divided into bins for a more comprehensive monitoring system.
Key Capabilities :
– Hierarchical location definitions
– Bin Tracking
– Multi-location tracking
- Cycle Counting
The Inventory Count feature in NetSuite helps you keep track of your inventory and allows you more leverage over your assets. You can categorize inventory using this function based on business requirements.
– Accuracy in-stock level
– Items to be counted will be prompt automatically
– Item categorization
Stock and assembly products may be tracked by lot or serial number. To ensure traceability, the system will capture and identification of all relevant details on each transaction. You can display your inventory by lot or serial number on the inventory information panel, and drill-down capabilities allow you easy access to all relevant transactions.
It’s crucial to have the correct amount of inventory on hand to meet service quality demands. You can define the preferred stocking ranges, lead times, and re-order points can all be determined automatically in the system, with recommendations appearing in the order products list almost immediately.
Read our blog about 5 benefits of Cloud ERP.