Manufacturers: NetSuite 2020 Release 1 Helps Increase Control and Visibility for Greater Supply Chain Management
Manufacturing has transformed from a somewhat simple, straightforward industry to a complex, complicated behemoth. Itâ€™s a struggle to stay abreast of the latest developments.
For one, manufacturers canâ€™t make a product alone and call it a day. Dell doesnâ€™t just make a handful of different types of computers anymore: the company manufactures servers, data storage devices, network switches, cameras and printers, to name a few.
Many manufacturers are dipping their toes into expanded lines of business as well. When jewelry manufacturer Soko launched, it sold jewelry from Nairobi globally, but now the company sells its products direct-to-consumer online and offline, creates large quantities for major retailers, and even sells its own supply chain tech in the form of Manufacturing-as-a-Service (MaaS).
Given the increased complexity of manufacturing, a failure at any point in the process can generate massive losses. NetSuiteâ€™s 2020 Release 1 continues to improve both visibility and control over production activities with the addition of expanded outsourcing, a new mobile interface and enhanced quality management:
- Extended capabilities of the Intelligent Predicted Risks functionality now takes transfer orders and compares them to historical data to determine when a delivery may be at risk. Recommended actions to take are also provided to avoid a late delivery.
- What-if simulations can be created with the projected risksÂ to see how they may impact future transactions. If a manufacturer is experiencing delays from a specific location or vendor, the company can project the impact on its supply chain and make adjustments before delays occur.
- With the new Supply Chain SuiteAnalytics Workbook, manufactures can efficiently analyze supply-demand imbalances.
- Many companies utilize third parties to manufacture their products, which can make communication challenging. Now, with the ability to automatically create work orders when placing a purchase order on your contract manufacturer activities, itâ€™s easier to track the progress of the manufacturing process and the consumption of inventory.
- Â Without centralized, accurate data, it can be difficult to get a handle on production efficiency. Manufacturers can now automatically calculate start and end production dates on work orders, based on pre-configured manufacturing tasks. Users will be able to segment efficiency data by product, class, manufacturing location and subsidiary, and then develop accurate recommendations for operational improvements.
- The introduction of order allocation exceptions management alerts users to orders that may be delivered late due to their current allocation. Users can then review alternate allocations and see how any related orders might be impacted by the change.
- Effective sampling is critical to maintain quality standards, lower inspection processing times and reducing overall costs. The Quality ManagementÂ application can now handle much larger volumes of data, further speeding up the sampling process. Inspectors will find it easier than ever to capture information in real-time through the tablet application which has been updated with a new grid entry interface.
- With NetSuiteâ€™s new mobileÂ application for manufacturing, employees on the shop floor can easily enter data via mobile devices. Users can record completions, consume inventory and even add new fields with codeless customization.
- The new manufacturing date tracking lets users uncover operational improvement opportunities. Manufacturers can easily measure and analyze production efficiency with actual production date tracking in work orders.
Learn More About NetSuite 2020 Release 1
These are just the highlights; there’s much more for manufacturing companies in NetSuite 2020 Release 1 than canâ€™t be covered in a single blog post. For more specifics on the complete list and details of all the new features in the release, be sure to read theÂ Release Notes.
New to the release process? Learn more about it here.
Finally, be sure to request access to your Release Preview account when it becomes available. There, you’ll be able to see how the new features will work with your own data and get a jumpstart on maximizing the impact of NetSuite 2020 Release 1.