Solution in NetSuite:
- Real-Time Inventory Management: Use NetSuite’s Inventory Management module to track stock levels across all locations in real time. Enable the “Multi-Location Inventory” feature by navigating to Setup > Company > Enable Features > Items & Inventory and checking “Multi-Location Inventory.”
- Automated Replenishment: Set up demand-based replenishment rules under Lists > Supply Chain > Demand Planning. Define minimum and maximum stock levels to trigger automatic purchase orders when inventory dips below thresholds.
- Dashboard Visibility: Create a custom dashboard (Customization > SuiteBuilder > Dashboards) with KPIs like “Inventory Turnover” and “Stock on Hand” to monitor inventory health instantly.
- Outcome: Reduced stock discrepancies, faster order fulfillment, and lower carrying costs due to optimized stock levels.