Tag: Inventory

Understanding Preferred Stock Level and Safety Stock in NetSuite Inventory Management

Safety Stock Safety Stock is the buffer inventory kept to protect against uncertainties in demand or supply. It’s not meant to be sold immediately but to cover unexpected spikes in demand or delays in replenishment. It prevents stockouts during supplier delays or demand surges Maintains customer satisfaction and service levels In NetSuite, you can define… Continue reading Understanding Preferred Stock Level and Safety Stock in NetSuite Inventory Management

NetSuite’s Game-Changing Role in Modern Inventory Management

Inventory management is the backbone of any business dealing with physical products. Inaccurate tracking, stockouts, or excess inventory can cost companies time and money. NetSuite’s recent innovations are helping businesses optimize their inventory processes, ensuring efficiency, accuracy, and profitability. 1. Real-Time Inventory Insights NetSuite’s advanced analytics tools provide businesses with real-time inventory tracking across multiple… Continue reading NetSuite’s Game-Changing Role in Modern Inventory Management

Landed Cost Subrecord

Efficient inventory management is essential for businesses to maintain profitability and financial clarity. In NetSuite, the Landed Cost subrecord is used to allocate additional costs to inventory items beyond the purchase price. Landed costs often include expenses like freight fees, import fees, insurance, taxes, shipping charges, handling charges and other fees incurred to bring goods… Continue reading Landed Cost Subrecord

Current Inventory Snapshot Report

The Current Inventory Snapshot report provides a snapshot of real-time inventory data. You can use it to monitor inventory levels and determine ordering schedules. The Current Inventory Snapshot report can help you pinpoint which items are low on stock and place orders accordingly. For each inventory item, this report lists the item name, description, and… Continue reading Current Inventory Snapshot Report

Create a Stand-Alone Invoice/Cash Sale without Affecting Inventory

Scenario For instance, if we want to create a standalone Cash Sale or Invoice transaction without having it affect the inventory count or the Cost of Goods Sold. Solution To create standalone Invoices or Cash Sales without having it affect our inventory count or our Cost of Goods Sold, we can set the quantity of the transaction to zero (0). Since it is a… Continue reading Create a Stand-Alone Invoice/Cash Sale without Affecting Inventory

Advanced Inventory Managment Deliverables

Inventory Management ** Matrix Items: automatically manage multiple item options ** Serialized Inventory ** Bar Coding: items and transactions ** Lot Management ** Pick, Pack, Ship ** Automated Reorder Point / Lead Time Calculations ** Workflow to process warranty claims and to refund, replace or repair returned items ** Printable forms for better supply chain… Continue reading Advanced Inventory Managment Deliverables

Inventory Flexibility with NetSuite’s Multiple Units of Measure Feature

Client Request: “We require a system that provides flexibility in managing our inventory by allowing us to define various units for stocking, purchasing, and selling inventory items. Additionally, we need the capability to track non-monetary accounts to ensure comprehensive financial monitoring. Can you provide a solution for these requirements?” Solution: Feature: MULTIPLE UNITS OF MEASURE… Continue reading Inventory Flexibility with NetSuite’s Multiple Units of Measure Feature

10 Easy Tips to Avoid NetSuite Negative Inventory

To avoid NetSuite negative inventory, the best thing to do is to map out your inventory management processes to find the points of concern. Here are 10 easy tips that can help once that is done: Create a warning for an item that is not in stock when entering a sales transaction. Create Item Receipts… Continue reading 10 Easy Tips to Avoid NetSuite Negative Inventory