wholesale distribution

2015.2 for Wholesale Distributors & Manufacturers

The latest version of NetSuite which will be rolled out to all users in the next few months includes three features specifically targeted to meet the needs of Wholesale Distributors and Manufacturers.

Group Average Costing

Group average costing enables you to track one average cost for an item across multiple locations within a defined group.

Group average costing is available only when you have enabled the Multi-Location Inventory feature. Group average costing is available for inventory items and assembly items.

Each time an inventory related transaction with costing impact is processed for a location costing group member, a group average cost is recalculated. The single average cost is calculated by dividing the total inventory value across locations by the total quantity across all locations. This calculated cost is synced within the group and is used in costing calculations for all locations.

All inventory and assembly items within a location that are assigned the Group Average costing method are included in the location costing group assigned to that location.

If an item is assigned the Group Average costing method, but one or more of its locations are not included in a costing group, then for those locations, the item’s costing method is effectively Average, not Group Average because no grouping calculations are done for those locations.

New procurement dashboard

Whilst NetSuite allows for and provides the tools to allow the creation of any role with specific authorities and a user designed dashboard it is more straightforward requiring less thought or work to use ‘out-of-the-box’ roles and dashboards.

This dashboard gives KPIs, reminders, reports and searches specific to procurement, allowing a procurement manager to then drill down into any areas causing concern or requiring action. Examples of what are provided: vendors’ on-time delivery performance or reminders when purchase contracts get close to expiration.

Simpler requisitions for dealing with preferred vendors

 

The order requisitions page will now be populated with all pre-approved vendor contracts with associated pricing to enable a buyer to select the best vendor for any one order. For an item that does not have a preferred vendor, alternative items can be shown that do have a preferred vendor to ensure that a buyer always has the information available to purchase the most cost-effective item.

Order Requisition Enhancements

Previously, the Order Requisitions page grouped requisition lines on a purchase order based on all requisition lines having the same transaction date.

Now, on the Order Requisitions page, you can add multiple order lines to a purchase order regardless of the entry date or expected receipt date. The number of lines consolidated onto a single purchase order is limited only by the maximum identified in the Maximum Requisition Lines to Consolidate preference.

Improved warranty and repair

NetSuite now support the processing of warranties associated with items sold through indirect channels. Previously this was only possible through a third party product or bespoke addition to NetSuite. Information about warranty registrations can be added either manually or via an import feature.

The process of managing warranties has also been simplified in terms of both finding a warranty quickly and entering it, reducing the need to re-enter information.