Supplier and Purchase Management

NetSuite provides a complete online system for managing suppliers and processing purchases from requisition through to payment. The flexible purchase order module offers a standard approval process plus a workflow tool (SuiteFlow) to enable businesses to tailor approval processes for ordering and payment for different suppliers or types of purchase.

Suppliers can be categorised in whatever way suits the business and the categories built into the approval processes if appropriate. The system handles a variety of types of supplier for example where a supplier has a head office and multiple branches, the system can record all this detail together with an unlimited number and type of contact with their associated details. Suppliers can be given access to the system through the Vendor Centre, as specified by the business, to enable them to see information relevant to them and help to maintain the relationship.

A variety of types of purchase can be managed by the system: physical items bought for stock or business use, software or other non-tangible resource or people costs, for example consultants or professional services. Products that need to be regularly supplied can bypass the purchase requisition and approval phase, requiring only approval from the purchasing manager based upon suggested purchases generated by the system. Subscription payments can be recorded and optionally automatically renewed. Purchases made for a specified customer can be recorded at purchase order stage to update the costs associated with that project at the total purchase order or line level.

Supplier details can be added or amended when a purchase requisition or order is created thus simplifying the process. Once approved the purchase order can be emailed, printed or faxed to the supplier, with relevant contact details and any appropriate message. Stock Items can be recorded as sourced from multiple suppliers and suppliers and/or stock items can be allocated to default cost centres to reduce the risk of coding incorrectly.

On receipt of the goods, NetSuite can record excess, part deliveries or damaged goods with options as to how to handle themo. For those instances where a supplier has satisfied multiple purchase orders in one delivery bulk purchase orders can be checked to minimise the check-in time for new stock.

The system records details of terms offered by the supplier including discounts. When the payment is processed details of discounts actual taken can be checked to ensure the business is taking advantage of the terms negotiated with the supplier. Payments can be by cheque (which can be printed by the system), credit card or bank transfer.