Warehouse /
Inventory Management

What is NetSuite Inventory Management?

NetSuite Inventory Management provides a single, real-time view of inventory across all locations and sales channels, allowing businesses to reduce inventory on hand to free up cash while avoiding stockouts. By optimizing inventory levels and ensuring product availability across multiple channels, NetSuite Inventory Management helps businesses keep inventory costs low while exceeding customer expectations. NetSuite financial management seamlessly integrates with all NetSuite order management, inventory, CRM and ecommerce functions to streamline critical business processes.

Automate Inventory Tracking

Relying on spreadsheets or pen and paper to track inventory is neither efficient nor accurate. With NetSuite, your business can easily track inventory across multiple locations by automating inventory management in one unified solution.

Ultimate Inventory Visibility

Real-time, company-wide inventory visibility — across warehouses, retail stores, pop-up shops, drop shippers, 3PLs or any other place where you manage or stock inventory — is key to enabling a buy anywhere, fulfill anywhere customer experience.

Benefits

Optimize Inventory Levels

Demand-based planning using historical demand, sales forecasts and seasonality ensures you have the right amount of stock.

Boost Profitability

Managing inventory is more efficient and cost-effective with company-wide inventory visibility.

Decrease Cost of Goods Sold

Intelligent fulfillment minimizes handling expenses and reduces shipping costs.

Automate inventory management, reduce handling costs, optimize cash flow

NetSuite Inventory Management Features

NetSuite Inventory Management minimizes manual processes by automatically tracking inventory levels, orders and sales throughout the inventory life cycle, and provides the insights needed to make data-driven decisions and clear visibility into any inventory liabilities, like excess or slow-moving stock.

Challenges NetSuite Inventory Management Solves

  • Manual Reporting. Inaccurate, time-consuming inventory reporting will be a problem of the past.
  • Inefficient Utilization. No longer worry about having excess inventory in one location while another location is out of stock.
  • Inaccurate Planning. Minimize the problems that result from poor planning, like stockouts, excess inventory, increased discounting and write-offs.
  • Excessive Handling. Eliminate unnecessary handling that increases cost of goods sold (COGS).
  • Lack of Visibility. Inability to track and trace a product from supplier to customer order will no longer be a concern

Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

How Much Does NetSuite Order Management Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

How do I add inventory to NetSuite?

To add an inventory item in NetSuite, you must create the inventory item record, defining the item’s unique characteristics, including: units of measure, how you cost items (FIFO, LIFO, average, etc.), landed cost and replenishment method, set list price and discount price, as well as COGS.

Inventory control refers to a business’ ability to secure the required stock to fulfill anticipated orders without delay, while keeping inventory carrying costs to a minimum.

Adjusting inventory in NetSuite can be done individually for that item or in bulk using the inventory worksheet. You can update item quantities individually in the Transaction menu, but changes to the inventory record such as value, unit cost, etc., must be done in the item master.