What is NetSuite Warehouse Management?
NetSuite Warehouse Management is a warehouse operation simplification and optimization solution that runs on the internet developed by NetSuite for all sizes of warehouses and third-party logistics houses. This system provides real-time information regarding inventory levels as well as sales. For example, it can manage stock levels, warehousing space, which orders to prioritize during peak periods among other aspects. It has lot and serial number control; cycle counting; inventory valuation using different costing methods etc. The receiving stocks can be put away according to several picking strategies, or simply select items from a pick face list located at the front end of an order to fill up a customer order pick, or even issue out items for another reason before any shipping takes place on the back end.
Key Features of NetSuite Warehouse Management
• Inbound Logistics
Effectively control inbound stock with powerful receiving procedures. This ensures fast and seamless inclusion of new items into your warehouse ecosystem as you generate automated put-away worksheets and labels for efficient put away operations.
• Order Fulfillment:
Smart order fulfillment capabilities to optimize outbound logistics. Wave/batch picking methodologies streamline order consolidation while cartonization logic maximizes packaging efficiency. Hassle free shipment processing is facilitated through seamless carrier integration.
• Mobile Warehouse Management:
Mobile device support that empowers the warehouse staff with the latest technology. Consequently, operational agility and accuracy are enhanced as the real-time transactions and inventory updates on-the-go are done. Unlocking workforce’s full potential requires elimination of constraints associated with stationary workstations.
• Bin Management:
Keep careful inventory control with advanced bin locator capabilities. Using designated bins, stocks can be tracked and retrieved easily, ensuring maximum space utilization in addition to minimizing potential bottlenecks. This will help to promote a productive warehouse environment.
• Cycle Counting:
Ensure the accuracy of stock inventories through comprehensive cycle counting abilities. Auditing stock levels against recorded quantities at regular intervals would help in identifying discrepancies quickly for timely rectification. This will also preserve the integrity of records and prevent costly inventory mistakes.
Types of warehouse management systems (WMS)
1. Standalone WMS:
Standalone warehouse management systems are software programs that perform warehouse management operations. These programs offer complete inventory, order processing, and warehouse functionality such as receiving, put away, picking, packing and shipping. Although they may link with other systems, these applications are self-contained. A standalone WMS has a lot of customization features to match all the warehouses’ individual needs and is capable of being adjusted according to the specific organization’s workflows.
2. Cloud WMS:
They are stored and distributed in the form of software-as-a-service (SaaS) solutions on the internet. They give rise to scalability, availability and lower initial costs in comparison to on-premises alternatives. For instance, cloud WMS tends to be cheaper and easier to employ than traditional WMS. They also have automatic updates as well as maintenance handled by the vendor. On top of that, those businesses that prefer a flexible subscription-based pricing model without investing in on-premises infrastructure can choose cloud WMS solutions.
3. ERP and SCM Integrated WMS:
This kind of warehouse management system (WMS) is provided in the form of a module or component within an enterprise resource planning (ERP) software or supply chain management (SCM) supply chain management (SCM) suite. These solutions are well integrated with modules like inventory management, order management, and financials hence giving one view of the business as far as its operations are concerned and also allowing for smooth data flow. These WMS solutions which have been based on SCM systems have helped organizations to manage their overall operations since they can be easily integrated into existing ERP or SCM systems for uniform data flow and processes.
Key Benefits of Warehouse Management systems:
• Better Data Capture/Record Keeping and Accuracy:
By the NetSuite WMS, data entry has been simplified by capturing details through mobile devices during the receiving process and this minimizes errors and ensures you possess accurate information regarding your inventory.
• Greater stock Visibility:
You can access a real-time view of your stock using NetSuite WMS. This enables you to know where all items are within the store; this starts from when they arrive in the organization’s stores to shipping stage. Your inventory management is optimized through greater visibility which helps you prevent stock-outs.
• Optimum Space Use:
With NetSuite WMS, you can use your warehouse space effectively by suggesting the best storage location for different types of products thereby reducing waste area and improving picking efficiency.
• Elevating Efficiency of Workforce:
NetSuite WMS, through mobile devices given to staff, guarantees that warehouse workers are taken through such duties as receipt, put-away, pick and pack. This eliminates the needs for paper picking lists which reduces task completion time.
• Increased Order Fill Rates and Accuracy:
If you want to enhance your order fill rates and accuracy by improving on picking efficiency and reducing errors choose NetSuite WMS. Such a development results in more satisfied customers with fewer returns.
• Lower Costs:
Increased efficiencies and improved accuracies you get from NetSuite WMS can lead to reduction in total warehouse costs. You will spend less on labor, inventory carrying costs as well as transportation.
Key Features of NetSuite Warehouse Management (WMS)
1. Mobile Warehouse Management:
NetSuite WMS offers a mobile app that allows warehouse workers to perform tasks such as receiving, put away, picking, packing, and shipping using mobile devices. This eliminates the need for paper-based processes and reduces errors.
2. Inbound Processing:
NetSuite WMS streamlines the inbound process with features like advanced receiving, which allows for efficient handling of returns and restocking. It also supports barcode scanning for faster and more accurate data capture.
3. Inventory Management:
NetSuite WMS provides real-time inventory visibility, allowing you to track inventory levels across multiple locations. You can also configure cycle counting plans to maintain inventory accuracy.
4. Warehouse Configuration:
NetSuite WMS allows you to define storage locations, picking strategies, and bin blocking rules to optimize your warehouse layout and picking efficiency.
5. Order Fulfillment:
NetSuite WMS offers features to streamline order fulfillment, such as wave picking, which groups multiple orders together for efficient picking. You can also integrate NetSuite WMS with your ecommerce platform for seamless order processing.
6. Advanced Inventory Features:
NetSuite WMS supports advanced inventory features like serial number tracking, lot tracking, and bin location management. This allows you to track specific items and ensure proper stock rotation.
7. Scalability:
NetSuite WMS is a scalable solution that can grow with your business. You can add new features and functionality as your warehouse needs evolve.
8. Integration:
BOOST MULTI-LOCATIONS OPERATIONS
Frequently Asked Questions (FAQs)
Every size of business can gain from using NetSuite WMS but most especially those whose warehouse efficiency, inventory accuracy and order fulfillment speed needs to be enhanced. It is very good for companies with warehouses that have become complex or that are growing.
There are numerous benefits attached to using NetSuite WMS like; improved data capture and accuracy, better visibility of inventory, optimal space utilization, increased labor productivity, high order fill rates and lower overall warehouse costs.
The price tag on NetSuite WMS depends on several factors including the number of users needed to accommodate the features needed by your organization and how big your warehouse operation is. NetSuite employs a quote-based pricing model.
NetSuite has strict measures put in place to ensure that all our data is secure including user verification, encryption and regular backups.
NetSuite WMS is cloud-based; therefore, no additional hardware is required from your end. However, you will require mobile devices such as barcode scanners or tablets to enable warehouse workers to use the features of the mobile app.