Warehouse employee using a laptop to monitor stock levels – showcasing NetSuite ERP benefits for smarter inventory management in a modern distribution centre.

Unlock Real-Time Visibility: NetSuite ERP Benefits for Smarter Inventory Management

NetSuite Wholesale DistributionWholesale Distribution - Solutions
Warehouse employee using a laptop to monitor stock levels – showcasing NetSuite ERP benefits for smarter inventory management in a modern distribution centre.
  • NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

By Naren Sompalli, Consultant at OSSM  

As a consultant working at OSSM, I’ve had the opportunity to support a wide range of wholesale and distribution businesses in optimising their inventory operations. With years of experience guiding organisations through system implementations and process improvements, I’ve seen firsthand how inventory challenges – such as fluctuating demand, supply chain complexity, and limited visibility can severely impact operational efficiency and business growth. 

This blog brings together my practical knowledge and on-the-ground experience with NetSuite Inventory Management to help distribution teams better understand how the right technology can transform stock control, fulfilment, and forecasting. It’s written for those navigating the pressures of modern distribution – where the need for real-time accuracy, integration, and responsiveness is greater than ever. 

As part of OSSM’s commitment to sharing practical insights, I’ll also be speaking during this month’s Masterclass on Inventory Management in NetSuite. This session is part of our Strategic NetSuite Learning Series, designed to help users extract more value from their ERP investment. 

Let’s explore what real-time inventory visibility really means, and why it matters now more than ever. 

What does real-time inventory visibility really mean? 

Inventory sits at the core of every distribution business. It affects how you fulfil customer expectations, manage supplier relationships, and track profitability. Yet for many organisations, inventory data is either incomplete, delayed, or spread across multiple systems – resulting in inefficiencies and avoidable risks. 

NetSuite Inventory Management provides real-time visibility across your entire inventory lifecycle. It enables businesses to track stock accurately across multiple locations; warehouses, stores, remote depots – all within a single cloud-based system. The ability to manage stock availability, movement, and valuation in real time means fewer errors, improved decision-making, and more reliable fulfilment performance. 

With NetSuite’s dashboards, businesses gain immediate insight into inventory levels, reorder points, trends, and financial impact. This eliminates the need for disconnected spreadsheets or manual reconciliations and empowers both operational and financial teams with consistent, reliable data. 

What we’ll cover in the Masterclass 

The upcoming Masterclass is designed to provide practical guidance – not just theory, on how to apply NetSuite’s tools in real business scenarios. During the session, we’ll walk attendees through several essential areas, including: 

Stock adjustments and imports 
Learn how to manage inventory updates efficiently and how to handle bulk data imports when introducing new product lines or updating quantities across sites. 

Traceability 
We’ll cover how to use batch and serial number tracking to improve traceability and compliance – particularly useful for regulated or perishable goods. 

Manual and WMS-Based stock takes 
Whether you’re using basic NetSuite inventory functionality or the full Warehouse Management System (WMS), regular stock counts remain critical. We’ll explore how to manage both physical and system-based stock takes. 

Accounting integration 
Discover how NetSuite connects inventory movements directly to your financial system – ensuring accurate valuation, cost reporting, and real-time accounting alignment. 

These are not just features – they are tools that can be tailored to fit your specific workflows and operational challenges. 

Why inventory management matters more than ever 

In today’s distribution landscape, delays, miscounts, and poor stock visibility aren’t just operational issues – they impact your bottom line. Businesses still relying on manual systems or fragmented software often face frequent stockouts, excess stock holdings, lost sales, and limited scalability. 

NetSuite changes this by offering a unified platform that brings inventory, finance, procurement, and fulfilment into one environment. This eliminates silos and introduces automation, real-time reporting, and role-based visibility across departments. 

During the Masterclass, we’ll also discuss how NetSuite supports: 

Automated procurement processes 
Automatically generate purchase orders when stock hits defined thresholds. Set preferred vendors, review lead times, and maintain healthy stock levels without overbuying. 

Improved demand planning 
Use historical data and seasonal trends to forecast demand more accurately, reduce manual calculations, and proactively manage stock replenishment. 

Streamlined fulfilment 
Ensure that once an order is placed, the fulfilment process runs smoothly; right through picking, packing, and delivery – while maintaining full visibility into status and exceptions. 

This combination of real-time data, automation, and integration allows businesses to scale confidently while meeting service-level expectations. 

NetSuite for Wholesale Distribution: More than just inventory tracking  

NetSuite’s Inventory Management capabilities are part of a broader ecosystem purpose-built for distributors. It connects the dots between customer orders, supplier deliveries, warehouse operations, and financial management. 

With NetSuite, you’re not simply logging stock in and out – you’re building a more responsive, connected business. Real-time dashboards let your teams see what matters most. For operations, that could be inventory turnover or picking accuracy. For finance, it’s inventory valuation and margin impact. For leadership, it’s about having one version of the truth. 

For distribution businesses aiming to future-proof operations, NetSuite provides a system that adapts to complexity, supports growth, and reduces manual effort at every stage. 

Our commitment at OSSM as NetSuite consulting partners    

As NetSuite consulting partners, OSSM is committed to helping UK and Irish distributors implement NetSuite in a way that reflects their unique needs and business processes. We don’t just focus on system configuration – we work with your team to simplify workflows, eliminate bottlenecks, and unlock lasting value. 

From managing multi-site warehousing and stock reordering to integrating WMS features and mobile scanning, our team brings experience across every facet of inventory and ERP implementation. 

We’re proud to partner with businesses to ensure their system works the way it should – from day one and long after go-live. 

Register for the Free Masterclass

If you’re a NetSuite user or considering how cloud ERP can support your distribution business, this session will give you a clearer picture of how to transform your inventory strategy with practical tools and expert insights. 

Date: Wednesday, 30th July 

Time: 10am – 11am IST/BST

Location: Online 

Register now and take the first step toward smarter, more efficient inventory management. 

Promotional banner for OSSM’s free NetSuite Masterclass on inventory and warehouse management system software, featuring Laura Delaney, Brian Doherty and Naren Sompalli.

About the Author

Naren Sompalli

Naren holds a Bachelor of Engineering degree from BNM Institute of Technology. As a NetSuite specialist, he is involved in implementation at OSSM, collaborating with a team of experienced consultants. Naren conducts workshops for solution implementation and delivery, providing technical support and expertise.

Warehouse manager using a tablet to inspect inventory, representing the use of warehouse management system software in a modern distribution facility.

Smarter Operations, Stronger Results: How to Optimise Supply Chain with NetSuite

NetSuite Wholesale DistributionWholesale Distribution - Solutions
Warehouse manager using a tablet to inspect inventory, representing the use of warehouse management system software in a modern distribution facility.
  • NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

Manufacturers and distributors today are navigating a landscape defined by constant change. From fluctuating customer demands and rising input costs to ongoing supply chain disruptions and pressure to deliver faster – companies are being forced to reimagine how they operate. In response, many are turning to digital transformation as a strategic priority, and NetSuite is emerging as a critical tool in that journey. 

Cloud-based ERP solutions like NetSuite empower companies to build smarter, more agile, and more cost-effective supply chains. But as operations expand – geographically and digitally, so too does the complexity. Managing procurement, inventory, logistics, fulfilment, and finances across multiple locations becomes increasingly difficult without an integrated system. That’s where NetSuite comes in. 

This blog explores how to optimise supply chain with NetSuite, and how smart manufacturers and distributors are using the platform to reduce costs, increase efficiency, and gain full control over every link in their supply chain. 

Real-time visibility for smarter decisions with NetSuite for Distributors 

One of the biggest challenges in managing a supply chain is the lack of end-to-end visibility. Disconnected systems, manual processes, and outdated spreadsheets make it difficult to see what’s really happening in real time. NetSuite for Distributors resolves this by providing a single source of truth. 

From procurement to warehouse management and order fulfilment, NetSuite centralises supply chain data and activity. With custom dashboards, built-in analytics, and role-based reporting, decision-makers can quickly identify delays, stock imbalances, and supplier issues – before they impact customers or revenue. 

NetSuite’s real-time visibility empowers businesses to: 

• Track inventory levels across multiple locations 

• Monitor supplier performance and lead times 

• Forecast demand more accurately using historical and seasonal data 

• Identify cost inefficiencies and waste 

For growing businesses juggling multiple suppliers, customers, and channels, this level of insight is essential. It enables you to act fast, allocate resources efficiently, and plan for both short-term shifts and long-term growth. 

Automating supply chain processes with NetSuite for Wholesale Distribution 

Manual supply chain management is time-consuming, error-prone, and costly. NetSuite for Wholesale Distribution enables businesses to automate critical processes across the supply chain – reducing administrative overhead and improving accuracy. 

For example: 

• Purchase orders can be automatically generated based on inventory thresholds 

• Goods received can be matched against supplier invoices in real time 

• Fulfilment tasks can be automated based on customer priority or product type 

These automations reduce reliance on paper trails and human intervention, speeding up processes and minimising costly errors or delays. Teams gain more time to focus on strategy and customer service, rather than chasing updates or cross-checking data across systems. 

NetSuite also integrates seamlessly with third-party logistics providers and supply chain partners, allowing for greater collaboration and efficient workflows across your ecosystem. 

Smarter inventory management and cost control with wholesale distribution ERP  

Inventory is one of the biggest operational costs for product-based businesses. Overstocking ties up cash flow, while stockouts can lead to lost sales and disappointed customers. A wholesale distribution ERP like NetSuite helps businesses strike the right balance through smarter inventory control tools. 

With NetSuite, you can: 

• Monitor stock levels in real time across all warehouses and channels 

• Set reorder points and safety stock levels based on data-driven forecasts 

• Track the movement of inventory from supplier to shelf to customer 

• Manage lot and serial numbers for traceability and compliance 

NetSuite’s demand planning and procurement modules ensure that your inventory strategy aligns with actual demand and seasonal trends – which reduces unnecessary purchases. 

And because NetSuite integrates your supply chain with financials, you get real-time visibility into landed costs, margin performance, and cost of goods sold – giving you the insight to control spend and improve profitability. 

Aligning supply chain and finance in one system  

One of NetSuite’s most powerful advantages is its ability to unify operational and financial data. Traditional ERP systems often treat supply chain and finance as separate functions, making it difficult to understand how procurement decisions affect your bottom line. NetSuite changes that. 

Every purchase, shipment, return, and invoice flows directly into the financial system – eliminating manual data entry and improving accuracy. You can track actual spend against budget, allocate costs by location or department, and make faster, more informed decisions across the business. 

This also simplifies compliance and audit readiness. Businesses operating in regulated industries or across borders benefit from NetSuite’s multi-entity, multi-currency, and tax capabilities, which ensure accurate reporting and better financial governance. 

Why supply chain optimisation can’t wait  

In today’s volatile and competitive market, waiting to address supply chain inefficiencies is not an option. Rising customer expectations, geopolitical tensions, and inflationary pressures mean that businesses must be more agile, responsive, and efficient than ever before. 

Cloud ERP platforms like NetSuite are not just back-office tools – they are enablers of growth, agility, and resilience. And as more companies shift to cloud-based supply chain models, those who move early will gain a competitive edge. 

Let’s build a smarter supply chain together 

If you’re wondering how to optimise supply chain with NetSuite, the journey starts with choosing the right partner. At OSSM, we specialise in helping businesses implement and tailor NetSuite ERP to suit their unique supply chain needs. 

From project scoping and system configuration to training and support, we guide our clients every step of the way – ensuring they get the most value from their investment. Whether you’re scaling up, expanding to new markets, or looking to reduce operational costs, our team can help design a NetSuite solution that works for you. 

Contact OSSM today to explore how NetSuite can drive efficiency and resilience across your operations. 

About the Author

Picture of Chris Hawley

Chris Hawley

Chris is the Managing Director at The Noledge Group and brings over 34 years of experience delivering ERP solutions across industries like retail, distribution, manufacturing, and construction. During his 24 years at Sage, he worked with nearly every product and notably transformed Sage 200 as its Product Manager, turning it into a leading solution for SMEs in the UK and Ireland.

Modern warehouse with automated forklift and organised shelving, representing an advanced warehouse management system in Ireland for wholesale distributors.

Solving Distribution Challenges with the Best ERP for Wholesale: NetSuite Explained

NetSuite Wholesale DistributionWholesale Distribution - Solutions
Modern warehouse with automated forklift and organised shelving, representing an advanced warehouse management system in Ireland for wholesale distributors.
  • NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

Economic disruption, supply chain volatility and evolving buyer expectations are making wholesale distribution more complex than ever. Distributors in Ireland and beyond are being pushed to rethink the way they operate – balancing customer satisfaction, operational control, and financial resilience. 

At OSSM, we’ve seen how the right ERP solution can be a game-changer. As trusted Oracle NetSuite Partners, we work with distributors across Ireland to implement NetSuite – a cloud-based solution that empowers wholesale businesses to simplify operations, enhance visibility, and scale sustainably. 

Below, we explore why NetSuite is considered the best ERP for wholesale distribution and how it supports transformation in today’s fast-paced distribution landscape. 

Driving visibility and control with cloud ERP for distributors 

One of the biggest challenges in wholesale distribution is managing complexity across departments; procurement, inventory, order management, and finance – all while ensuring timely delivery and strong customer service. A cloud ERP for distributors like NetSuite removes silos and brings everything into one central platform. 

NetSuite provides real-time visibility across the entire business. Whether you’re tracking order fulfilment, checking stock levels or reviewing your cash position, everything is updated live. This enables faster decisions, stronger forecasting and ultimately, better control of operations. 

With dashboards tailored for distribution, decision-makers can proactively manage supply chains, optimise purchasing and spot emerging trends before they become issues. 

Cloud-based inventory management for wholesalers 

Inventory is the heartbeat of any distribution business. Overstocking eats into cash flow. Stockouts damage customer relationships. NetSuite offers cloud-based inventory management for wholesalers to strike the right balance. 

Its advanced inventory features allow you to automate replenishment, track stock in real-time, and use predictive analytics for smarter demand planning. With barcode scanning, bin management, and automated alerts, warehouse teams can work faster and more accurately. It’s not just a system – it’s a tool for turning inventory into a strategic advantage. 

And because it’s cloud-based, your inventory data is always accessible – whether you’re on the warehouse floor or working remotely. 

Wholesale distribution ERP in Ireland that scales with you 

Wholesale distributors in Ireland often start small but scale quickly. NetSuite supports this growth with OneWorld – its global management module designed for multi-entity, multi-location and multi-currency operations. 

Whether you’re expanding across Ireland, entering new international markets, or acquiring another business, NetSuite can handle it. This wholesale distribution ERP adapts to your business – not the other way around. 

The system’s modular design means you only pay for what you need. As your operations grow more complex, you can add functionality without needing to switch platforms or reinvest in new infrastructure. 

Distribution software that’s built for the future  

Unlike legacy systems, NetSuite is built in the cloud, meaning there’s no hardware to maintain or software to patch. This reduces overheads and allows your teams to focus on value-added tasks instead of IT admin. 

This is ideal for businesses that want flexibility, security, and long-term cost efficiency. With NetSuite, updates are automatic, and your business is always running on the latest technology – without disruption. 

NetSuite’s built-in analytics and reporting tools also give you access to the data you need to spot opportunities, cut waste, and plan for the future. 

End-to-end functionality for the modern wholesale business   

NetSuite delivers complete functionality for the wholesale distribution sector. Core features include: 

Procurement automation 

Automate purchasing from requisition to payment. Choose the best suppliers, manage vendor relationships and ensure inventory arrives on time, all with less manual work. 

360° customer visibility 

Integrated CRM gives every department; from sales to support – a full view of the customer journey. This ensures faster response times, improved service levels and more meaningful engagements. 

Order management 

From quotation to fulfilment, NetSuite automates the entire order lifecycle. That means accurate invoicing, real-time status updates, and fewer bottlenecks. 

Demand forecasting 

Predict future sales using historical data and market trends. Smart forecasting ensures the right products are in the right place at the right time – without tying up unnecessary cash. 

Warehouse efficiency 

Improve picking, packing and shipping with barcode scanning, mobile access and real-time tracking. NetSuite’s Warehouse Management System (WMS) helps lower costs and increase accuracy. 

A unified platform for smarter, faster work    

One of NetSuite’s greatest strengths is its unified architecture. Accounting, CRM, inventory, order management and reporting all work seamlessly together. This single source of truth reduces duplication, improves collaboration and helps every team stay aligned. 

Key advantages include: 

• Fewer manual errors and rework 

• Automated workflows that reduce delays 

• Consistent, real-time data across departments 

• Improved collaboration between teams 

This unified approach supports operational excellence and strategic growth planning. 

Why work with OSSM?     

Our team brings deep industry expertise, local market understanding, and hands-on support throughout your ERP journey. 

From scoping and configuration to go-live and optimisation, we tailor each NetSuite implementation to your specific needs. Whether you’re a small distributor looking to modernise or a multi-location operation planning your next growth phase, we’re here to help. 

If you’re relying on disconnected systems, manual spreadsheets or outdated processes, it’s time to explore a modern, scalable alternative. With OSSM as your implementation partner, you can be confident your ERP journey is in expert hands. 

Let’s help you future-proof your business with a unified cloud solution tailored to the demands of wholesale distribution. Get in touch with OSSM today. Email us at sales@ossmcloud.ie  

About the Author

Picture of Anna Carolan

Anna Carolan

Anna is an experienced professional in project management and change management roles, with a focus on IT systems development and implementation. Currently serving as the NetSuite Implementation Manager at OSSM, Anna assists in managing and implementing Enterprise Resource Planning (ERP) systems for large organisations and small-to-medium-sized companies.

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Signs Your Business Would Benefit from a New Warehouse Management System

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African American woman are work with business distribution inventory in warehouse factory
  • NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

Efficient warehouse management is more than just an operational necessity in today’s fast-paced world, it’s a competitive advantage. However, knowing when your current warehouse management system is falling short can be challenging. Often, what might seem like a minor inconvenience could be a significant bottleneck, impacting everyday warehouse operations and your overall business performance. Understanding the difference between small issues and critical deficiencies is crucial for maintaining an efficient warehouse.  

In this blog, we have explored some common problems associated with basic warehouse management systems that could be impacting the success of your business. While on its own each of these issues may seem unimportant, together they can significantly influence operations. By identifying these 10 signs, you can make an informed decision about upgrading to a more sophisticated warehouse management system (WMS) that not only meets your current demands but also supports future growth.  

1. No Multi-Location Inventory Tracking 

As businesses grow and expand, they typically require more than one location, whether it’s stores, warehouses or third-party facilities. This is when the limitations of entry-level inventory management systems become more apparent. These systems are typically designed for single-location operations, meaning they struggle to track inventory across multiple locations, resulting in a lack of insight. This can complicate order fulfilment processes and increase costs by not allowing for the optimisation of shipping routes or inventory pulling. Not to mention, it can hinder purchasing decisions. Without clear visibility into stock levels, ordering and allocating stock can become a guessing game, making the process more complicated.  

2. Manual Updates to Product Records 

Typically, basic warehouse management systems will store product details, yet they often need to provide more key information, such as item location by zone or special handling instructions. When your e-commerce and POS systems aren’t integrated with your inventory systems, significant manual effort is required to update product information across multiple platforms too, increasing the likelihood of human error. This seemingly minor inconvenience can lead to hours of wasted time each week manually updating and checking inventory records. Upgrading your software system can centralise information for every SKU, reduce mundane and error-prone tasks, and deliver an impressive ROI.  

3. Messy Demand Planning 

Effective warehouse management requires more than just current inventory visibility, you need insights into past SKU performance, seasonal trends and demand fluctuations to replenish stock. Starter systems may offer basic sales and inventory reports, but these often need to be manually uploaded into spreadsheets and it quickly becomes a messy, time-consuming process. As businesses grow and operations become more complex, the need for sophisticated demand planning increases. When sales and purchase orders increase, any mistakes will be magnified and it becomes even more important to have software you can rely on. Advanced WMS will provide you with reliable and accurate data, minimising the risk and impact of errors.  

4. Painful Inventory Counts 

Inventory counts are a necessary but time-consuming task, often requiring businesses to shut operations down once or twice a year. Without an effective warehouse management system, these counts are even more disruptive as they tend to involve stopping all inventory movement. Relying on spreadsheets for tracking expected quantities not only slows the process but also increases the likelihood of errors, such as double-counting items. Not to mention, without the right software, you can’t use handheld scanners that make inventory counts much easier, faster and more accurate. Similarly, cycle counts which can streamline full counts or prevent the need for them altogether, can take longer than should when you have a manual system.  

5. Lack of Traceability 

In highly regulated industries where recalls aren’t uncommon, being able to track every item sold is essential. You need to be able to trace products back to suppliers and the raw materials used to make them, and also trace them forward after they are sold to the customer so you can notify them of any product issues. Without a software system to automate tracking, the process can get very confusing and any inaccuracies can risk customer safety and brand reputation. A robust inventory management system can simplify traceability by automatically generating and assigning lot numbers to production runs, enabling you to keep precise records and easily reach customers if any issues arise, reducing costs and improving customer satisfaction.

6. Lack of Integration 

A WMS system that lacks integration with essential business processes, such as accounting or sales, can create significant inefficiencies. Without integration, for instance, accounting teams can struggle to reconcile inventory accurately, leading to financial reporting discrepancies and it will be harder for sales teams to access real-time inventory data, resulting in errors in order processing. Similarly, without CRM integration, customer service representatives may lack visibility into customer histories or preferences, impacting service quality. These integration gaps often result in fragmented information across different systems, making it almost impossible to get a comprehensive overview of business operations and performance.  

7. Difficulty in Forecasting 

When your current system fails to forecast demand or capture seasonal trends accurately, it causes several challenges, including the risk of stockouts or overstock situations that don’t align with actual customer demand. Inaccurate and unreliable forecasting often results in lost sales opportunities and dissatisfied customers, as well as inventory tying up capital and space. Difficulty forecasting can disrupt supply chain operations, inventory planning and pricing strategies too, preventing you from being able to take advantage of anticipated demand. Ultimately, the inability to generate accurate demand forecasts and understand seasonal trends negatively impacts operational efficiency, profitability and customer satisfaction. 

8. Poor Reporting and Analytics 

Inadequate reporting capabilities and a lack of actionable insights from current warehouse management systems can restrict your ability to make informed and strategic decisions. Without visibility into critical performance metrics like inventory turnover rates and sales trends, it’s difficult to identify and correct inefficiencies. Additionally, not having reliable data prevents you from being able to develop effective pricing strategies that consider demand trends, competitor pricing and product profitability, leading to missed opportunities for maximising revenue. Not to mention, poor reporting limits the ability to assess supplier performance, making it difficult to address issues and negotiate favourable terms.  

9. Over Stocking 

Excess inventory that’s taking up valuable space in your warehouse and tying up capital is a clear sign that your software system isn’t working as effectively as it should be or providing the insights you need. Excessive inventory levels can lead to increased warehousing costs and reduce the available space for high-demand items, impacting overall warehouse productivity. This inefficiency not only impacts operational expenses but also restricts cash flow, preventing your ability to invest in growth initiatives. Excessive stock also increases the risk of stock obsolescence or depreciation, as products become outdated or sustain damage over time, leading to lower turnover rates that negatively affect profitability and liquidity.

10. Customer Experience 

When your current WMS leads to poor customer experiences, such as delayed shipments, out-of-stock items or inaccurate order fulfilment, it sets off a chain reaction that impacts your reputation and bottom line. Delayed deliveries and unavailable products can be frustrating for customers, potentially driving them towards competitors who can meet their needs. Inaccurate fulfilment can cause further damage by undermining your competence. These days, negative experiences are often shared through word-of-mouth or online reviews, damaging your reputation and deterring prospective customers. Ultimately, these issues result in an immediate loss of sales, as well as long-term damage to your brand’s competitive standing in the market. 

Upgrading Your Warehouse Management System in Ireland  

All in all, replacing your old warehouse management system is key to addressing current inefficiencies and supporting business success. A new cloud-based WMS solution can transform your warehouse operations and provide you with the comprehensive tools you need for inventory management, supply chain management, logistics processes and much more.  

Here at OSSM, we are a dedicated NetSuite Solution Provider, and we can help you streamline your business with the right warehouse management system software. We have experience across various sectors, including distribution, manufacturing and field services, and our team will make your NetSuite journey as hassle-free as possible. We can help you integrate the right software into your warehouse operations and we will support you through the entire process, ensuring a quick and cost-effective transition. You can trust you will be in very capable hands when you turn to us for assistance with managing all aspects of your warehouse.  

Why not explore our NetSuite Guide?

Download our guide: Where Warehouse Management and Finance Collide, where we have explored some common problems associated with basic warehouse management systems. 

About the Author

Picture of Naren Sompalli

Naren Sompalli

Naren holds a Bachelor of Engineering degree from BNM Institute of Technology. As a NetSuite specialist, he is involved in implementation at OSSM, collaborating with a team of experienced consultants. Naren conducts workshops for solution implementation and delivery, providing technical support and expertise.

The Impact of Inventory Control on Cash Flow

How Tighter Inventory Control Can Improve Cash Flow

Manufacturing - SolutionsNetSuite ERPNetSuite Financial ManagementNetSuite ManufacturingNetSuite Wholesale DistributionWholesale Distribution - Solutions
The Impact of Inventory Control on Cash Flow
  • Manufacturing - Solutions, NetSuite ERP, NetSuite Financial Management, NetSuite Manufacturing, NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

A healthy cash flow is crucial for businesses, especially during challenging economic climates when many are concerned about their near-term future. In uncertain times, businesses often experience a reduction in revenue, while expenses and operating costs remain constant or even start to rise. Without adequate cash reserves, businesses may struggle to meet their financial obligations and finance teams need to go back to basics, carefully review their finances and properly manage their cash flow.

For any business that buys and sells products, inventory control plays a huge role in cash flow. It’s key to ensure that you have the necessary resources to sustain operations and meet demand, but this can result in money being tied up in inventory. If you’re looking to optimise your cash flow, minimising expenses related to buying, holding and selling items is key, and the importance of improving inventory management shouldn’t be underestimated.

Fortunately, having tighter inventory control can help to improve cash flow and if you’re concerned about the current economic climate, now is the time to focus on your inventory. Below we have explored how inventory management can help with cash flow and how NetSuite can support inventory-related savings.

The Impact of Inventory Control on Cash Flow

Inventory is a significant investment for companies and managing inventory levels can have a direct impact on cash flow.

One of the main ways that inventory control affects cash flow is through the cash tied up in inventory. When a business purchases inventory, it ties up cash that could otherwise be used for other purposes. Additionally, maintaining high levels of inventory can result in increased storage and holding costs, which further drain cash reserves. On the other hand, too little inventory can lead to lost sales and lost revenue. If a business is unable to meet customer demand due to low inventory levels, customers may take their business elsewhere.

Effective inventory control involves finding the right balance between having enough inventory to meet customer demand and minimising the amount of cash tied up in inventory. By finding the right balance, businesses can maximise their financial resources and better position themselves for long-term success.

Revolutionising Inventory Management with NetSuite ERP

Businesses can use technology to help manage inventory levels and optimise cash flow, like NetSuite. Inventory management software can provide businesses with the insight they need into their inventory levels and help to identify opportunities for cost savings. By using technology to manage inventory, businesses can make informed decisions about when to order inventory, how much to order and how to allocate resources more effectively.

NetSuite’s comprehensive Enterprise Resource Planning (ERP) solution provides businesses with financial management and inventory management in a single system. This enables you to see how your inventory is affecting your financials, and it makes it easier to understand the impact that these two key components have on day-to-day business operations as well as one another. 

Analysing Sales Data

A popular strategy for effective inventory control is to analyse sales data and identify products that are slow-moving or have a low-profit margin. This enables you to reduce the inventory levels of those items and concentrate on items that contribute most to your bottom line.

NetSuite will help you to strategically manage your inventory levels and minimise the amount of cash tied up in inventory without losing sales or sacrificing customer satisfaction. The user-friendly dashboards make it easy to access real-time data and the consolidated reporting enables you to analyse historical data. It will be easy to track things like sales trends and margins, so you know which SKUs are profit-makers and need to be pushed.

Forecasting Demand

To prevent you from ordering too much or too little inventory, it’s essential to have accurate forecasts. When you order the right amount of specific items, you can ensure that you’re able to meet demand but you’re not stuck with unsold stock, increasing your bottom line.

When you use NetSuite ERP software to your advantage, you will have access to the mission-critical data you need to make better decisions. You can create accurate reports about inventory levels and performance, and use these to support purchase decisions. It will be much easier to ensure you have the right amount of inventory at the right time and NetSuite forecasts can meet the complex needs of different businesses.

Monitoring Inventory Levels

Having ‘safety stock’ is important regardless of which sector you operate in. However, incorrect or outdated safety stock targets can result in holding too much stock. When money is tied up in safety stock, it can’t be used elsewhere and inventory levels could be draining cash reserves.

Integrating NetSuite software into business processes can help you to monitor inventory levels and ensure that safety stock is kept up-to-date. By taking into consideration things such as historical and seasonal demand as well as supply chain predictability, the accuracy of safety stock targets can be improved. NetSuite can also calculate reorder points, helping to ensure you’re always holding the right amount of inventory.

Improving Inventory Data

To improve inventory control, it’s essential to ensure the numbers in your system match on-hand quantities. Far too often inventory isn’t accounted for and businesses don’t have accurate data, which causes an abundance of problems later down the line.

NetSuite ERP can be used to increase the reliability and accuracy of inventory data, and it will be easier than ever before to update inventory records. You can perform cycle counts as well as full inventory counts with this smart business software, and counts can be adapted to your specific needs. When you account for inventory properly, you can avoid discrepancies and make decisions based on accurate inventory data.

Reducing Fulfilment Costs

When you operate across multiple locations, knowing the location of your inventory is crucial and it can help to support fulfilment decisions. By shipping from the best locations, you can reduce shipping costs and boost your profit margins.

Using a comprehensive ERP system like NetSuite can help to improve real-time visibility across locations. You can also save a considerable amount of time and effort by removing the need for manual order reviews, and the system will automatically assign orders to the best shipping locations. Making better fulfilment decisions won’t just reduce shipping costs, but it will also reduce shipping times which can have a knock-on effect on customer satisfaction.

Working With a NetSuite Business Partner in Ireland

Ultimately, improving inventory management is key to improving cash flow and it’s undoubtedly worthwhile focusing on inventory control if you want to free up cash for other purposes. If you’re interested in NetSuite business software and you’re wondering how it can benefit your operations, don’t hesitate to contact our team at OSSM. We collaborate with businesses across a range of industries and help them to overcome unique challenges.

As a trusted NetSuite Solution Provider in Ireland, you can rely on us to deliver flexible and long-lasting cloud solutions. Our team will happily assist you with your NetSuite project and help you to establish the best solutions to your needs. We can even provide you with a NetSuite product tour to help you determine whether it’s the right option for your business.

Why not explore our NetSuite Guide?

Download our guide: Where Warehouse Management and Finance Collide, where we have explored some common problems associated with basic warehouse management systems. 

From Chaos to Control

On June 20th, we will host a webinar to help businesses maximise inventory ROI with NetSuite.

The following topics will be discussed:

• Key Challenges for Distributors
• The Critical Role of Inventory Planning
• Precision Forecasting
• Efficient and Green Warehouse Management
• The Impact on the Bottom Line

See link to register: https://ossmcloud.ie/ossm-webinar-from-chaos-to-control/

About the Author

Picture of Naren Sompalli

Naren Sompalli

Naren holds a Bachelor of Engineering degree from BNM Institute of Technology. As a NetSuite specialist, he is involved in implementation at OSSM, collaborating with a team of experienced consultants. Naren conducts workshops for solution implementation and delivery, providing technical support and expertise.

Field Service Management Solution

Finding The Best Inventory Management Solution For Your Business

NetSuite Wholesale DistributionWholesale Distribution - Solutions
Field Service Management Solution
  • NetSuite Wholesale Distribution, Wholesale Distribution - Solutions

Having a suitable inventory management solution for your business is incredibly important, especially in these times of supply and personnel uncertainty. More and more warehouses are moving away from time-consuming manual inventory processes and investing in technology that can help them better position their business for success.

If you currently use spreadsheets to manage inventory, there is a high chance you frequently find yourself with stock levels that are too high or too low and you have to deal with stock counts that don’t align with what’s really in your warehouse. When you implement the right inventory management solution, you can minimise manual work, streamline day-to-day operations and improve efficiencies. This, in turn, will help you to overcome common challenges faced by businesses, adapt to future changes and achieve your goals.

Ultimately, inventory management is all about stock ordering, storage and control, and having the right quantities of the right products at the right time is key to ongoing success. When you’re trying to find a new warehouse stock management system for your business, there are a few key features to look for. Using technology that is cloud-based, all-encompassing and adaptable, like NetSuite solutions, is beneficial for several reasons and it can help you to effectively manage your inventory process. Below we have looked into these three key features in more detail.

Cloud-based solutions

Implementing cloud-based solutions can help you to manage your inventory smartly and efficiently. Cloud-based software systems don’t have the same limitations as on-premises systems and your warehouse stock management solution will be able to handle everything required. With the help of a NetSuite cloud-based warehouse stock management system, your business will become more intelligent and you can directly benefit from the increased flexibility and transparency this type of system provides.

Leveraging cloud-based platforms within your warehouse will enable you to get real-time updates of inventory levels whenever required. All information stored within your cloud-based management solution will be readily accessible to users across multiple warehouses and locations, and this visibility will be invaluable. When you’re no longer restricted by an on-premises system and you have all of the capabilities you need to effectively manage your inventory, you can focus your time and attention on other important aspects of your business.

All-encompassing solutions

The best inventory management solutions will extend from the point of origin to the end-user. Having visibility of the whole supply chain is incredibly beneficial and using technology to support the movement, management and fulfilment of inventory is a cost-effective way to significantly improve customer satisfaction. End-to-end stock management solutions can revolutionise your order fulfilment process by automating several processes.

When you invest wisely in technology, whether you implement a basic NetSuite solution or integrate different applications that support native NetSuite functionality and extend its value, you can improve profit margins. Not only can a warehouse stock management system increase inventory accuracy, but it can maximise order picking efficiency, driving costs out of the distribution process. Not to mention, all-encompassing inventory management solutions can help to reduce human error and the costs associated with this too.

Adaptable solutions

Being able to adapt your software to your changing warehouse needs and the changing external environment is crucial for growing businesses. Implementing an inventory management system that you can build upon will help you to ensure your business remains automated, streamlined and profitable, regardless of what the future holds, and you can maintain high levels of performance. It is likely that some features you need in years to come won’t be seen as requirements when you first invest in a management system, and adaptability will enable your inventory solution to scale and change with your business.

The right technology will help you to gain better control during challenging times too and no matter how uncertain market conditions may be, your adaptable inventory management solution will help you to continue delivering exceptional service. Predicting the future needs of your business can be incredibly difficult, but having software installed that can help you to achieve maximum productivity with minimum wasted effort and expense is always advantageous.

Speaking to a NetSuite consulting partner about Inventory Management

Investing in a warehouse stock management system that is cloud-based, all-encompassing and adaptable is something that all businesses should do, and using the right system can have a direct impact on your ongoing success. Should you have any questions about NetSuite solutions and the integrated apps available, don’t hesitate to contact our team at OSSM. As the leading NetSuite consulting partner and solution provider in Ireland, you can rely on us to provide you with the tailored advice you need when finding the best technology for your business.

Here at OSSM, we have collaborated with lots of businesses, across a range of industries, and we are committed to helping our customers overcome any problems they’re facing with new NetSuite solutions. We can integrate your chosen inventory management system into your operations efficiently and effectively too, so you can start reaping the benefits straight away. To find out more about how we can help, explore the rest of our website today.

Book a NetSuite Demo

Click here to book a short, 30-minute demo of NetSuite, where we will show you the benefits that this solution can bring to your business.