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

by 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

At OSSM, I’ve worked closely with many wholesale and distribution businesses across the UK and Ireland to help improve their inventory processes. Over the years, I’ve supported clients through ERP implementations, process enhancements, and system rollouts – seeing firsthand how inventory issues like unpredictable demand, supply chain delays, and poor stock visibility can hold businesses back from operating efficiently or scaling successfully.

This blog brings together my experience with NetSuite Inventory Management to show how the right ERP solution can improve stock control, order fulfilment, and forecasting. If you’re managing a distribution operation, and struggling with outdated or disconnected tools, this blog is for you. Today’s supply chain environment demands real-time visibility, seamless integration, and agile decision-making – and that’s where NetSuite really delivers.

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. It’s a free session designed to help NetSuite users and prospects unlock more value from their ERP investment.

Let’s take a closer look at what real-time inventory visibility means – and why it’s more important than ever.

What does real-time inventory visibility really mean?

Inventory is the engine of any distribution business. It determines your ability to fulfil customer orders, maintain supplier relationships, and manage profitability. Yet many organisations still operate with fragmented, slow, or inaccurate inventory data – leading to poor decision-making, inefficiencies, and unnecessary risk.

NetSuite Inventory Management offers complete real-time visibility over your stock, across multiple sites including warehouses, depots, and retail locations. Because it’s a unified, cloud-based system, it enables teams to monitor stock availability, movements, and valuations from anywhere, at any time. This reduces errors, speeds up decisions, and boosts fulfilment performance.

Thanks to NetSuite’s intuitive dashboards, users can instantly view inventory levels, reorder points, usage trends, and financial impact. No more Excel spreadsheets or manual reconciliation – just accurate, up-to-date information shared across your operations and finance teams.

What we’ll cover in the Masterclass

The upcoming Masterclass is a hands-on session aimed at helping distribution professionals apply NetSuite’s inventory tools in real-world scenarios. We’ll focus on key functions that make a difference on the ground, including:

Stock adjustments and imports
Learn how to handle large-scale inventory updates and bulk data imports – especially when adding new products or adjusting stock across different locations.

Traceability
We’ll explore how batch and serial number tracking helps improve product traceability and maintain compliance, particularly in regulated or time-sensitive industries.

Manual and WMS-Based stock takes
Whether you’re using standard NetSuite inventory tools or the full Warehouse Management System (WMS), we’ll walk through how to manage both physical and automated stock counts.

Accounting integration
See how inventory data flows seamlessly into your financials – supporting real-time cost tracking, accurate valuations, and smooth month-end processes.

These aren’t just features – they’re tools that can be tailored to suit your specific business needs and workflows.

Why inventory management matters more than ever

In today’s competitive landscape, poor inventory control can be costly. Manual processes and disconnected systems often result in stockouts, overstocking, lost revenue, and inefficiencies that stunt growth.

NetSuite helps tackle this by consolidating inventory, purchasing, finance, and fulfilment into one integrated platform. It removes silos, enhances automation, and provides real-time reporting and insights for every department.

During the session, we’ll also look at how NetSuite supports:

Automated procurement processes
Configure rules to automatically trigger purchase orders when inventory hits minimum levels. Set preferred vendors, monitor lead times, and prevent over-ordering.

Improved demand planning
Use built-in tools to forecast demand using historical sales and seasonal patterns. This enables more accurate replenishment planning and reduces reliance on manual calculations.

Streamlined fulfilment
From order placement to delivery, NetSuite ensures your fulfilment process is efficient and transparent – complete with tracking and exception handling throughout.

This combination of real-time visibility, process automation, and integration supports scalable growth and strong customer service.

NetSuite for Wholesale Distribution: More than just inventory tracking

NetSuite’s Inventory Management tools are just one part of a broader ERP platform designed specifically for distributors. It connects your inventory with customer orders, supplier deliveries, warehouse activity, and financial processes – giving you complete operational oversight.

Rather than just recording stock levels, NetSuite equips your business to act on insights. Operations teams can monitor metrics like inventory turnover or picking accuracy. Finance teams benefit from real-time stock valuation. And senior leadership gains visibility into KPIs that matter most.

For UK distribution businesses looking to future-proof operations and stay competitive, the NetSuite ERP benefits go far beyond inventory tracking.

Our commitment at OSSM as NetSuite consulting partners

At OSSM, we specialise in helping distribution businesses across the UK and Ireland implement and optimise NetSuite. Our approach goes beyond configuring the system – we work closely with your team to ensure your solution is aligned with your operational goals.

From supporting multi-site stock control and mobile scanning, to deploying WMS functionality and demand planning, our consultants bring deep knowledge across the full ERP and inventory lifecycle.

We’re here to ensure your NetSuite system delivers long-term value from day one – and continues to evolve as your business grows.

Register for the Free Masterclass

If you’re using NetSuite or considering a cloud ERP for your distribution business, this Masterclass will give you a clearer picture of how to take your inventory management to the next level.

Date: Wednesday, 30th July
Time: 10am – 11am BST
Location: Online

Register now and take the first step towards smarter, more efficient inventory operations.

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

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

by 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 across the UK are facing an increasingly dynamic and unpredictable environment. With shifting customer demands, rising material costs, and ongoing disruptions in global supply chains, companies are under pressure to rethink the way they operate. As a result, many are prioritising digital transformation, and NetSuite is a key enabler in that process.

Cloud ERP systems like NetSuite give businesses the tools they need to run leaner, smarter supply chains. But as businesses grow, both geographically and digitally – managing complex operations across procurement, logistics, fulfilment, and finance becomes a major challenge without an integrated solution. That’s where NetSuite stands out.

This blog looks at how manufacturers and distributors are using NetSuite to optimise their supply chains – reducing operational costs, increasing agility, and gaining full visibility across every process.

Real-time visibility for smarter decisions with NetSuite for Distributors

One of the biggest challenges in supply chain management is the lack of real-time, end-to-end visibility. Many organisations still rely on outdated systems, spreadsheets, or siloed processes – making it difficult to spot issues before they escalate.

NetSuite for Distributors solves this by acting as a central hub for your entire supply chain. From procurement through to warehouse management and fulfilment, it consolidates data and activities in one cloud-based platform.

With tailored dashboards, in-depth analytics, and role-specific reporting, decision-makers can quickly identify supply issues, stock fluctuations, or delays – long before they impact service or profitability.

With NetSuite, businesses can:

• Monitor inventory across multiple sites and warehouses

• Track supplier performance and lead times

• Improve demand forecasting using historical trends

• Pinpoint inefficiencies and reduce waste

For UK distributors managing multiple suppliers and delivery channels, this level of visibility is vital. It supports faster, more confident decision-making – whether you’re adapting to short-term challenges or planning for long-term growth.

Automating supply chain processes with NetSuite for Wholesale Distribution

Manual processes slow down operations, introduce errors, and increase labour costs. NetSuite for Wholesale Distribution enables businesses to automate essential supply chain tasks, freeing up teams and enhancing accuracy.

Examples of what NetSuite automation can do include:

• Generating purchase orders automatically when stock hits a minimum threshold

• Matching received goods to supplier invoices in real-time

• Automating fulfilment based on order priority or product type

These simplified workflows reduce admin burdens, eliminate paperwork, and speed up order processing – helping teams spend more time on high-value work like customer service and strategy.

Additionally, NetSuite integrates effortlessly with third-party logistics (3PL) providers and supply chain partners, fostering a more connected and efficient supply network.

Smarter inventory management and cost control with wholesale distribution ERP

Inventory often represents one of the highest operational costs for wholesale businesses. Too much stock ties up capital, while stockouts damage customer trust and sales.

A wholesale distribution ERP like NetSuite provides advanced inventory control features that help distributors maintain the right balance. With it, you can:

• View stock levels in real-time across all your channels and depots

• Set automated reorder points and safety stock thresholds

• Track stock movement from supplier to shelf to end customer

• Manage serial and lot numbers for full traceability

With demand planning tools and procurement modules built in, NetSuite ensures that buying decisions are based on accurate data and real demand – not guesswork.

Since the system also connects your supply chain to your financials, you gain full insight into landed costs, margins, and cost of goods sold – empowering you to reduce spend and increase profitability.

Aligning supply chain and finance in one system

One of NetSuite’s key strengths is the seamless integration of supply chain operations with finance. In traditional systems, supply chain data and financial data are often siloed, leading to reporting delays, duplication of work, and poor decision-making.

NetSuite eliminates those barriers. Every transaction – from procurement to shipment to invoicing, is automatically reflected in the financial system. That means no manual data entry, improved data accuracy, and up-to-date financial visibility.

You can:

• Compare spend against budgets in real time

• Allocate costs by department or location

• Make decisions based on accurate, current data

For businesses working in regulated industries or trading internationally, NetSuite also offers built-in multi-entity, multi-currency, and tax compliance features – ensuring financial transparency and audit readiness.

Why supply chain optimisation can’t wait

In today’s market, operational inefficiency is a major risk. Customer expectations are higher, competition is tougher, and costs continue to rise. Businesses that delay digital transformation risk falling behind.

NetSuite isn’t just a tool for back-office operations – it’s a driver of resilience, efficiency, and growth. UK businesses that adopt cloud ERP early can better navigate uncertainty, improve customer service, and stay ahead of the curve.

Let’s build a smarter supply chain together

If you’re exploring how to optimise your supply chain with NetSuite, the first step is choosing the right implementation partner. At OSSM, we help UK businesses tailor NetSuite to their exact operational needs – from initial discovery and system design to configuration, training, and ongoing support.

Whether you’re scaling, expanding into new markets, or aiming to reduce operational overhead, our team can deliver a tailored NetSuite solution that fits your goals.

Get in touch with OSSM to learn how NetSuite can transform your supply chain operations and help you achieve stronger results across the board.

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 UK for wholesale distributors.

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

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

Ongoing economic uncertainty, supply chain disruptions and shifting customer demands are making wholesale distribution increasingly complex. UK distributors are under pressure to rethink how they operate — balancing service excellence with tighter operational control and greater financial resilience.

At OSSM, we know how transformative the right ERP can be. As experienced Oracle NetSuite Partners, we support wholesale distributors across the UK in adopting NetSuite – a leading cloud ERP solution that simplifies operations, improves visibility, and supports sustainable growth.

Below, we explore why NetSuite is regarded as the best ERP for wholesale distribution and how it supports transformation in today’s fast-moving market.

Driving visibility and control with cloud ERP for distributors

Wholesale distribution businesses often grapple with disconnected processes across procurement, stock control, order fulfilment and finance – all while trying to deliver on-time and meet rising customer expectations. A cloud ERP for distributors like NetSuite brings all functions together on one unified platform, eliminating silos.

NetSuite gives you live visibility across every aspect of the business. Whether you’re monitoring order status, tracking inventory or checking your cash position, updates happen in real time. This leads to quicker decisions, more accurate forecasting, and tighter control over daily operations.

With distribution-specific dashboards, your teams can monitor performance, optimise purchasing, and identify potential risks before they impact the bottom line.

Cloud-based inventory management for wholesalers

For wholesale businesses, inventory is a critical asset. Carrying too much stock ties up cash, while stockouts can harm customer trust. NetSuite’s cloud-based inventory management for wholesalers maintains the right balance.

With advanced features like automated stock replenishment, real-time tracking, and predictive analytics, your team can forecast demand with greater accuracy. Barcode scanning, bin location tracking and automated notifications allow warehouse staff to operate more efficiently.

Because it’s a cloud system, your inventory data is accessible from anywhere — whether you’re on the warehouse floor, in a head office, or working remotely.

Wholesale distribution ERP in the UK that scales with you

UK distributors often start with lean teams and grow rapidly. NetSuite supports this growth through its OneWorld module — ideal for multi-entity, multi-location and multi-currency businesses.

Whether you’re expanding across the UK, entering new markets, or managing an acquisition, NetSuite scales with your business. This wholesale distribution ERP adapts to your needs — not the other way around.

Its modular structure allows you to add functionality as needed, avoiding expensive replatforming or system replacements further down the line.

Distribution software that’s built for the future

Unlike legacy systems, NetSuite is cloud-native — meaning there’s no on-site hardware or manual software updates required. This reduces your IT overhead and frees up internal resources to focus on strategic initiatives.

For businesses that want to stay agile and future-ready, NetSuite offers security, scalability and cost efficiency. Updates are rolled out automatically, ensuring your team always works with the latest technology without disruption.

Plus, NetSuite’s built-in reporting and analytics give you actionable insights to improve performance, reduce waste, and plan ahead with confidence.

End-to-end functionality for the modern wholesale business

NetSuite is built with the wholesale distribution sector in mind. Its end-to-end capabilities cover every part of your operation:

Procurement automation

Simplify purchasing from requisition through to supplier payment. NetSuite helps you manage vendors, source the best pricing, and ensure goods arrive on time — all with fewer manual steps.

360° customer visibility

Integrated CRM gives every team – from sales to support – full insight into the customer journey. This improves service levels, shortens response times, and fosters stronger client relationships.

Order management

NetSuite automates the complete order process, from quote to delivery. Expect fewer delays, accurate invoicing, and full visibility into order status at every stage.

Demand forecasting

Plan ahead with confidence using NetSuite’s forecasting tools. By analysing historic data and current trends, you can ensure inventory is where it’s needed, when it’s needed — without overstocking.

Warehouse efficiency

Increase accuracy and speed with NetSuite’s Warehouse Management System (WMS), featuring barcode scanning, mobile access, and real-time data for picking, packing and dispatch.

A unified platform for smarter, faster work

One of NetSuite’s key advantages is its unified architecture. It combines accounting, CRM, inventory, order management and reporting in a single platform. This removes duplication, reduces errors, and makes it easier for teams to collaborate.

Key benefits include:

• Fewer manual processes and data re-entry

• Automated workflows that speed up operations

• Real-time data consistency across departments

• Better communication and alignment between teams

By working from a single source of truth, your business can focus on operational excellence and long-term strategy.

Why work with OSSM?

Our UK team combines deep ERP expertise with local market knowledge. We support clients throughout every stage of their ERP journey — from scoping and configuration to deployment and continuous improvement.

Whether you’re a small wholesaler looking to modernise or a larger enterprise managing multi-site operations, we tailor your NetSuite implementation to your goals.

If you’re still relying on spreadsheets, disconnected software, or outdated systems, it’s time to explore a smarter alternative. With OSSM as your NetSuite partner, you’re backed by a team that knows your industry and your region.

Let’s future-proof your distribution business with a cloud solution that’s built to scale. Contact OSSM today at sales@ossmcloud.ie to get started.

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 Project Consultant at OSSM, Anna assists in managing and implementing Enterprise Resource Planning (ERP) systems for large organisations and small-to-medium-sized companies.

African American woman are work with business distribution inventory in warehouse factory, female people working in safety occupation job for shipping industry manufacturing

Signs Your Business Would Benefit from a New Warehouse Management System

by NetSuite Wholesale DistributionWholesale Distribution - Solutions
  • 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

by 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. 

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.co.uk/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.

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Top 7 Proven Strategies for Successfully Scaling Your Business

by NetSuite ERPNetSuite Global Business ManagementNetSuite ManufacturingNetSuite Wholesale DistributionServices - Solutions
  • NetSuite ERP
  • NetSuite Solutions
  • NetSuite ERP Partners

Scaling your business is a transformative step towards achieving sustainable growth and enhanced profitability. When you strategically expand your business operations, you open your organisation up to a wide range of benefits including economies of scale, greater brand recognition and increased market share.

No matter the size or stage of your business, scaling encourages innovation, attracting top-tier talent and elevating your organisation into a formidable industry player. As you continue to expand, the potential for increased revenue becomes substantial too. Ultimately, embracing scalability both future-proofs your business and unlocks opportunities for diversification. In this blog post, we have explored seven top strategies for scaling your business and elevating it to the next level.

1. Going International

Expanding internationally is a logical progression for a business demonstrating product-market fit and success in its home market. Venturing into global markets, however, poses challenges. If international expansion is on the agenda, then it’s important for a business to ask key questions about currency conversion, transaction consolidation, shipping options and costs, taxation (like EU VAT), and compliance with local regulations such as GDPR.

Adopting NetSuite OneWorld is an effective strategy to streamline your operations across multiple countries and currencies. It can enable your organisation to evolve into a global player, facilitating the transition from local to global operations.

NetSuite OneWorld enables businesses to manage multiple subsidiaries, business units and legal entities from just one ERP solution. It supports 27 languages and 190 currencies, so it’s simple to work with customers and suppliers around the globe. With country-specific configurations, you can ensure compliance with local accounting, tax and regulatory requirements too.

2. Building Processes that Scale

Achieving rapid growth necessitates a shift in operational processes to accommodate increased sales, customers and staff. For example, when a distribution business experiences accelerated success, it can lead to a surge in daily orders and the need for a larger warehouse. When this occurs, the old way of doing things simply doesn’t work anymore.

Manually downloading orders and using spreadsheets to track inventory is no longer possible. As a result, there is a need for consolidation and automation. This is where NetSuite’s solution comes into play. With this cloud-based software, a rapidly growing retailer can stay on top of all financials, inventory, order management, e-commerce and advanced analytics in one solution.

Steps can be automated in the order-to-cash and procure-to-pay processes. And, connecting sales, inventory and financials can provide valuable insights into the relationship between these core business drivers. All in all, businesses that grow rapidly need to invest in tools that provide them with real-time, comprehensive data and automation.

3. Expanding Product & Service Offerings

Expanding product and service offerings is another proven growth strategy. When executed correctly, it effectively meets current customer needs and attracts new clientele. Possible diversification avenues include exploring adjacencies, adding capabilities to existing offerings or introducing related products/services.

A hybrid approach, integrating services with products (or vice versa), can enhance revenue streams and stabilise cash flows. Another noteworthy trend is the rise of “second engine” or “engine 2” growth, where investment in a second core business leverages assets from the initial core to drive expansion.

If your business is contemplating product expansion, it’s crucial to ask questions about the problem solved for customers and why it persists, the current market and the advantages offered, who your competitors are, your organisational readiness, and how you’re going to measure successful product or service expansion.

4. Acquiring & Integrating Businesses

The fourth strategy, acquiring and integrating businesses, can pose critical challenges and opportunities for fast-growing companies. While acquisitions offer avenues for growth, they also entail risks and complexities in blending products, cultures, systems and business models. Leaders facing such decisions must carefully consider factors like deal pricing and the level of integration between the acquiring and acquired entities.

Approaches to integration vary, with some businesses tightly blending operations and others maintaining a more independent structure. Key questions to ask include the acquired company’s values, the extent of operational and data integration, and areas for mutual learning.

5. Prioritising Education Around Technology

Technology can play a pivotal role in fostering business growth. But, to achieve this, it’s important for companies to emphasise the need for comprehensive employee training on their technological systems. Effectively upskilling or reskilling the workforce has a hugely positive impact on innovation, productivity and market competitiveness.

A Deloitte survey in 2022 highlighted that organisations fostering a strong learning culture were significantly more likely to innovate, be productive and lead in product/service launches. NetSuite can address this challenge with NetSuite Learning Cloud Support (LCS), which offers continuous education to enhance users’ proficiency in the NetSuite system.

6. Tapping Private Equity or Venture Capital Investment

Entering the world of private equity or venture capital investment is a significant shift for CFOs and their companies, with growth taking centre stage. Despite a recognised need to turn data into actionable insights, a report by Accordion reveals a gap in CFOs’ ability, with only 17% deemed excellent in this area.

However, 80% of investors acknowledge CFOs’ effectiveness in using value levers for robust growth. CFOs are urged to play a larger role in identifying growth opportunities, aligning with investor priorities, emphasising key performance indicators (KPIs) and providing reliable data.

Strategic and operational enhancements, supported by unified data systems like NetSuite OneWorld, are crucial for maximising private equity returns in 2024. The focus lies in balancing cost-cutting and fuelling future growth to navigate the evolving exit market landscape.

7. Divesting to Reinvest

Lastly, leadership teams can strategically divest non-core segments to drive long-term growth. This is a move synonymous with “rightsizing” and rather than being solely about reducing costs, it’s about refining focus, structure and product mix for future success.

Bain & Company’s study of 2,100 public companies reveals that those engaging in focused divestment outperformed inactive counterparts by 15% over a decade. Essential divestment questions surround your strategic goals, the financial benefits, market favourability, deal specifics and robust data management during due diligence.

Speak to a Trusted NetSuite ERP Partner Today

At OSSM, we are a leading NetSuite partner based in Ireland, offering a comprehensive suite of NetSuite software solutions, including industry-specific software and robust reporting tools. Alongside our expertise, these solutions aim to revolutionise business capabilities. We enhance informed decision-making through the world’s leading cloud ERP software.

Our groundbreaking solutions cover financial management, inventory management, manufacturing, order processing and field service management. This empowers businesses to oversee operations in real time within a unified cloud-based platform. We are committed to efficiently and cost-effectively implementing the globally adopted NetSuite ERP system, ensuring transformative benefits for businesses.

On March 20th, we hosted a webinar discussing ways in which you can scale your business with NetSuite.

The webinar delivered valuable insights for businesses looking for a new Finance/ERP system to accommodate their expansion plans or are currently using NetSuite and wish to collaborate with a local solution provider.

See the link to the webinar: https://youtu.be/wzo2EdAnFGg

Field Service Management Solution

Finding The Best Inventory Management Solution For Your Business

by 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.

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