NetSuite Inventory Management

NetSuite Inventory Management

Manage inventory automatically with NetSuite

4.2/5 (439 reviews)

NetSuite Inventory Management Overview

NetSuite inventory management software offers a complete set of inventory management, manufacturing, and purchasing capabilities that improves supply chain management and delivers an end-to-end procure-to-pay process. It is used by over 16,000 organizations worldwide.

Gain an in-depth, real-time view into key supplier, inventory and procurement indicators. Self-service capabilities for partners, vendors and customers improve collaboration throughout the entire supply chain. With NetSuite, you'll be able to better manage inventory levels and costs—and better meet fulfillment expectations, improving customer service.

Pricing

Starting from
US$99,00/month
Pricing options
Free Trial
Subscription
Value for money

Devices

Business size

S
M
L

Markets

Asia, Australia, Canada, China, Europe and 5 others, Germany, Japan, Latin America, Middle-East and Africa, United Kingdom

Supported Languages

Chinese (Traditional), Danish, Dutch, English, French and 11 others, German, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Swedish, Taiwanese, Thai

NetSuite Inventory Management Reviews

Overall rating
4.2/5
82% positive reviews
176
Excellent
185
Very good
62
Average
8
Poor
8
Terrible

NetSuite - Great ERP for mid-size/private companies

Used Daily for 1+ year
Reviewed on 2019/03/06
Review Source: Capterra

NetSuite is great overall. We have reliable numbers and the ability to create a search or report to facilitate data analysis. We have been able to automate a lot of processes (expenses, amortization, sales tax) and the interface is generally user-friendly.

Pros

NetSuite is scalable. I've used NetSuite at a company that was doing $200M+ in revenue and a company that is at $60M in revenue. I also really enjoy that NetSuite can be almost completely customized to your industry and business. NetSuite provides for a lot of automation of processes that Quickbooks cannot handle. It is also a better source of record-keeping as everything is somewhat seamlessly connected.

The batch upload of journal entries/transactions and upload in general is extremely useful and saves so much time.

My previous company used the Fixed Asset Module which was great for record keeping and for systematically recording amortization on a monthly basis. This was also extremely useful to ensure that our policy was uploaded as the amortization rule set, reducing errors in the amount of amortization per asset. The ability to report on the total assets and have their history in one spot proved useful for our audit.

Currently, we are implementing rules for 606 and the multi-book and ARM add-ons have proven very useful for our reporting purposes. I really enjoy NetSuite's use of rules for transactions as they can vary from company to company and item sku to item sku.

I love the saved search function too! So much flexibility for creating reports helps us create reports for month-end reconciliation purposes.

Cons

SuiteAnswers has a terrible algorithm for their search bar. The system is also not as intuitive as others since the actual home screen itself is customized by role. We have also run into the need for an consultant/more technical administrator to provide working scripts for some of our reporting. People with NetSuite should not expect the system to do everything perfectly, sadly the call center is far less helpful than the US-based consultants at NetSuite. However, you can always escalate to your sales rep.

Our solution is hosted and at times runs slower than I would prefer. I wonder if there is a way to increase the speed at which we can click through multiple cells or post a large amount of journal entries.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10

After you climb a steep learning curve, NetSuite is incredibly powerful.

Used Daily for 2+ years
Reviewed on 2018/01/09
Review Source: Capterra

We were able to have a single source of truth for our customer, vendor lists, for inventory, and for financials. Once our system was implemented, gaps analyzed and filled, and users trained, NetSuite has been an effective platform for our business.

Pros

NetSuite is an extremely powerful and inclusive package of applications that are extremely well-integrated.

For SMBs who've outgrown Quickbooks or other "smaller" accounting packages, it's a major improvement.

For manufacturing concerns looking to gain more traction and control over their processes, it is far beyond what lower-priced ERP systems provide. Again, it us a major improvement.

NetSuite is extremely extensible through external interfaces, 3rd party add-ons, internal scripting and through customizations.

Implemented correctly, it is relatively fast, and with its browser-based interface, there are no client issues and never any need for IT to upgrade a client version on every workstation because a new feature-set has been implemented.

It's CRM is adequate, useful, and given NetSuite's signature internal integration, it is easy to implement an effective lead-to-cash system.

The ecosystem also has multiple vendors who sell integration services, for example, there are a number of SalesForce to Netsuite integration partners who can (relatively) quickly connect the two systems. On the backside, the same is true of many popular shipping, warehouse management and other packages. Or, you can roll your own JSON connectivity.

Cons

NetSuite is not easily deployed, and requires expertise to get things mostly right the first time. They address this in their ecosystem by encouraging customers to work with NetSuite partners -- VAR firms that have undergone certifications -- to deploy the system.

There is a steep learning curve, even for system analysts familiar with other ERP, CRM and web commerce platforms.

There is a saying in the NetSuite community that is very true: "you can do anything with NetSuite, but it is going to cost you." Those costs may be development hours for internal developers, fees paid to partners, license costs for addons and integrations, etc. etc. Count on it with any major NS effort.

NetSuite is usually quite reliable, but it can and will "get slow" from time to time, and there are infrequent outages that can last a few minutes to an hour or more. These never come at a good time (is there ever a good time?) and getting information regarding status of repairs can be frustrating.

Free advice: vett your NetSuite partner carefully, and make sure that they can and will provide effective ongoing support. Some firms are better than others at this, and it is a good question to ask references before you hire anyone.

Plan on your implementation taking longer than you expect. This is true with most ERP implementations, NetSuite included.

Support from the company itself can be an exercise in frustration, but persistence and insistence can really help.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Martin K.

a NetSuite view from the perspective of a user and partner

Used Daily for 2+ years
Reviewed on 2017/11/07
Review Source

Pros

multi anything:

- multi tennancy
- multi currency
- multi language

absolute flexibilty / release secure customisation

ALL in ONE product for ALL industries *** real/public CLOUD

- Accounting
- financials
- controlling
- reporting
- KPIs
Billing
- recurring billing
Payments
- SEPA
- bank reconciliation
- credit card statement import
- ERP
- LEAD to CASH process
- PROCUREMENT to PAY process
- inventory
Project management
eCommerce

ALL RELEASE SECURE
- 2 x major release changes per year
- since ~20 years
- for 15000 "logos" = 40000+ clients

HUNDREDS of PARTNERS worldwide

Customer does not need a special expertise to use NetSuite. An internal NetSuite admin can be trained - she/he needs to have some ERP-economical background through - sure.

interface / API / development plattform "in the cloud"

Whatever is not fully included so far can be "attached" e.g.

global HR
- no ERP with accounting on earth has an HR product fully integrated that can cover the same amount of counties as expected from the accounting side of view. Too many regulations.

same with PAYROLE

and BI
- the BI requirements are too diversified that 1 product can cover all. Eithger the internal NetSuite tools will do the job or you attach whatever suits best

and eCommerce
- NetSuite has kind of a "simple" webshop and a SUPER DUPER webshop named SCA = SuiteCommerce Advance that can do everything you need.

Rule of thumb with pricing: probably a 5th to a 10th of the price of DEMANDWARE or HYBRIS but INCLUDING webdesign AND fully integrated REAL TIME solution

Cons

Maybe performance - does not apply in all countries and is very dependant on the amount of individual scripting/programming in the individual system. This can be monitored and maintenanced but still needs to be done.

Not as "chique" as "best of bread" solutions

The overall ERP problem: make users in their various roles aware of all the options they have ... in most case an internal problem which of course refelcts to supporting professional providersevice

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10

Full Featured Cloud Based Solution

Reviewed on 2016/02/25
Review Source

Our company performed a lengthy evaluation of ERP solutions to move to in order to enhance our capabilities and support our expanding business. NetSuite offered the most robust cloud solution at the lowest price (best value solution). We are an import/export wholesale distributor with the need for multi-company, multi-currency capabilities. We have five separate legal entities with three primary operating entities and use public warehousing (more than 15 locations), so being able to report on an individual and consolidated basis was essential. Despite these needs, we are a small company in terms of employees (less than 25). NetSuite's OneWorld product was key to meeting our needs and as a cloud based solution we can maintain with limited staff. As the Controller I am the main administrator of our NetSuite solution, with no IT staff. NetSuite has delivered on their promise, providing a robust solution that provides a full-featured dashboard to monitor key performance indicators, easy secure access from anywhere, mobile capabilities, robust reporting capabilities and very customizable to meet business needs.

Pros

Easy to use.
Can be set-up and running in a short time-frame (90 to 120 days).
Good, proven implementation method that essentially is done with remote support via web-ex sessions.
Full featured dashboard with short-cuts
Email alerts to keep you informed of key data changes or approvals needed
Web storefront
Very easy to customize or configure to meet your business needs
Robust reporting
Easy navigation with short-cuts and global (Google) type search capabilities for finding transactions, communications, customer, vendor or employee records.
Always updated to latest version (version updates twice year)
Can fully support with no IT staff, making use of NetSuite support as needed, however, most questions and issues can be resolved by using NetSuite's SuiteAnswers self-service solution area and extensive online help that is part of the ERP system.
Great online training tools

Cons

Support is responsive, but depending on level of support purchased can take awhile to get answers and issues resolved. We have Silver Support which is limited to submitting cases on-line and waiting for NetSuite support to respond by email or call. NetSuite does assign an Account Manager who can be contacted by phone anytime to help expedite support issues as needed.
Complex system that is very configurable to meet your needs, but this creates a lot of noise as there are many things you may not need or use, making the software somewhat confusing and cumbersome to use at times.
Must have good internet connection and bandwidth to ensure good performance. Uptime is high (99.8%), but when not working all you can do is monitor and wait for NetSuite to fix issues. Longest downtime we've had is 45 minutes.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Connie V.

NetSuite - Robust and customizable, but everything is an add-on.

Used Daily for 2+ years
Reviewed on 2018/12/13
Review Source: Capterra

NetSuite is a robust ERP system that I would generally recommend for medium to larger businesses. If you can get past the implementation phase, it is generally very easy to maintain. If you need a lot of customization for your business processes, be prepared to manage and test the customization extensively, as there are lots of nuances that can be missed during the testing phases that can prove very difficult later to fix when additional workflows or scripts are in place.

Pros

It's a reliable, secure, and easily accessible cloud service. The platform is robust, and has highly customization forms and reporting, as well as a a lot of integration potential.

Cons

The software is very expensive, and a lot of times, you will need to do heavy customization to have it fit your needs. You will need at least one full time staff on hand to manage the software as an administrator, and the training is very expensive as well. Most advanced features are an add-on, and are not cheap either. While robust, this software isn't ideal for smaller businesses because of its price tag.

Once you get the software up and running, it is very easy to maintain. However, implementation can be difficult, and success varies with the amount of customization you may need. NetSuite professional services, who offers customization build outs, generally leaves a lot to be desired. Most of their professional services providers were off-shore, and at times difficult to communicate with.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10

NetSuite Inventory Management Pricing

Starting from
US$99,00/month
Pricing options
Free Trial
Subscription
Value for money

$499 base per month + $99 per user per month.

NetSuite Inventory Management Features

  • API
  • Inventory Management
  • Inventory Tracking
  • Real Time Data
  • Workflow Management

  • Activity Dashboard
  • Activity Tracking
  • Audit Trail
  • Auditing
  • Automatic Notifications
  • Compliance Management
  • Custom Fields
  • Customizable Reporting
  • Data Import/Export
  • Document Storage
  • Invoice Management
  • Monitoring
  • Real Time Reporting
  • Reporting & Statistics
  • Third Party Integration

Additional information for NetSuite Inventory Management

Key features of NetSuite Inventory Management

  • Automated inventory replenishment
  • Automatically generate purchase or work orders
  • Bin tracking
  • Calculate demand plans leveraging historical data
  • Calculate supply plans
  • Complete business process flow
  • Easily categorize your items based on customizeable metrics
  • Effective price management
  • Enforce full traceability
  • Extensive inventory management
  • Hierarchical location definitions
  • Management of production work orders
  • Multi-location tracking
  • Online purchase order creation
  • Real-time, detailed visibility into key inventory control
  • Self-serve access to key data and information

Benefits

- Get complete real-time visibility into demand, supply, costs and fulfillment measures and trends
- Manage margins with a clear view into inventory costs, turn rates and inventory profitability
- Eliminate manual inventory management processes and improve vendor satisfaction with a seamless procure-to-pay process
- Significantly improve your relationships with suppliers, vendors and partners by providing self service and real-time visibility
- Effectively and efficiently meet customer demand, helping drive and maintain superior customer service levels
- Meet your industry's specific inventory management and purchasing needs with easily integrated add-on solutions available from SuiteApp.com.

GetApp Analysis

One of the most popular features in NetSuite’s cloud-based ERP software suite is the company’s inventory management platform. NetSuite Inventory Management gives distributors control over their inventory across multiple locations and significantly decreases the costs typically associated with order procurement, warehousing, shipping, and fulfillment.

Rather than relying on paper-based purchasing tools, NetSuite Inventory Management offers a cloud-based solution that can lower costs and streamline the distribution process.

Key performance indicators like shipping costs and delivery performance are easy to track when businesses use NetSuite Inventory Management, thanks in large part to the platform’s continuous monitoring of real-time data. As a result of using NetSuite Inventory Management, organizations are better able to calculate lead-time and reordering points based on historical and seasonal demand. They’re also able to streamline the shipping process and improve customer satisfaction overall.

Netsuite Inventory Management Overview

What is NetSuite Inventory Management?

NetSuite Inventory Management offers many of the features that distributors have come to expect from cloud-based inventory management platforms — along with a host of add-on benefits that push the system over-the-top. Syncing NetSuite Inventory Management with other business apps allows distributors to take advantage of a number of key features, including demand-based inventory replenishment, bin management, margin management, and serial and lot tracking.

NetSuite Inventory Management also offers support for matrix items. This means that distributors can manage different combinations of items in a single matrix, leading to simplified pricing and more straightforward description management. Having support for matrix items makes it easier for salespeople to identify specific item combinations for customers, based on size, color, and many other unique factors.

The other real benefit to using NetSuite Inventory Management over traditional paper-based inventory management methods involves time. Managing inventory with NetSuite Inventory Management saves distributors hours of work each week. NetSuite Inventory Management facilitates this by eliminating data entry and automating many of the tasks that are typically associated with order fulfillment. For example, NetSuite Inventory Management converts leads into orders, and orders into shipments, without the business owner having to lift a finger. This type of very advanced automation technique is one of the features that NetSuite Inventory Management uses to stand apart from competitors in its industry.

NetSuite Inventory Management Main Features

Dashboard with full inventory overview

Review your inventory management dashboard each morning to get a complete look at where your business currently stands. NetSuite Inventory Management’s role based dashboard includes information about the top five inventory sales and other key performance indicators for the current time period.

Inventory management dashboard

View your demand history

Plan for future supply issues by taking a look at the demand history. NetSuite Inventory Management shows you the demand history by item. For example, a retailer can see exactly how many mittens or hats he sold during each month of the past year. He can then use this data when making supply orders in the future.

Demand history per item

Calculate item demand plans

Not only can distributors calculate item demand on a seasonal basis, but they can also configure their NetSuite Inventory Management accounts to show item demand on a per-location basis. Projection methods and projection intervals help to refine this data even further.

Calculating demand plans

Manage new purchase orders

Create proposed purchase orders and select the specific items you need. NetSuite Inventory Management automatically derives the correct plan based on quantity, creates the purchase order, and submits it to the vendor via email, fax, or print copy. Managers can add specific rules to NetSuite Inventory Management to ensure appropriate approval has been obtained before purchase orders are sent to suppliers.

Creating purchase orders

NetSuite Inventory Management Integrations

Prebuilt integrations with UPS, FedEx, and USPS allow NetSuite Inventory Management users to streamline their shipping processes.

NetSuite Inventory Management Pricing

Pricing for NetSuite Inventory Management starts at $99 per month. Subscription plans start at a base price of $499 per month, plus $99 per user, per month.

NetSuite Inventory Management Bottom Line

  • Equipped with real-time visibility tools
  • Steamline shipping processes with prebuilt integrations with UPS, FedEx, and USPS
  • Group combinations of items into a single matrix
  • Calculate demand based on demand history, seasonal factors and location.
  • Works in conjunction NetSuite’s full product suite, syncing accounting, CRM, and e-commerce

NetSuite Inventory Management FAQs

Below are some frequently asked questions for NetSuite Inventory Management.

Q. What type of pricing plans does NetSuite Inventory Management offer?

NetSuite Inventory Management offers the following pricing plans:

Starting from: US$99,00/month

Pricing model: Subscription

Free Trial: Not Available

$499 base per month + $99 per user per month.

Q. What are the main features of NetSuite Inventory Management?

NetSuite Inventory Management offers the following features:

  • Automated inventory replenishment
  • Automatically generate purchase or work orders
  • Bin tracking
  • Calculate demand plans leveraging historical data
  • Calculate supply plans
  • Complete business process flow
  • Easily categorize your items based on customizeable metrics
  • Effective price management
  • Enforce full traceability
  • Extensive inventory management
  • Hierarchical location definitions
  • Management of production work orders
  • Multi-location tracking
  • Online purchase order creation
  • Real-time, detailed visibility into key inventory control
  • Self-serve access to key data and information

Q. Who are the typical users of NetSuite Inventory Management?

NetSuite Inventory Management has the following typical customers:

Freelancers, Large Enterprises, Mid Size Business, Small Business

Q. What languages does NetSuite Inventory Management support?

NetSuite Inventory Management supports the following languages:

Chinese (Traditional), Danish, Dutch, English, French, German, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Swedish, Taiwanese, Thai

Q. What type of pricing plans does NetSuite Inventory Management offer?

NetSuite Inventory Management has the following pricing plans:

Subscription

Q. Does NetSuite Inventory Management support mobile devices?

We do not have any information about what devices NetSuite Inventory Management supports

Q. What other apps does NetSuite Inventory Management integrate with?

NetSuite Inventory Management integrates with the following applications:

NetSuite CRM+, NetSuite OneWorld, NetSuite SuiteCommerce, Pepperi, Phocas, Workato

Q. What level of support does NetSuite Inventory Management offer?

NetSuite Inventory Management offers the following support options:

FAQs, Knowledge Base, Online Support, Phone Support, Video Tutorials