SAN JOSE, Calif., May 17, 2016 /PRNewswire/ -- NETSUITE
SUITEWORLD 2016 -- NetSuite Inc. (NYSE: N), the industry's
leading provider of cloud-based financials / ERP and omnichannel
commerce software suites, today announced the release of NetSuite
Intelligent Order Management. The new capabilities unveiled today
help meet rising customer expectations and streamline the
constantly-evolving complexities of omnichannel order
orchestration. Merchants get the intelligence and automation needed
to help use inventory more efficiently, reduce shipping costs and
improve the customer experience.
NetSuite Order Management is one of the most widely used
cloud-based, order management solutions in the world. In 2015,
merchants using NetSuite's solution transacted more than 246
million orders, a 46 percent increase from 2014. Total dollar order
volume also soared, exceeding $180.5
billion in 2015, a 32 percent increase from 2014. Merchants
continue to adopt NetSuite's order management solution at a rapid
pace, according to IDC1, for B2B and B2C channels –
website, mobile, in store, phone, direct sales and
system-to-system.
Built on this success and momentum, NetSuite, in this new
release, adds intelligent omnichannel order allocation so merchants
can automate how to best fulfill orders based on their inventory
availability and the configurable business rules they establish
inside NetSuite. The functionality helps turn omnichannel shoppers
into brand advocates with reduced stockouts, prompt delivery and a
multitude of fulfillment options from wherever a merchant holds
inventory. Merchants are better equipped to meet demand, increase
inventory turns and reduce safety stocks, and are better able to
scale their business while keeping labor costs flat.
Designed for high order volume, NetSuite helps merchants
efficiently manage fulfillment, eliminate manual work and manage
only by exception. In addition, NetSuite's cloud-based technology
deploys quickly and allows merchants to iterate rapidly as their
business evolves.
"Getting customers what they want and when they want, every
time, delivers a competitive advantage through an improved brand
experience," NetSuite's General Manager of Commerce Products,
Andy Lloyd says. "In addition to
satisfying customer expectations, an effective order management
solution protects a merchant's margins so it can more profitably
scale its business."
True Brands is a multi-brand, global designer and supplier of
beverage lifestyle accessories. The Seattle-based merchant has experienced 30
percent, year-over-year growth but its disparate systems and manual
processes required increasing support, which eroded profits. In
early 2015, the company replaced multiple, on-premise, back-office,
legacy systems with NetSuite's cloud-based ERP platform,
eliminating data silos, consolidating systems and streamlining its
operations. In mid-2015, True Brands deployed NetSuite's ecommerce
platform, SuiteCommerce, powering the merchant's established B2B
and growing B2C channels. All of its nine brands share the same
cart, providing a seamless experience as customers shop from one
brand to another. True Brands now has a single, cloud-based
solution from its back office to its front-end, customer-facing
systems.
The company operates three, US distribution centers and
processes more than 2,500 B2B orders a week through its websites
and call center. To further automate processes, improve margins and
improve the customer experience, True Brands has added NetSuite
Intelligent Order Management, eliminating its costly and best-guess
practice of sales representatives determining how orders get
fulfilled and shipped.
"In our business, it comes down to two things – great customer
experience and business controls," True Brands' owner Nik Patel, said. "With NetSuite, we're getting
orders out fast and cost-effectively so we can pass the savings
onto our customers."
NetSuite's new intelligent order capabilities facilitate the
perfect order with the following functionality:
Order sourcing and allocation. NetSuite's automatic
location assignment allows vendors to optimize for reduced costs,
faster delivery or a combination of factors to enable a
fulfill-from-anywhere solution across all channels.
Release for fulfillment. Merchants get control over their
release-for-fulfillment process with a second, automated process,
which decides when to release orders and notifies each fulfillment
location of which order to fulfill. Fulfillment managers get full
visibility into the process – released orders, fulfillment status,
and order exceptions.
Exception management. Merchants can automatically handle
most order exceptions so the business scales with fixed headcount.
NetSuite attempts to fulfill exception orders then informs the CSR
or fulfillment manager of an unfilled order. Exceptions caused by
inventory discrepancies are automatically flagged for
resolution.
Store pickup. Merchants control which locations and items
participate in the pickup process. NetSuite updates sales orders
for store pickups and mixed orders. Once received, fulfillment
requests are automatically generated, notifying a store of the
order. When inventory is selected, the system notifies the customer
their order is ready.
Ship from store. Merchants can save the sale by
fulfilling from stores to meet customer demand, increase inventory
turns and reduce markdowns. Merchants control which locations and
items participate in the shipping process, while managing store
capacity and inventory buffering to balance in-store and ecommerce
fulfillment.
Order management insight and KPIs. Merchants empower
operations managers to measure their attainment of the perfect
order with insight and intelligence, from promising and allocation,
to orchestration and fulfillment, through to payments and
returns.
Today, more than 30,000 companies and subsidiaries depend on
NetSuite to run complex, mission-critical business processes
globally in the cloud. Since its inception in 1998, NetSuite has
established itself as the leading provider of cloud-based
financials/enterprise resource planning (ERP) and omnichannel
commerce software applications for businesses of all sizes. Many
FORTUNE 100 companies rely on NetSuite to accelerate innovation and
business transformation. NetSuite continues its success in
delivering the best cloud business management software to
businesses around the world, enabling them to lower IT costs
significantly while increasing productivity, as the global adoption
of the cloud accelerates.
For more information about NetSuite please visit
www.netsuite.com.
Follow NetSuite's Cloud blog, NetSuite's Facebook page and
@NetSuite Twitter handle for real-time updates.
NOTE: NetSuite and the NetSuite logo are service marks of
NetSuite Inc. Third-party trademarks mentioned are the property of
their respective owners.
1According to the IDC report, "Worldwide Order
Management Market Shares, 2014: Digital Commerce Drives
Growth," published July 2015, "Cloud
software vendor NetSuite was the fastest growing in the 2014 order
management market, with 32.3% growth over 2013."
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SOURCE NetSuite Inc.