SAN JOSE, Calif., May 18, 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 the
NetSuite Retail Apparel Edition – created to address the growing
challenges of apparel and accessory retailers. Built on NetSuite's
unified, cloud-based platform for ERP, planning, ecommerce and
point-of-sale (POS) technologies, the new solution adds features
and functionality designed specifically for retailers and is
further enhanced by complimentary partner technologies. Apparel and
accessory retailers can now accelerate time to value, streamline
their operations and meet the ever-changing expectations of
shoppers with a seamless, omnichannel customer experience.
Traditional ERP and retail management systems have historically
failed to effectively serve apparel businesses as they expand from
manufacturing and distribution, to selling direct to consumers,
making their supply chain and customer relationships infinitely
more complex. Purchasing one-off, disparate systems creates
multiple data silos that are costly to maintain and actually
degrade the customer experience.
"Apparel retailers require a platform that unifies their brand
and their customers' experience. The multiple, back-office and
front-end systems they struggle to keep in sync simply cannot keep
up with their complex business models, selling channels and
fast-paced trends," NetSuite's General Manager of Global Retail,
Branden Jenkins said. "At the same
time, shoppers demand an engaging, omnichannel experience that
moves with them as they constantly redefine the digital and
in-store shopping journeys, rewarding retailers with their loyalty
and repeat purchases along the way. NetSuite's cloud-based platform
and industry-specific solution can solve these challenges and
ensure that retailers will never be left behind again with outdated
technology."
Luxury accessories brand Hammitt replaced several on-premise
systems with NetSuite to get a unified, operational foundation for
its business. Hammitt currently relies on NetSuite for financials,
inventory management, manufacturing, fulfillment, reporting, demand
planning and reverse logistics. Unlike other companies that rely on
legacy systems and commit to an entire season's order four to six
months in advance, NetSuite's order management and forecasting
capabilities enable Hammitt to replenish inventory with as little
as three weeks lead time. Hammitt experiences more inventory turns
per year than competitors, making more efficient use of capital and
reducing its amount of unsold product.
"NetSuite's end-to-end solution provides the real-time
visibility, reporting and planning capabilities needed to redefine
our business and our industry," Hammitt CEO, Tony Drockton said. "With NetSuite's Retail
Apparel Edition we can accelerate innovation, expand our footprint
and better serve our customers."
The NetSuite Retail Apparel Edition builds on the functionality
already in NetSuite's core platform with industry-specific
features, including:
Unified Online and In-Store Shopping – Provide shoppers
with seamless, omnichannel journeys that enhance a purchase,
fulfill and return anywhere experience.
- Store Locator and Inventory by Item - Shoppers gain
inventory transparency via the website to determine which store has
an item in stock. Merchants can save online sales by catering to
customers' hybrid shopping patterns.
- Store Pick-up Enhancements - Customers receive an email
when the item they purchased online is ready for store pick-up.
Merchants can reduce overhead and shoppers get a timely and
convenient fulfillment experience.
Enriched Online Experience – Shoppers get a range of
apparel- and accessory-specific website features that can enhance
and advance the buying process.
- Instagram Hashtag Gallery – Manage and display galleries
of related Instagram images from brand influencers and enthusiasts.
Manage hashtags for specific product pages to convert sales and
build brand loyalty.
- Lookbook – Marketers can create a specific look,
enabling shoppers to easily purchase from that curated page to
simplify and expedite the buying process.
- Size Chart – Provide shoppers with size charts relevant
to each product on the website to help reduce returns and protect
merchants' margins.
Optimized Inventory Allocation – Intelligently choose how
to fulfill orders based inventory availability and pre-defined
business rules.
- Inventory Allocation to Sales Orders – Sales
representatives view real-time inventory availability to
confidently take orders and promise inventory across all locations
and the supply chain. Also allocate retail orders from the same
inventory pool to streamline operations and consolidate
systems.
- Auto Location Assignment – Help to optimize shipments
with rules to automatically fulfill orders based on a retailer's
preference. Merchants can compete with faster delivery times and
reduce overhead with more efficient fulfillment processes.
Merchandise Management – Tools to streamline manual
processes for entering sales, purchase, transfer and bulk
orders.
- Grid Order Entry – Merchants can more quickly input
transactions and view inventory data at a style-matrix level.
- Bulk Transfer Order – Eliminate manual entry of transfer
and replenishment orders with quicker, bulk transfers of inventory
across multiple warehouses and retail locations.
Retail Business Operations – Increase time to value with
built-in roles and business intelligence tools, shifting effort
from configuring the solution to gaining rapid insight into
operations.
- Preconfigured Dashboards - Instant access to the
dashboard needed for apparel- and accessory-specific roles such as
inventory manager, store manager and warehouse manager.
- Predefined Reports, KPIs and Metrics – Data intelligence
specific to retail apparel provides insight into top selling items,
units per transaction, shrink reports, sales per hour, sell-through
figures and retail stock-ledger.
To complement NetSuite's Retail Apparel Edition, key strategic
partnerships between NetSuite and leading apparel solution
providers offer merchants tightly-integrated, complimentary
solutions to NetSuite. Some of the many partnerships include WFX
(World Fashion Exchange) – a provider of cloud-based, customizable
software solutions which efficiently manage apparel product life
cycles. Customer marketing technology from Clutch consolidates
and analyzes omnichannel customer and commerce activity, and allows
consumers to manage their account and profile, and track their
loyalty points, rewards and gift cards.
To learn more about NetSuite's Retail Apparel offering, please
visit www.netsuite.com/fashion.
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.
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SOURCE NetSuite Inc.