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 significant
new features designed to help companies that outsource
manufacturing optimize their operations across every step of the
product lifecycle, supply chain and order fulfillment with
NetSuite. In addition, the new release will deliver collaboration
and deep integrations with partners across manufacturing, logistics
and shipping.
Today's manufacturers confront significant challenges in the
marketplace, including global competitive pressures, high operating
costs, and evolving customer expectations. Many manufacturers have
adapted by focusing more narrowly on innovative design and managing
and phasing out their products to stay ahead of customer demand and
trends. They seek to spend less capital on manufacturing,
distribution and capital expenses like equipment and warehouses;
instead, relying on global partners to produce and ship their
products. In this competitive and fast-changing environment, they
need flexible, cloud-based systems that allow them to quickly adapt
and collaborate with partners. However, many manufacturers are
still struggling with aging on-premise software and managing
multiple, disparate systems; version lock; no real-time visibility
into the business; and data silos that create a huge disconnect
between shop floor and top level operations.
NetSuite provides innovative companies outsourcing manufacturing
with a complete and connected business suite with scalable,
intelligent, easy-to-use features that advance supply chain
collaboration and streamline all internal and external business
processes and transactions.
"Changing customer expectations and global market forces now
require manufacturers to be more nimble and innovative than ever
before," said Jim McGeever,
President and COO of NetSuite. "Unfortunately, many manufacturers
are still struggling with systems designed for another era that
can't adapt to their needs today. With a unified, flexible and
cloud-based system, NetSuite is delivering the collaborative tools
to optimize operations today and adjust to the needs of
tomorrow."
With NetSuite, manufacturers gain access to a modern cloud
solution that can transform their business, bringing them to the
forefront of modern manufacturing and helping to position them for
the industrial Internet-of-Things (IoT).
The enhancements announced today deliver key benefits across
product lifecycle management (PLM), supply chain execution, order
fulfillment and partner integration.
Comprehensive PLM in a Single Suite
As product companies outsource manufacturing and shipping, they
need tools and technologies that will enable them to monitor the
products' lifecycle and make sure the supply chain is prepared for
changes in demand and requirements. Because NetSuite is a full
suite, it provides capabilities to manage all product
functionalities including:
- Advanced Bill of Materials (BOM) functionality allowing a
single BOM to be used for multiple manufactured items and
manufacturing locations—reducing maintenance and data
inconsistencies.
- Integrated repeatable, workflow-driven process for new product
introduction, one of the most challenging phases of a product
lifecycle.
- Easy coordination and collaboration within the enterprise and
connected supply chain.
- Faster speed to market.
- A more deeply connected supply chain with partners sharing
data, enabling greater innovation.
Seamless Supply Chain Execution
As transportation costs have risen, often canceling out low
labor costs, and customers expect faster and faster shipping times,
manufacturing facilities, distribution centers and 3PLs need to be
strategically placed, globally. NetSuite, with its cloud-based
architecture and global footprint, allows manufacturers to quickly
establish operations and connect with partners. Companies can
position consigned inventory at the contract manufacturer and
customers if necessary, and even incorporate 3PLs as subsidiaries
if they want to have product cost integration and visibility. The
latest enhancements to NetSuite's manufacturing capabilities enable
improved supply chain execution through:
- Easy visibility to time-phased demand and supply.
- Alerts when plans change and action is required or
beneficial.
- Minimizing inventory investment while maximizing customer
responsiveness.
- Freeing up cash to invest in other products and
activities.
- Optimizing the entire supply chain as an organism, not
individual locations independently.
Optimized Order Fulfillment
With manufacturers, warehouses, shipping partners and customers
spread across the globe, achieving visibility into inventory and
fulfilling the order in the right time at the right price has never
been more difficult. With the latest enhancements, NetSuite is
enabling manufacturers to optimize their order fulfillment
processes with support for:
- Drop-ship and special orders.
- Visibility into distribution center and 3PL orders.
- Serial / Lot / Expiration traceability.
- Tracking of the country of origin and importer of record for
each product.
- Transfer of legal ownership where appropriate.
Deep Partner Integrations
Outsourced manufacturers rely heavily on their partners at every
step along the supply chain and production process. Maintaining
seamless integration and close collaboration with these partners is
vital for modern manufacturers to survive in a global economy.
NetSuite's powerful SuiteCloud development platform enables tight
integration with manufacturing, shipping and logistics partners
around the globe through:
- Pre-built integrations with leading PLM software vendors,
including Autodesk and Arena.
- Supply chain execution and management integrations for both
inventory and schedule data for contract manufacturers, vendor and
3PLs, and product quality data for contract manufacturers and
outside vendors.
- Order fulfillment integration for 3PL shipment data, shipping
data, legal transfer data and the ability to provide shipment data
direct to customers.
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.
Follow NetSuite's Cloud blog, NetSuite's Facebook page and
@NetSuite Twitter handle for real-time updates.
For more information about NetSuite, please visit
www.netsuite.com.
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.