Effectively Meet Anticipated Demand For Goods
More Productive Business
NetSuite Demand Planning enables businesses to effectively meet anticipated demand for goods, something that is a vital part of a strong inventory management procedure. If firms are not able to do this, they may frequently find themselves carrying either too little or too much stock for current conditions.
What this means is companies can end up spending more than necessary on expedited and emergency shipments to replenish their inventory quickly, or have a large amount of capital tied up in excess stock. Therefore, solutions to make the processes of balancing inventory levels with expected demand easier will be crucial not only to making your business more productive, but also keeping customers satisfied.
With the tools included in the NetSuite Demand Planning module, you can use historical data, trends and sales forecast information to predict future demand for inventory and plan accordingly, incorporating preferred stock levels. The plans this generates are calculated on a per-location business to take into account projected demand in a given area.
This information will allow you to streamline your replenishment processes, using a list of recommended purchase orders based on parameters you set in the item record. The supply plan can include preferred vendors on the purchase order and also automatically calculate ordering requirements.
Model Your Inventory Levels
A key feature of NetSuite Demand Planning is the Gross Requirement Inquiry, which can accurately model how expected sales and purchase orders will affect future inventory levels. This is essential in allowing firms to understand the impacts of different levels of demand on all aspects of their business.