NetSuite ERP software integration improves inventory practices to create a dynamic eCommerce store. It's easy to manage inventory across multiple sales channels that include marketplace platform sales, website sales, social media marketing, external sales efforts by staff, and sales at multiple brick-and-mortar locations. Top Benefits of Inventory Management with NetSuite Integration The benefits of integration include solving the problems that manual processing routinely generates. Information is updated in real-time so that staff and customers can log in from any device to check on orders and delivery status. The top benefits of NetSuite-specific ERP integration include: Faster Business Processing Decision-makers and company stakeholders get a 360-degree view of their customers and business intelligence integrations to make faster decisions such as how much to restock and when to invest more in certain product areas. integration improves inventory practices by speeding up information sharing for faster processing, quicker decision-making, and more appealing customer self-service features. Better Design of Marketing Campaigns Marketing campaigns depend on data--both internal and external. integration ensures a steady stream of data and automated collection and storage of valuable customer information that can be used in any marketing application. The more a company knows about its customers, the smarter the marketing campaigns it can design. It's easy to offer expanded products, cross-sell and up-sell products and accessories, and make relevant recommendations based on real behavioral data. Reductions in Cart Abandonment Rates Cart abandonment doesn’t always mean lost sales--especially in B2B sales. Fulfilling customer needs quickly and efficiently reduces customer churn and gives companies ways to revisit buyers who abandon their orders. Automate Inventory Management on-Demand B2B strategies for stocking products change dynamically according to the season, market trends, material costs, and other factors. There are a couple of ways to improve real-time inventory. First, Clarity Connect can integrate with any XML/EDI/API feeds from your vendors, pulling real-time inventory and ordering into your eCommerce platform. Next, NetSuite integrates seamlessly with SmartTurn, an application that optimizes on-demand B2B inventory management. The software duo enables better supply chain management, greater collaboration among business partners, real-time inventory visibility, and the ability to generate custom reports that can control the movement of materials and products among multiple warehouse locations. SmartTurn enables building temporary supply chains, increasing warehouse space, and reducing paperwork for more streamlined management. Enhanced Customer Service When all business applications and operating software are fully integrated, companies can offer expanded self-service options to their customers. These include facilitating committee buying decisions with highly accurate inventory counts and spot-on predictions of future inventory levels. Knowing what's available today isn't always enough when purchase orders take weeks or months to be approved by every stakeholder. NetSuite integration enables seamless planning of future inventory levels and work orders based on historical buying data, market trends, average lead times for customer PO processes, and sales forecasts. Integrated Manufacturing, Purchasing, and Inventory Management In successful B2B operations, inventory management often fails to manage every issue. Inventory counts depend on input from multiple sales channels, manufacturing capabilities, scheduled production runs, and the supply chain. If these applications aren't integrated, companies will experience inventory lock-outs at some point. integration improves inventory best practices to prevent lock-outs and cover demand in all but the most exceptional cases. NetSuite smoothly integrates manufacturing, supply chains, existing inventory, and pending product purchases to ensure a steady supply of products that meets market demand. NetSuite integration delivers a full set of tools to manage manufacturing, marketing, purchasing, and the supply chain. The assembly process is streamlined when managing multiple production orders, creating special purchase orders for components, and building multi-level assemblies. NetSuite Demand Planning NetSuite offers best-in-class inventory planning capabilities for leaner operations that still satisfy customer needs. You can automate inventory management criteria to trigger reordering, related processes, alerts, and special customer handling. Built-in NetSuite features enable companies to forecast sales and set time frames for restocking and managing seasonal fluctuations. Warehouse Control Just having enough inventory spread among multiple operations and warehouses isn’t always the most cost-effective strategy. The real-time flow of information available on an integrated platform enables better inventory control and supply chain management within a company’s warehouse locations. Some warehouses might ship more of certain products at different times of the year. Clarity eCommerce has Warehousing built-in so you can have real-time inventory management right in the storefront or marketplace. Their mobile app also provides a pick ticket scanning interface for the inventory workers as they fulfill orders. Tracking Costs and Eliminating Errors integration automates business flow processes that replace doing paperwork, making manual entries, and creating complex purchase orders. It’s easier to track all costs and eliminate errors by creating a sustained business process that includes every operation from purchasing to receivables to accounts payable. It's easy to integrate a multi-decision buying process into a standard business flow. Statistical Support for NetSuite Integration integration improves inventory best practices for managing warehouses and logistics. One study found that between 2016 and 2017, 25 percent of retailers and manufacturers invested in warehouse management technology. The number of warehouses in the United States increased by 10.4 percent from 2013 to 2017. [1] Revenue at companies with fully integrated platforms is 20 percent higher than in non-integrated companies. More than 60 percent of companies are looking at supply chain automation, and that figure is expected to rise by 23 percent within a year. [2] NetSuite integration Best Practices The best integration strategy depends on your business, industry, and staff skill level. That’s why it’s important to choose a development partner that’s experienced in B2B inventory management software and willing to listen to your concerns. Offering modular development options is a big plus. Clarity eCommerce has lots of experience in designing B2B applications and integrating them. You won’t have to worry that your staff can’t handle the upgrades because Clarity helps to train staff, troubleshoot problems and test every project. You’ll improve inventory management with NetSuite integration at your own pace and build a custom integration for other business applications without the usual long lead times and staff training to become fully comfortable with the technology. References: [1] Skunexus.com: 6 Stats that Prove Inventory Management is Essential in 2018 https://www.skunexus.com/blog/inventory-management-statistics [2] Explorewms.com: 15 supply chain management statistics that may surprise you https://explorewms.com/key-supply-chain-management-statistics.html