MusclePharm Scales Amidst 35x Revenue Growth with NetSuite

MusclePharm

"NetSuite is a key factor enabling MusclePharm to scale incredibly fast and add new business units to fuel rapid growth." MusclePharm

Company at a Glance

Location:
Denver, Colo.
Industry:
Manufacturing/Distribution/Retail
Applications Replaced:
QuickBooks

Solutions

NetSuite
NetSuite OneWorld

Customer Success:

  • Award-winning sports nutrition company, MusclePharm (OTCQB: MSLP) has grown revenue 35x since going live on NetSuite in 2010, from $3.2 million to more than $110 million in 2013.
  • Replacing QuickBooks, NetSuite has helped MusclePharm efficiently expand its business across more than 120 countries and 35,000 retail outlets, including Bodybuilding.com, Costco, Dick's Sporting Goods, 24 Hour Fitness and GNC.
  • NetSuite's cloud architecture has helped MusclePharm integrate its sales, warehousing and call center operations in Tennessee, Idaho, Denver, Ohio and Canada.
  • NetSuite's flexibility enabled MusclePharm to efficiently integrate BioZone, a contract manufacturer, acquired in January 2014, into the growing business.
  • The OneWorld global business management solution supplies subsidiary management and global financial consolidation for BioZone and a Canadian subsidiary. NetSuite's flexibility helped MusclePharm launch a new line of Arnold Schwarzenegger-branded products in 2013, as well as a new brand for women, FitMiss.
  • Through NetSuite SuiteFlex, branded direct-to-consumer websites for www.musclepharm.com, www.arnold.com and www.fitmiss.com link directly to NetSuite financials and inventory.
  • Move from a third-party logistics provider (3PL) to NetSuite inventory and warehousing in 2013 reduced costs and improved fulfillment speed.
  • NetSuite's inventory management delivers vast improvements in stock visibility for faster, accurate response to customer inquiries.

Challenges:

  • Previous QuickBooks application lacked scalability and functional scope required to meet MusclePharm's rapid growth objectives.
  • Reliance on third-party distribution partner provided no visibility into inventory, complicating the supply chain and fulfillment processes.

Solution:

  • After evaluating SAP and Microsoft Dynamics GP, MusclePharm selected NetSuite as a highly flexible, scalable and integrated ERP solution ideal to support its ambitious growth plans.
  • NetSuite partner Avalara automates tax calculations and remittances in more than 10,000 tax jurisdictions in the U.S.
  • NetSuite integration with third-party solutions has enabled MusclePharm to build out its environment with Tableau for visual analytics, Direct ConneX for warehouse control and Logility for demand planning.