Senior VP, Corporate Communications
NETSUITE WHOLESALE/DISTRIBUTION EDITION VERSION 2007.0 TARGETS MID-MARKET COMPANIES WITH NEW FEATURES TO ADDRESS DEEP, INDUSTRY-SPECIFIC NEEDS
NetSuite Extends Leadership in On-Demand Business Application Suites for Industry Verticals
New Features Bring Power and Ease to Mid-Market Wholesalers and Distributors
LONDON, 13 September 2007 — NetSuite Inc., a vendor of on-demand, integrated business management application suites that provide ERP (Enterprise Resource Planning), CRM (Customer Relationship Management) and Ecommerce functionality for small and medium-sized businesses and divisions of large companies, today announced its Wholesale/Distribution Edition targeting medium-sized wholesalers and distributors. Key features added include Advanced Inventory and Order Fulfillment, Demand-based Inventory Replenishment, Transaction Forms Assistant, Matrix Item Assistant, Vendor Returns, and Wholesale / Distributor Customer Portals. These features provide deep, industry-specific capabilities while bringing both power and ease to wholesale / distribution companies to run their entire business cycle — from lead generation to sales orders, and from warehouse and inventory management in multiple locations to shipping — with accounting support throughout. For more information about NetSuite Wholesale / Distribution Edition, please visit www.netsuite.com/wholesaledistribution
Growing and medium-sized wholesale / distribution companies have the same challenges as their large business counterparts when it comes to business processes. And these mid-market wholesalers and distributors are continually pressured by the complex requirements forced upon them by larger trading partners, global competition, multiple global locations, small margins, and ever more demanding customers. With the new NetSuite Wholesale / Distribution Edition, these mid-market companies, more than ever before, can combine the functionality and power previously available only to the world's largest wholesalers and distributors with a cost structure they can afford, coupled with unprecedented ease-of-use.
NetSuite Wholesale / Distribution Edition
The new NetSuite offering takes the input of existing wholesale / distribution customers to deliver the first integrated on-demand suite designed specifically for their unique business process needs. The system gives companies customer relationship management linked seamlessly with back-office inventory management, fulfillment, and accounting processes all within a single, flexible business application. The new edition, supported by a best-practices implementation methodology, includes a host of new features to meet the needs of medium-sized distributors including:
- Advanced Inventory & Order Fulfillment: NetSuite saves any distribution company countless hours of work associated with data entry, organisation and fulfillment by automating the order fulfillment lifecycle. Distributors can convert leads to opportunities to orders, orders to shipments, and shipments to revenue — in short order. NetSuite supports complex needs with multiple price levels, discounting, multi-location inventory, bin management, kits and assemblies, multiple units of measure, lot tracking, serialised inventory and specific costing, matrix items and bar coding. NetSuite even automates what has been the bane of every distributor: returns management.
- Demand-based Inventory Replenishment: Based on sales history and inventory reorder points, reorder levels can be dynamically calculated, based on historical sales or seasonal demand. Average lead time, historical or seasonal-based sales demand, and number of days supply to stock are used to dynamically set reorder point and preferred stock level for each item across each warehouse location, on an ongoing basis so there will always be stock on hand but ordered just-in-time.
- Matrix Item Assistant: Complex inventory (stock) management for multi-variant products and inventory, such as fashion items with sizes / colors / fabrics, is made simple with guided steps that simplify the multi-task, complex workflow involved with managing multiple product configuration dimensions. Numerous catalog item options can be created on-the-fly and item specifics can be edited in-place. The result is that complex matrix relationships of product options are managed as a single parent with separate inventory levels for each individual matrix combination.
- Wholesaler/Distributor Customer Portal: NetSuite empowers customers with a self-service portal for 24 / 7, real-time visibility into order status, shipment tracking, invoices, service case management, and more. Vendors can deliver customer-specific websites, complete with individualised products, pricing, and terms. Customers can place orders, make payments and create new support cases in the system.
- CRM for Distributors: NetSuite is the first and only on-demand suite that gives sales reps real-time available-to-promise and inventory commitment for accurate order promising and increased product delivery and overall service levels. With a single view of the customer throughout the business, NetSuite enables first contact issue resolution — the hallmark of superior service and cost management in the distribution industry.
- Business-wide Dashboards to Manage an Entire Distribution Business: With 15 out-of-the-box, role-based dashboards, executives, customer-facing sales, marketing and support managers and associates; inventory and warehouse managers; and the market-invigorating ecommerce manager all have a personalised workplace.
Designed for mid-market wholesale/distribution companies, additional new features include:
- Graphical, Transaction Form Assistant
- Vendor Return Authorisations
- Order Management Flexibility
- Multi-Location Inventory — "On Hold" Stock Locations
- Customisable Inventory & Fulfillment Processes
"We have been using NetSuite for almost three years, and during that time NetSuite's flexibility has allowed us to increasingly automate what had always been manual processes," said Keith Davis, Financial Director, Endoscopy UK, based in Gloucestershire, UK. "With this new version of NetSuite, especially with the improved multi-location inventory, order management flexibility, and vendor return authorizations, we can do things we simply couldn't do before. It's a more user-friendly NetSuite that gives us a system that is more nicely integrated than ever."
Pricing and Availability:
Available now, NetSuite Wholesale/Distribution Edition Version 2007.0 is priced at Wholesale/Distribution Edition is £600 per month.
For more information about NetSuite, please visit the NetSuite website.
NOTE: NetSuite and the NetSuite logo are registered service-marks of NetSuite Inc.