Inventory Management
Serial and Lot Number Tracking
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Serialized inventory enables the tracking of products through all key stages—production, sales, shipment and service. It also lets you track the specific cost of each serial number as products are bought and sold, helping to monitor and optimize inventory processes. Similarly, lot items can help you track the specific cost for each lot as products are bought and sold.
NetSuite wholesale distribution software application recognizes that you need to track the complete history of each serial and lot number, which is why we provide these powerful capabilities in our software for wholesale distributors.
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- Track the end-to-end transaction history of your inventory, leading to higher efficiency and better inventory management. For example, if an item is defective, you can quickly and easily ascertain its point of origin and take necessary steps to correct the situation.
- By assigning and tracking expiration dates on lot items, you can be confident of sending only high quality products to your customers. All of your products will meet the high standards that customers today demand.
- Track your entire inventory down to the last item, including the associated costs, thereby saving money while gaining tighter control of stock levels.
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- Track serial numbers along each step of the business cycle: where an item came from, where it went and when.
- Do serial- or lot-specific costing, such that serial and lot numbers have precise costs associated with them.
- Track the end-to-end transaction history of your products, including where products originated and where/if they are in transit.
- Include serialized and lot items in assemblies, or build assemblies that have serial or lot numbers assigned to them.
- Identify serial and lot numbers on customer records, giving employees a point of reference when handling returns or support cases.
- When using lot number items, you can assign and track expiration dates, which is critical for items that have a limited shelf life.
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