The rollout of NetSuite Version 2014.1 has started. All customers are expected to be on the new version by mid-April. Read a quick summary of some of the new features being released with 2014.1 that are specifically applicable to product companies.
Unlike the last release 2013.2, which was primarily a maintenance release, this new release 2014.1 promises a number of new features across the board. If you are a product distribution company then the following are some of the new enhancements that may be of interest to you:
1. Demand Planning Enhancements
There is now better Demand Planning transparency, through the introduction of more transparency into the transaction order details, thus making it easier to validate your demand plan. Additionally there is a new control to help with prioritising orders by introducing a time fence which will recommend demand for a specific duration using:
- Actual sales orders rather than the demand forecast on the demand side and
- Supply-related orders that have already been committed on the supply side Planning actions message to alert you to planning exceptions have also been introduced.
2. New Forms
Some new forms have been introduced:
- Inventory Count - contains item information that is needed in the inventory count process.
- Manufacturing Dispatch List - provides details of new and outstanding operations by work centre, which includes labour requirements per work centre, start dates, quantity information and tasks that are past due.
- Manufacturing Traveller - that keeps track of which products need to be created or repaired and the steps needed for the specific tasks in creating the product which is passed from work centre to work centre as each manufacturing task is completed.
3. Warranty Return Management
You will now be able to set up warranty information for any item available for sale and register the warranty once the product is sold. Customers will be able to submit a claim, which you can validate to the warranty information associated with the item. Once verified you can issue a refund, repair or replace the defective item.
4. Improved Dropship and Special Shipment Syncronisation
If you use OneWorld you now have Dropship and Special Shipment synchronisation across subsidiaries to ensure intercompany sales orders and purchase orders used in any special order or drop shipment transaction are synchronised across subsidiaries. You may need this if for example data quantities change during order processing.
5. Item Specific Shipping
Item Specific Shipping allows you to now offer customers, with a free shipping coupon relating to a specific item, the ability to use the coupon for the one item and then also continue to purchase other items on the same order that are not subject to the coupon discount.
6. New Promotions Assistant
The new Promotion Assistant feature is a guide that helps you to create and manage a range of sales promotions you may want to setup.
7. Work Order Enhancements
You can now create a manufacturing work centre calendar to improve utilisation of the work centre. Additionally you can now monitor planned build-completion time for work orders against work center capacity. There is also support for Work Order completion validation which ensures that correct quantities are used and that the correct manufacturing sequence is followed.
8. PayPal Bill me Later
You will be able to offer your Web shoppers the option to pay you later using PayPal Bill me Later which offers more flexible finance options to the shopper
Next month we will look at some of the new features related specifically to Service companies.