Partner Spotlight Webinar with Netstock
April 18, 2024 | Author: Jeni Patterson
NETSTOCK & NETSUITE:
TRANSFORM YOUR INVENTORY MANANGEMENT
Inventory management is often a tug-of-war between financial prudence and meeting customer demand. Companies grapple with stockouts that lead to lost sales and disgruntled customers, while excess stock ties up valuable working capital, especially critical during times of high interest rates and tight credit conditions. Traditional methods, reliant on manual processes and complex spreadsheets, are not only time-consuming but prone to errors, making effective inventory control elusive.
Moreover, Netstock’s dashboard offers a comprehensive overview of inventory status, highlighting areas where there is excess stock or potential shortages. This proactive approach not only helps in maintaining the right stock levels but also in planning for future demand with robust forecasting tools. The system uses historical sales data to predict future trends, helping companies prepare for upcoming needs without overcommitting resources. The benefits of using Netstock extend beyond just inventory management. By reducing the time and effort spent on manual inventory processes, companies can reallocate resources to more strategic initiatives. Improved inventory accuracy and efficiency lead to better customer service and potentially higher sales, as products are available when needed.
Senior Solutions Consultant at Netstock, Tom Wilson, explained how Netstock addresses theseissues by enhancing visibility and control over inventory. The tool integrates seamlessly with NetSuite, pulling data directly from the ERP system to analyze and provide actionable insights. This integration allows for real-time inventory tracking and management across multiple locations, ensuring that companies can maintain optimal stock levels.
One of the standout features of the Netstock tool is its dynamic classification system. This systemcategorizes items based on their value and sales velocity, allowing companies to prioritize their inventory management strategies. High-value, fast-moving items receive aggressive replenishment policies to avoid stockouts, while lower-value items are managed to reduce financial risk.
The webinar not only showcased the capabilities of Netstock integrated with NetSuite but also demonstrated the practical application of these tools in a live environment. Attendees saw firsthand how the system could identify and resolve inventory issues before they impact business operations.
For businesses struggling with inventory management, the combination of Netstock and NetSuite offers a powerful solution that enhances operational efficiency and improves financial performance. As companies look to streamline their operations and focus on growth, tools like Netstock that integrate deeply with ERP systems will become increasingly vital.
NETSTOCK & NETSUITE:
TRANSFORM YOUR INVENTORY MANAGEMENT
This session is just one part of Meridian Business’s ongoing efforts to introduce transformative solutions that complement and enhance NetSuite ERP capabilities. With more webinars and partner spotlights on the horizon, Meridian continues to be a pivotal resource for companies seeking to leverage technology to its fullest potential.
About Netstock:
Over the last 15 years, Netstock has built out a regional presence that provides deep insights into supply chain planning factors in each market. Netstock continues to enhance their supply chain planning solutions, making their predictive engine smarter, accelerating automation, and adding sophisticated new capabilities such as AI and machine learning.
About Meridian:
Meridian is an award-winning NetSuite Solution Provider specializing in consulting, implementation, support, and development of the full range of Oracle NetSuite products. As a NetSuite partner, Meridian’s purpose is to equip our clients, our team, and our communities to transform. Meridian, with offices in Overland Park, KS (Kansas City) and Omaha, NE has extensive experience delivering products and solutions to help clients make more effective business decisions in a wide array of industries.
