RSMUS.comNetSuite 2024.2 brings plenty of updates and excitement in area of supply chain, manufacturing, and distribution industry. The focus of this update addresses many of the industry’s immediate challenges such as maintaining the accuracy of inventory, production planning optimization and managing costs. Let’s take a look into what the latest features are and how NetSuite 2024.2 can aid in your business goals!
To start off strong, three new SuiteApps focused on manufacturing have just been released.
NetSuite Supply 360
This SuiteApp focuses on analyzing and managing component shortages across work orders. Key features include:
• Component analysis across work orders based on selected locations and dates, offering clear visibility into potential shortages
• Proactive inventory management to predict and prevent shortages, enhancing supply chain and production planning efficiency
NetSuite Available to Build
The NetSuite Available to Build SuiteApp helps manufacturers determine how many assemblies or kits they can produce with their on-hand inventory. Key features include:
• Calculating the number of assemblies or kits that can be produced based on current on-hand inventory levels
• Utilizing the Bill of Materials (BOM) for calculations, with optional integration with the Item 360 SuiteApp, which provides additional dashboard functionality
• Integrating the “Available to Build” feature within the Sales Order (SO) page to streamline order fulfillment, improve efficiencies, and better manage customer expectations
Cost Variance Analysis
This SuiteApp is designed to analyze work order variances. Key features include:
• Analyzing quantity and cost variances between expected and actual work order values after a work order is completed, based on performance, cost type, and cost categories.
• Generating detailed reports on variances for different work orders, which can support further analysis to address cost discrepancies, improve efficiency, and proactively manage cost overruns.
Additional updates to existing functionality:
WMS Updates
• Enhanced bin replenishment scheduling for optimized inventory management.
• WMS Mobile App:
- Cycle counts can now be performed directly within the app, streamlining inventory tracking.
Mobile App Updates
SCM Mobile App
• Data tables now feature color coding based on the status of work orders and sales orders.
• Printer groups can be organized to ensure nearby printers are used efficiently.
• Custom record files and images can now be uploaded directly via the app.
Manufacturing Mobile
• Scan GS1 barcodes to automatically populate lot and serial numbers.
• Automatically generate lot numbers through integration with the Lot Auto Numbering SuiteApp.
Ship Central
• Automatically select the most cost-effective shipping option to meet delivery dates.
• Include return shipping labels in outbound orders with options for differing shipping methods.
- Customizable labels are available for hazardous materials (hazmat) when using USPS or DHL for specific items like alcohol.
MRP (Material Requirements Planning)
• Lot size is no longer restricted by minimum order quantity in supply planning.
• Demand planning and purchase lead times have been extended from 1 year to 3 years.
• The Supply Planning Workbench now includes new filters for firm and unfirm supply orders.
Key Takeaways
The updates and new features in NetSuite 2024.2 are designed to enhance efficiency in the manufacturing, distribution, and supply chain industries. Combined with the expertise of the RSM NetSuite team, these advancements can help your business achieve both short- and long-term goals.
Interested in learning more?
Explore solutions like the Benchmark 360 SuiteApp and Minimum Order Quantity for Lot Sizing in Supply Planning.
Get in touch with our team today to receive personalized insights and create a roadmap toward your business aspirations!
RSM Canada | RSM US
Mindy Tan
Mindy Tan is a NetSuite consultant focusing on the industrials and consumer products industries. With her experience in inventory and security, she has contributed to multiple client engagements, collaborating with organizations of different scales by completing assessments, implementations, and optimizations.
