In the manufacturing industry, knowing the cost of a finished good is critically important in driving decision-making. For instance, knowing costs helps identify opportunities to reduce component costs, and help set sales prices to ensure profitability. For companies using NetSuite’s Advanced Bill of Materials feature, it can be challenging to query the required data through saved searches or Suite Analytics datasets. This can be especially so if you use multi-level assemblies. Fortunately, NetSuite released the Costed Bill of Materials SuiteApp which aims to facilitate this querying process by providing a streamlined and centralized process for pulling this important cost data. Let us dive in and see what it is all about.
Installing the Costed Bill of Materials SuiteApp
A user with the Administrator role can install the SuiteApp by navigating to Customization > SuiteCloud Development > SuiteApp Marketplace. Search for the Costed Bill of Materials SuiteApp, whose publisher should be listed as Oracle NetSuite. Click the Install button to begin the installation, but note the prerequisites before doing so:
- Advanced Bill of Materials
- Assembly Items
- Custom Records
- Server SuiteScript
- Client SuiteScript
- SuiteCloud Development Framework
Accessing the Costed Bill of Materials SuiteApp
After installation, the SuiteApp can be accessed by navigating to Reports > Cost Accounting > Costed Bill of Materials.
I will not cover the full landscape of all fields but be sure to click the field name to bring up field level help. The basic idea here is we will input the assembly, bill of materials, and revision we want to pull costs for, and set the field options for where material cost should be pulled from. Below is an illustration of a simple use case to help you visualize how the form looks.
Clicking the Submit button prompts NetSuite to query the database to pull material costs, assembled costs, and fully exploded costs. The results can be downloaded to Microsoft excel or alternatively emailed to specific email addresses. One thing I really enjoy about this SuiteApp is you are also able to simulate changes in material costs which can help you plan. With the inclusion of Assembled Costs and Fully Exploded Costs, companies using the Manufacturing Routing feature will also see those tabs populated with additional data.
The Costed Bill of Materials SuiteApp is currently free as of the date of this blog, so be sure to download it and test it for yourself. As this is a reporting tool, you may want to install it directly in your Production environment. Doing so will not impact any current processes, but you’re welcome to install it in Sandbox if you prefer.
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