If you have worked with NetSuite item records, you might be familiar with the Locations subtab found under the Purchasing/Inventory tab. In general, this tab offers useful informational attributes about an item including inventory, costing, among others. However, depending on the features you have enabled in your environment or the needs of the people working with these item records, the amount of information displayed can equate to noise. To address these and other concerns, NetSuite has developed a feature named Advanced Item Location Configuration which we will review in this blog.
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Tags:
NetSuite,
ERP,
Reporting,
NetSuite Partner,
NetSuite How To's,
NetSuite Tips,
Inventory,
Items,
Costing,
Configuration,
Location
New to NetSuite Workflows? These powerful tools automate processes, ranging from simple to complex.
Let's walk through a basic introduction: Imagine you want a field to automatically update based on a transaction's status. In this example, we'll set a checkbox to true when a Sales Order reaches a specific stage.
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Tags:
NetSuite,
ERP,
Project Management,
NetSuite Partner,
NetSuite How To's,
Accounting,
NetSuite Tips,
NetSuite Integrations,
NetSuite Administrator,
Customize,
Inventory Costing,
Netsuite ERP,
Pricing Groups,
Group Pricing,
Netsuite Updates,
NetSuite Features,
NetSuite Support,
COGS,
Costing,
Customer Returns,
Return Costings,
Item Returns
For many clients, managing customer returns is an important business activity. In addition to the logistical challenges of approving customer returns and providing customers with a way to send back defective merchandise, an important consideration is ensuring these customer returns are accounted for properly. When a customer returns inventory, it is important that the cost of that inventory is accurately assessed and captured in the books. NetSuite offers several process options to help manage this which we will review on this blog.
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Tags:
NetSuite,
ERP,
Project Management,
NetSuite Partner,
NetSuite How To's,
Accounting,
NetSuite Tips,
NetSuite Integrations,
NetSuite Administrator,
Customize,
Inventory Costing,
Netsuite ERP,
Pricing Groups,
Group Pricing,
Netsuite Updates,
NetSuite Features,
NetSuite Support,
COGS,
Costing,
Customer Returns,
Return Costings,
Item Returns
For companies who maintain perpetual inventory, inventory allocation is an important business process area to track. Understanding the relationship between supply and demand, and having the systemic tools to manage this, is critical to ensuring the company is able to meet customer needs. This involves making sure you not only have the required supply, but that you are able to have the required supply when the customer needs it. Fortunately, NetSuite provides the Supply Allocation feature which, when configured, can help you match both existing and future supply to customer demand. Let us take a look at how this works.
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Tags:
NetSuite,
ERP,
Project Management,
NetSuite Partner,
NetSuite How To's,
Accounting,
NetSuite Tips,
NetSuite Integrations,
NetSuite Administrator,
Customize,
Inventory Costing,
Netsuite ERP,
Pricing Groups,
Group Pricing,
Netsuite Updates,
NetSuite Features,
NetSuite Support,
COGS,
Costing
As you journey through your NetSuite implementation, one important consideration may be deciding which costing method to use for your items. NetSuite offers a multitude of costing methods which, when properly configured, help you maintain accurate costs and costs of goods sold. One such costing method we will review today is Group Average Costing. Traditionally, Average Costing in NetSuite has been one average cost per location. However, NetSuite also offers Group Average Costing as a way to maintain a single average cost across multiple locations. How do we set this up? Read on to find out.
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Tags:
NetSuite,
ERP,
Project Management,
NetSuite Partner,
NetSuite How To's,
Accounting,
NetSuite Tips,
NetSuite Integrations,
NetSuite Administrator,
Customize,
Inventory Costing,
Netsuite ERP,
Pricing Groups,
Group Pricing,
Netsuite Updates,
NetSuite Features,
NetSuite Support,
COGS,
Costing
