In a previous blog we explored how to create a Purchase Request using the Employee Center role. In this blog we’ll explore the differences between a Purchase Request and a Purchase Requisition.
As 2022 nears and the holiday season ramps up for consumerism, many distributors are still struggling to adjust to massive increases in shipping container costs. It’s no secret that this is a serious issue impacting the supply chain. Companies are working to keep their prices competitive but must also be mindful of their operating costs in order to protect their profit margins.
NetSuite has a great Purchase Request feature which can be leveraged to monitor and control the purchases within an organization. Many organizations find it difficult to control spending in certain key areas or lack a formal process to request new equipment.
For distributors across the world, the warehouse is the most critical component of the supply chain. Sometimes a warehouse is solely look at a place where storage is kept, but that storage is revenue. Having a way to efficiently and effectively move product in and out of your warehouse is key to ensuring your company is running at its max potential.
2020-2021 was a tough year for many companies as the COVID-19 Pandemic instilled a level of uncertainty in today’s business climate. But even then, we saw a large number of innovators push through and successfully IPO during a pandemic.
As a retail startup, you are always pivoting to meet changes in the marketplace, and having siloed systems to run your business just is not cutting it anymore. You need a solution that is flexible and adaptable enough to whether any storm (or pandemic as it were) and scalable so that your growth is no longer a limiting factor. You also need something that is robust enough to grow with you so that you do not find yourself in the same situation 5-10 years down the road.
If your back end systems and your ecommerce solution are siloed, and you’ve determined that your current business management system is holding you back then it’s time to make a change. What better time than now, when bulk of your business still comes from your ecommerce platform?
In 2019, online retail sales grew 56% - and that’s before the COVID-19 pandemic hit and everyone was ordered to stay at home. Despite lower overall spending in the United States due to COVID-19, many retailers who have invested in an ecommerce platform have seen their webstore sales increase by around 43% since the beginning of the pandemic.