
Automatically Connecting Inventory and Order data is key to Omnichannel Commerce Success
One of the most difficult, time consuming and complex tasks for a product-based business is to manage the supply chain. Handling all the products with the correct number of stocks in each store across different stores, cities, states or countries for a multinational business can be a challenging task. But with the advancement of technology, these difficulties can be overcome. For mastering supply chain in a product-based business, it requires an unbreakable linkage between forecasting the demand of products, planning the orders for various locations and perfect executions of all the deliveries to the customer. If this link can be successfully maintained, then it can help the business to reduce a number of last-minute costs that arise due to unattended arrangements. Oracle NetSuite is such an example of an excellence of technology that has been helping businesses eliminate such difficulties.
But the question is how? So, as we all know, the first and foremost step for bringing a product-based business into function is to plan and forecast the supply chain for a time span of 6-12 upcoming months.
- Can you know the estimated demand?NetSuite Planning and Budgeting module is based on such a concept that enables its users to estimate a forecast of the demand of goods using various dimensions such as historic orders, specific customer behaviour, supply channels and others. The forecast made by various departments of the organisation can be clubbed into one single master forecast that can be used to formulate a collaborated forecast.The forecasting that has been completed, now becomes the base for the supply chain. The business now puts its focus on making sure that all products are in the right place, in the right quantity and at the right time so that the demand of customers is met.

- How will forecasting demand help in Omnichannel Commerce Success?Once the demand forecasting is done, Oracle NetSuite’s supply planning engine comes into action. It breaks down the data and estimates the demand of each product for each month. This will help the company to determine the expected time, during which a particular warehouse/store in which location will run out of which inventory. This will help the inventory team to relocate the supplies in different locations or readjust purchase order keeping in mind the stockout dates.Not only this, the planning engine also has the ability to optimise the timing involved in the process of supply planning. It can calculate the time involved in purchasing of raw materials, manufacturing, packaging and transferring of stocks to various locations. This will help in calculating the ideal time for a store/location to place purchase orders.
- Smarter approach = Better customer experienceOracle NetSuite’s Advanced Order Management tool can be the ultimate approach for all your online/offline orders. This system provides the user to automatically choose the nearest facility from the final destination of delivery based on zip codes or distance. This will help in reducing the transportation cost from a farther facility. Not just this, the system also gives an option to decide the delivery range of a particular facility.Let’s say, if a facilities’ range is decided for 50 kms in the east only, then the deliveries in the north/south or west won’t be assigned to the facility.

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