NetSuite rolls out inventory solution

Business solutions provider NetSuite announced a new inventory counting solution as well as improvements to its Analytics Warehouse.

NetSuite Smart Count allows for automated inventory counts, which can even be conducted live without having to freeze transactions. If activity does happen during a count, then the software will alert the counter, who can then take appropriate actions. The embedded NetSuite product, which integrates with its existing Inventory Management solution, sports the following additional features:

• It allows administrators to choose what happens if the on-hand quantity changes for an item during the count process.
• It provides lists of items that need to be counted using predefined criteria, rules and key drivers.
• It automatically triggers recounts to check the accuracy of a given bin if the inventory levels fall below a reorder point.
• It gives visibility into all items due to be counted in a location.
• It allows the use of mobile device-readable barcodes.

“Inventory counts are an important check-and-balance that ensure records are accurate, but without the right tools in place, they are often expensive, labor-intensive and time-consuming to conduct,” said Gary Wiessinger, Oracle NetSuite's senior vice president of product management, in a statement. “With NetSuite Smart Count, we are automating the entire process for our customers so that they can quickly and easily validate inventory records to help ensure inventory availability, optimize inventory levels, and return to doing what they love — running their business.”
NetSuite also announced improvements to its already-existing NetSuite Analytics Data Warehouse. New features for the product include:

• Users can now select the custom data to flow from NetSuite into the data warehouse on the next scheduled refresh, and its placement in a subject area data snapshot — such as finance, purchasing, inventory, sales and more — without needing to code.
• Users can now export content from one NetSuite Analytics Warehouse instance to another. For example, someone can create a Workbook and dashboard in a sandbox account and then use Bundles to export it into a production account.
• Users can now access an expanded list of pre-built subject matter data snapshots and key metrics for role-specific business insights. This includes a financials snapshot of revenue commitment, revenue commitment reversal and revenue arrangement; a sales snapshot of opportunity and commission; an inventory snapshot of cost reevaluation, bin transfer and bin put away; and a retail inventory snapshot of gross margins, spend and financials.
• Services customers can now access a new subscription-centric project management module to optimize revenue management.

“Despite having more data available, many business leaders feel that decision making is harder than ever,” said Wiessinger in a statement. “By harnessing the machine learning-powered analytical capabilities of Oracle Analytics Cloud and the highly automated Oracle Autonomous Database for analytics and data warehousing, the enhanced NetSuite Analytics Warehouse provides organizations with relevant and reliable data.”