Wednesday, April 27, 2016

Demand Planning

“Hey John, what do we need to order this month?”

Does this sound familiar?  John says, “I don’t know, let me go back and count the orders we had last month, let me see where that would be…?”   The question is how long will it take John to come up with a projection for this month’s Purchases or Work Orders?  Maybe a day or two, this is a mystery to most companies.

Medium size businesses have always had difficulties in planning for customer demand; they usually have to rely on multiple spreadsheets, which can cause all kinds of issues in keeping data updated, and constantly having to re checking the accuracy of the formulas.   Also, most companies do not have the resources or knowledge to analyze, develop formulas, and create data streams that is best for their business and industry.  NetSuite Demand Planning module helps businesses plan and forecast for product demand.
Source – screen sample:  NetSuite Demand Planning data sheet.

NetSuite’s Demand Planning Module helps solve these challenges by leveraging the integrated functions of NetSuite ERP.   You can use forecasts based off opportunities that is tracked within CRM and you can make demand projections based on historical data and trends from Inventory.These projections methods include: Linear Regression, Moving Average, Seasonal Average, and Sales Forecast.  This forward looking capacity gives you the ability to select your time frame and incorporate the fluctuations in inventory that your company experiences.   Also, theses quantity requirements are driven from customer demand, which individual components can be driven from your items within bill of materials that make up your product.  These demands of product create a supply plan that leverages your preferred suppliers on the appropriate date to have inventoried items or components delivered.   

Source – screen sample:  NetSuite Demand Planning data sheet.

If your company is in distribution or manufacturing, and you are constantly struggling with ways to streamline your projected inventory or work orders, you should investigate NetSuite Demand Planning Module (added subscription).   

Imagine a tool that gives you projections based on your past inventory consumption, sales forecasts (from opportunities), and tracks the ever growing demand for your products.  Imagine a tool to simplify purchasing or manufacturing to stock requirements and create plans you can use based off your purchase/sales data with only a few clicks.   I know John in purchasing would like it.

Resources to learn about NetSuite Demand Planning:

Contact TrueCloud - Demand Planning Demo  to schedule a webcast or live demonstration.

Wednesday, June 10, 2015

How To Set Up Opportunity Workflows In NetSuite

In this tutorial, you will learn how to set up, define, and create workflow states when a user creates a new Opportunity record within your NetSuite system. 

The workflow feature of NetSuite helps automate the opportunity process in NetSuite so when a new opportunity record is created, the sales rep responsible for the contact can view the opportunity on the list page after it has been created.

You will be guided through the entire workflow process set up, which is:
  • Defining Basic Workflow Information
  • Defining The Workflow Initiation
  • Defining The Workflow Condition
  • Create More Workflow States
  • Creating Actions For Workflow States
  • Creating Workflow Transition
  • Initiate & Validate The Workflow

Click the video to watch the step-by-step instructions.


Tuesday, June 2, 2015

How To Set Up 1099-MISC Forms In NetSuite

In order for an amount to show up in the appropriate box on the 1099-Misc form, the transaction must be cash basis and it must be tied to an expense account for that category.

A paid vendor bill must have an expense account selected that is associated to a 1099-Misc Category.

Watch the following video.

Stay tuned for more NetSuite Tips and Tricks,


Thursday, May 28, 2015

How To Log Expenses Through NetSuites Mobile App

With NetSuite’s free mobile application functionality, you have the ability to log expenses while you’re on the road traveling.

In this particular demonstration, you will discover how an employee can upload a receipt, log it based on select criteria, and continue on with your daily activities. This method gives you the ability to log all expenses, keep track of all of your information and submit them together in one singular expense report at the end of your trip.

Watch the quick tutorial for a step-by-step demonstration of how to enter an expense from NetSuite’s mobile application.

Wednesday, May 6, 2015

How To Delete A Bank Reconciliation In NetSuite

If you discover that a bank statement or credit card statement contains an error after reconciling it, you can delete the reconciliation and enter a new one.

Watch the step-by-step tutorial on how to delete a statement reconciliation.

Stay tuned for more NetSuite Tips and Tricks,


Wednesday, April 29, 2015

How To Create Vendor Prepayments In NetSuite

To create a vendor prepayment in NetSuite, there is a 3-step process.
1. Create a holding account. The holding account tracks the funds until they are applied to a vendor bill.
2. Write a check. The check moves funds into the holding account and out of the checking out. Then, the funds are not available in the checking account for other payments.
3. Enter a vendor credit. The vendor credit is used to apply the funds to the vendor bill when the bill is entered.

Writing the check and entering the vendor credit enables the following:
· Gives you the ability to pay the vendor in advance.
· Washes your holding account so the resulting balance is zero.
· Lists an outstanding vendor credit on the vendor's account.

Once you receive the bill from the vendor, you can apply this credit to it.

The video tutorial will provide you show you how to create a holding account, write a check, and enter a vendor credit. 

Click the video to learn how.

Stay tuned for more NetSuite Tips and Tricks,