Unlock the Full Potential of NetSuite Order Management Modules
Coordination across a variety of stakeholders is necessary for order management, including shipping and logistics partners, order fulfilment, CRM, ERP, and warehouse employees and managers. Handling orders can be difficult for huge businesses with a lot of inventory and customers. Challenges to order management involve cost control, human error, and inaccurate inventory.In the current corporate environment, the quality of order fulfilment is essential. It stands out your firm, engages repeat business, and strengthens your brand. Utilizing NetSuite Order Management gives businesses the ability to effectively satisfy growing customer demands while also increasing profitability.
What is Order Management?
The procedure of monitoring, completing, and receiving, the orders from customers is understood as order management. Order management begins the moment an order is placed and ends when the customer receives their package. As your business expands, automating and optimizing the revenue recognition procedures is essential. If not, you will eventually be unable to handle the volume of orders.Understanding NetSuite Order Management
Order life cycle management and automation are provided by NetSuite Order Management. This includes managing orders from the time a customer places one through delivery and post-sale support. It provides proper recordkeeping by including order release, order capture and validation, shipment approval, communication with customers, and settlement. Complex procedures like drop shipping and split shipments are also supported by NetSuite Order Management.NetSuite Order Management guarantees that orders are processed promptly and effectively by monitoring and controlling the information flow between all of your fulfilment centers and suppliers. If there are fulfilment issues, you can minimize delays and fix them fast.
Benefits of Oracle NetSuite Order Management Module
Let’s explore the benefits that the NetSuite Order Management module may offer for your business’s operations. Automated Data FlowWith NetSuite OM, you can integrate the teams in charge of sales, finance, and operations to boost revenue recognition processes, eliminate billing errors, accelerate and enhance order fulfilment, and enhance cash flow. The vital component of your business is the process of receiving, reviewing, scheduling, adhering to, and billing orders. With NetSuite’s vast range of order management features, you can automate a lot of the steps in the process and obtain excellent process visibility. As a result, you can exceed your clients’ expectations by fulfilling and delivering the order from the location or cost-effective location.
Effective Fulfilment of Orders
With NetSuite Order Management, you can integrate, maintain, and make changes to your order management procedures more rapidly and affordably. This module provides your team with the inventory visibility and order orchestration capabilities they require to manage orders and inventory more profitably. Using store stocks, your business can speedily supply products to clients by fulfilling orders from any location.
Streamlined Organizational Processes
The NetSuite Order Management’s subscription-related automated processes save your team time by automating repetitive tasks. Custom grid print templates are another feature of the module that enables you to handle credits for each of your fulfilment channels and accept exchanges and returns for the goods sold by your business.
Your employees can provide exceptional customer support at each point of contact with the help of NetSuite Order Management’s multi-channel solutions. This makes it possible for your business to provide reliable, seamless cross-channel interactions to all of your clients. Billing management features combine all necessary procedures onto one platform. Furthermore, the NetSuite Business Intelligence module enables the analysis of all registered returns, giving you the ability to make strategic decisions regarding process optimization and human handling.
Reliable Integrity of Data
Using the NetSuite Order Management system simplifies and makes easier for NetSuite clients to identify issues as they develop in real-time because the entire process can be observed from above rather than in discrete steps. Making decisions based on data will ultimately save your money as time passes. When order volume is large, addressing even the smallest inefficiencies can lead to supply chain optimizations and have a big impact on your bottom line.
Reduced Possibility of Errors
Problems happen when working with this volume of orders and processing them at this degree of complexity; billing problems in particular are unavoidable. The online reputation of an up-and-coming eCommerce business could be damaged by misrepresented goods, delayed deliveries, incomplete invoices, and inaccurate addresses. This indicates that an efficient order management system is required to be in place. With NetSuite, all of your order information is housed in a single system. You may monitor your clients from the first marketing interaction through the order, billing, delivery, and support stages.
You get complete insight into all pre-sale activities with the integrated NetSuite CRM. Order data from all sales channels is gathered by the system, which then prompts your warehouse staff to choose, package, and ship the item. Regardless of the type of business, the automatic information flow eliminates the possibility of manual error in fulfilment or billing, leading to more productive staff and satisfied customers.
The NetSuite Order Management Process
The NetSuite order management procedure is very similar to a traditional procedure used by other software. The distinction is that NetSuite uses its integrated CRM software to enhance the order management cycle.Order placement:
Client’s place orders at different times and from different locations via all available channels.
To make this process easier on the backend, NetSuite works as an omnichannel fulfilment or multichannel order management solution. It can immediately import the relevant data from your e-commerce business into its own records.
Order was acquired:
After the order is placed, the fulfilment center receives the information and begins processing it.
In the event that you operate on Amazon, your item is processed in one of their many FBA warehouses. Alternatively, if you run a fulfilment center, that’s where the order is handled. In any case, NetSuite will take care of the recording and processing for you.
Order selection:
In general, selection refers to choosing an item and bringing it to a packing station from the available inventory in accordance with a picking list. The inventory’s organizational structure determines how long each order takes to complete, which is where warehouse management comes in place.
Order Packaging:
Once the order arrives at the packing area, it is packaged in such a way that the dimensional weight is reduced while still providing adequate protection. Some organizations, like as Amazon, have highly tight packing guidelines that all merchants must follow.
If you specify the needed measurements that are important, NetSuite will include them and take notes of them before forwarding the item to packaging.
The shipment:
After being wrapped, the item is dispatched to the buyer. Every order has a tracking number, which is quickly sent to the customer so they may keep track of the order’s progress at each step.
Upon arrival:
Customers receive their ordered item at this point. Almost no mistakes were made during the entire process because of NetSuite’s powerful order management feature.
NetSuite Advanced Order Management
NetSuite Advanced Order Management is a feature set or module that facilitates and eases order fulfilment and location allocation. You can stop worrying about backorders by turning off AOM capabilities, which eliminates the need for you to continuously check inventory levels at every warehouse and retail location.After installation, the module will determine which location is closest to or most appropriate for your customer and display it on your order lines, ensuring that each order can be filled quickly. The module adds new transactions like “The fulfilment Inquiry” and “Store Pickup Fulfilments” that provide further information into the purchase process in addition to removing NetSuite’s basic shipping transaction.
Modules that enhance NetSuite Order Management
NetSuite OM would not be as effective until other modules and functions collaborated to provide the best results possible.CRM NetSuite
A 360-degree view of your customers in real-time is only possible with the cloud-based NetSuite Customer Relationship Management (CRM) software. Along with traditional CRM functions like SFA, customer support, and marketing automation, NetSuite CRM also includes integrated eCommerce capabilities, commissions, order management, sales forecasting, and quotes. NetSuite CRM provides a seamless information flow throughout the whole customer lifecycle, from lead to opportunity, sales order, fulfilment, renewal, upsell, cross-sell, and support.
Inventory Management with NetSuite
With NetSuite Inventory Management, that offers a single, real-time view of inventory and assembly products across all locations and sales channels, businesses may lower their inventory on hand to save up cash while preventing errors.
Optimizing inventory levels and ensuring product availability across many channels, NetSuite Inventory Management helps businesses meet customer expectations while keeping inventory expenses low.
It offers real-time products visibility across all locations—warehouses, retail storefronts, pop-up shops, drop shippers, and third-party logistics providers—where you manage or stock inventories. By removing manual bottlenecks, guaranteeing fulfilment accuracy, and promptly processing sales orders, it helps optimize your company’s operations.
Difficulties Solved with NetSuite Order Management
- Shortages in stocks:
Orders and inventory data should be integrated seamlessly to guarantee that inventory is assigned to orders at the time of placement and to prevent stockouts. - Returns stock in inventory:
Make sure that returns are appropriately handled and that saleable items quickly return to available-to-purchase (ATP) inventory. - Inaccurate or delayed shipments:
Automate the fulfilment process to get rid of expensive mistakes that come with manual methods. - Excessive Shipping Charges:
Orders will be fulfilled automatically based on the location and availability of global inventory.
