Wednesday, 18 May 2016 04:53

NetSuite optimises omnichannel fulfillment with intelligent order management

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NetSuite has announced the release of NetSuite Intelligent Order Management. The new capabilities unveiled today help meet rising customer expectations and streamline the constantly-evolving complexities of omnichannel order orchestration. Merchants get the intelligence and automation needed to help use inventory more efficiently, reduce shipping costs and improve the customer experience.

NetSuite Order Management is one of the most widely used cloud-based, order management solutions in the world, according to a company media release.. In 2015, merchants using NetSuite’s solution transacted more than 246 million orders, a 46% increase from 2014.

The total dollar order volume exceeded US$180.5 billion in 2015, a 32% increase from 2014. Merchants continue to adopt NetSuite’s order management solution at rapid pace, according to IDC1, for B2B and B2C channels – website, mobile, in store, phone, direct sales and system-to-system.

Built on this success and momentum, NetSuite, in this new release, adds intelligent omnichannel order allocation so merchants can automate how to best fulfill orders based on their inventory availability and the configurable business rules they establish inside NetSuite.

The functionality helps turn omnichannel shoppers into brand advocates with reduced stockouts, prompt delivery and a multitude of fulfillment options from wherever a merchant holds inventory. Merchants are better equipped to meet demand, increase inventory turns and reduce safety stocks, and are better able to scale their business while keeping labor costs flat.

NetSuite helps merchants efficiently manage fulfillment, eliminate manual work and manage only by exception. In addition, NetSuite’s cloud-based technology deploys quickly and allows merchants to iterate rapidly as their business evolves.

NetSuite’s new intelligent order capabilities facilitate the perfect order with the following functionality:

Order sourcing and allocation. NetSuite’s automatic location assignment allows vendors to optimize for reduced costs, faster delivery or a combination of factors to enable a fulfill-from-anywhere solution across all channels.

Release for fulfillment. Merchants get control over their release-for-fulfillment process with a second, automated process, which decides when to release orders and notifies each fulfillment location of which order to fulfill. Fulfillment managers get full visibility into the process – released orders, fulfillment status, and order exceptions.

Exception management. Merchants can automatically handle most order exceptions so the business scales with fixed headcount. NetSuite attempts to fulfill exception orders then informs the CSR or fulfillment manager of an unfilled order. Exceptions caused by inventory discrepancies are automatically flagged for resolution.

Store pickup. Merchants control which locations and items participate in the pickup process. NetSuite updates sales orders for store pickups and mixed orders. Once received, fulfillment requests are automatically generated, notifying a store of the order. When inventory is selected, the system notifies the customer their order is ready.

Ship from store. Merchants can save the sale by fulfilling from stores to meet customer demand, increase inventory turns and reduce markdowns. Merchants control which locations and items participate in the shipping process, while managing store capacity and inventory buffering to balance in-store and ecommerce fulfillment.

Order management insight and KPIs. Merchants empower operations managers to measure their attainment of the perfect order with insight and intelligence, from promising and allocation, to orchestration and fulfillment, through to payments and returns.

David M. Williams is attending SuiteWorld 2016 as a guest of NetSuite

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David M Williams

David has been computing since 1984 where he instantly gravitated to the family Commodore 64. He completed a Bachelor of Computer Science degree from 1990 to 1992, commencing full-time employment as a systems analyst at the end of that year. David subsequently worked as a UNIX Systems Manager, Asia-Pacific technical specialist for an international software company, Business Analyst, IT Manager, and other roles. David has been the Chief Information Officer for national public companies since 2007, delivering IT knowledge and business acumen, seeking to transform the industries within which he works. David is also involved in the user group community, the Australian Computer Society technical advisory boards, and education.

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