NetSuite for Food & Beverage

NetSuite has been a game-changer in Food & Beverage

The constantly expanding and evolving food and beverage industry requires specialized software that can handle the complexities of the supply chain and inventory management. NetSuite allows F&Bs to manage their inventory more effectively, streamline their purchasing processes, and track their sales performance. It also provides a comprehensive view of all aspects of the business, so you can make informed decisions about where to allocate resources and where to focus your efforts.

For retailers, the application provides a single system of record for all inventory across channels: physical stores, online sites, mobile devices, and points of sale. This helps them eliminate manual data entry errors while providing them with deep insights into their business performance at any time and from any device.

NetSuite for Food & Beverage Features

Some of the features that are specific to the food and beverage industry include:

Recipe costing and inventory valuation

This enables you to accurately track the cost of each recipe and the ingredients that go into it. This helps you maximize the value of the inventory and make sure that you are not overspending on ingredients. You can also assign a value to every item in your inventory, so you can make better decisions about what to sell and when to bring in new items.

Production planning and scheduling

This feature helps you schedule production runs for specific items, ensuring that you have the ingredients and resources necessary to complete the order. NetSuite also provides a powerful reporting system, allowing you to track production costs, plan ahead for upcoming orders, and quickly identify any potential issues. It also allows you to optimize the production process to meet demand.

Warehouse management

NetSuite helps you manage your warehouses more efficiently by providing real-time visibility into inventory levels and order fulfillment. You can set up different locations for different products, allowing you to quickly locate items when needed, and optimize your stock levels to ensure that you always have enough product in-house. It also helps you track shipments and spot any potential delays or issues before they become a problem. This allows you to manage your warehouse operations more efficiently, including receiving and shipping inventory, handling returns, and organizing your space.

Purchasing and invoicing

This feature allows you to streamline your purchasing process by creating purchase orders, tracking vendor invoices, and creating payments. It also enables you to quickly generate reports on purchasing trends and inventories, so you can make better decisions about where to buy your products from. This helps you get the products you need faster and keep track of your spending.

Sales order management

This feature enables you to monitor sales orders, generate invoices, and handle payments. Additionally, it offers valuable information on sales patterns and customer expenditure, giving you a clearer understanding of your customers' requirements and helping you customize your marketing approach accordingly. By utilizing this feature, you can keep track of your sales progress and guarantee timely payment for the products you vend.

CRM (Customer Relationship Management) & Marketing

Managing customer information in the food and beverage industry is a challenge due to the competitive nature of the business. However, with NetSuite's CRM and marketing features, you can consolidate all of your customers' information into one system. By doing this, you can improve your customer relationships and gain a better understanding of their individual preferences. You can even customize promotions and offers according to the needs of each customer. This approach allows you to offer top-notch service and meet the unique needs of your customers.

We helped a national bakery chain reconfigure component yield computation for assembly builds and added functionality for user input on the actual expected number of outputs in cases when creating a work order.

We implemented NetSuite for a national bakery chain (you can find most of their products as COSTCO and leading supermarkets), the assembly build uses component yield settings to automatically calculate quantity allowances for the expected loss of raw materials during processing. Because of this behavior, raw materials taken out of stock ended up being different between the system count and actual inventory. This client would always take the ingredients out as per the recipe and not adjust them because of shrinkage.

As a solution, we helped them re-configure their “component yield computation” for assembly builds and added the functionality for “user input” on the actual expected number of outputs in cases when creating a work order, wherein the system will automatically provide a default for the “actual quantity of cases” to create a work order. This allowed for the client to now adjust their work orders and ingredient withdrawals based on shrinkage and actual usage. As a result, they were able to better manage their inventory levels and reduce waste.

If the business challenge above sounds like yours, we would love to collaborate with you on a successful path forward. Give us a call; we would love to work with you!

We know the food & beverage space so well

Our team has years of experience implementing it for some of the biggest names in F&B. We understand the unique needs of this industry and can help you get the most out of NetSuite. We’ll work with you to create a customized system that meets the specific needs of your business, from order management to financials to CRM.

Our expertise in NetSuite Consulting will guarantee that you get the most out of your investment, and our team will be with you every step of the way to help you make the most of your new system.

Contact us today to learn more about how NetSuite can improve your business. We would be happy to discuss your specific needs and see how we can help.

For more info about NetSuite for Food and Beverage read the blog at: NetSuite for Food and Beverage

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