What is ABC Inventory Analysis?
ABC inventory analysis is an inventory management technique that classifies inventory items based on their value to the business, using a ranking system that incorporates demand, cost and risk data. Inventory managers then group items into classes based on that criteria to help refine operational processes and ultimately help businesses more easily control working capital […]
What is Financial Modeling?
Financial modeling is a tool businesses use to determine likely financial outcomes based on historical performance as well as assumptions about future revenue, expenses and other variables. Financial modeling helps businesses guide financial planning and strategic decisions. What is Financial Modeling? – YouTube
Tips for Stabilizing Cash Flow
Stabilizing your cash flow is even more important these days. Some of the most common setbacks are late payments and long cash conversion cycles. Here’s how to proactively avoid them, and safeguard your company’s growth. Tips for Stabilizing Cash Flow – YouTube
What is Distribution Management?
Distribution management organizes everything needed to get the right product to the right buyer at the right time. It tracks the movement of goods from supplier to manufacturer to wholesaler or retailer and finally to the end consumer. Therefore, it includes processes and activities around raw good vendor management, packaging, warehousing, inventory, supply chain and […]
What is Order Fulfillment?
Order fulfillment is the process of receiving and processing goods for distribution to a customer based on that customer’s specifications. Order fulfillment takes place in distribution centers and usually includes inventory management, supply chain management, order processing, quality control and support, as well as exchanges or returns. What is Order Fulfillment? – YouTube
What is Inventory?
Inventory is the accounting of raw materials, items and component parts that a company uses to sell or produce goods. Inventory is an asset for most companies. However, too much inventory can become a practical liability. Thus, inventory management is used to strike the right balance between supply and demand in order to avoid dead […]
What is Supply Chain Management (SCM)?
Supply chain management (or SCM) encompasses all of the processes involved in acquiring and converting raw materials into finished goods as well as fulfillment and support. Effective supply chain management can prevent disruptions along the supply chain and help businesses meet demand in the most efficient way, ultimately delivering a positive customer experience. What is […]
What is Financial Management?
Financial management is the process of creating a budget that supports the long-term plans for a business and informs decisions on where and how to invest funds around things like hiring, paying suppliers, research and development and other important initiatives. Effective financial management helps a business operate more smoothly by boosting profitability, maintaining cash runway, […]
What is Customer Relationship Management (CRM)?
Customer relationship management, or CRM, technology helps create, store, automate and optimize customer and prospect data. A CRM system is a shared platform that enables sales, marketing and customer service teams to conduct business more effectively, providing visibility into the same information across each touchpoint of the customer journey. Ultimately, a CRM solution helps businesses […]
What is Material Requirements Planning?
Material requirements planning (MRP) is a standard supply planning system to help businesses understand inventory requirements while balancing supply and demand. Businesses use an MRP system to more efficiently track inventory, schedule production and ultimately deliver the right product, on time and at optimal cost. What is Material Requirements Planning? – YouTube
What is Planning and Forecasting?
Planning and forecasting is the process of analyzing historical and current data trends to help businesses make more informed decisions about future plans. In comparing past and present information, forecasting helps businesses make predictions around business performance and expenses. Those predictions are then used to set operational and strategic plans. What is Planning and Forecasting? […]
What is Cloud ERP?
Cloud enterprise resource planning, or cloud ERP, takes the critical business functions of ERP software—such as accounting, inventory and order management, human resources and customer relationship management—and allows users to access them over the internet. A cloud ERP system is a shared database that enables different groups within an organization to access the same data […]
What Is a Human Resources Management System (HRMS)?
A human resources management system (or HRMS) is a set of software applications that support and automate HR processes throughout the employee lifecycle, including: payroll, timecards, taxes, employee development, performance reviews, benefits, compliance and more. An HRMS allows companies to manage many people-related activities in one place, increasing efficiency and enabling business leaders to better […]
What is Human Capital Management (HCM)?
Human Capital Management, or HCM, is a set of practices and processes a business uses to acquire, develop and optimize its workforce. It plays an essential role in helping HR managers and executives make crucial decisions around workforce costs and future workforce needs as well as promotions, training and HR operations. HCM improves the business […]
What Is NetSuite’s Quality Management Solution?
NetSuite’s quality management solution(QMS) automates processes around things like inspection plans, tracking test results and evaluating vendors. The solution enables quality engineers to perform inspections, review standards, and record and submit data for analysis directly from the inspection area, providing real-time feedback and instant access to test results. It also triggers workflows around specification failures […]
Feel. Keeps Its Legion of Fans Happy with the Help of Cloud-Based ERP
When Feel. was founded in 2005, the futsal and soccerware market in Japan was full of dreary apparel that didn’t reflect the fun and dynamic sport. The brand injected much-needed colour and life into the industry and quickly gained a passionate customer base who fell in love with its bold and daring designs. Discover how […]
What Is NetSuite OneWorld?
NetSuite OneWorld delivers a real-time, unified global business management solution for enterprises that manage multinational and multi-subsidiary operations. NetSuite OneWorld helps businesses adjust for multiple currencies along with taxation and legal compliance differences at the local level. On the accounting side, NetSuite OneWorld consolidates regional and global operations into a unified view and deploys standard […]
What Is NetSuite Advanced Order Management?
NetSuite Advanced Order Management brings more efficiencies to NetSuite’s Order Management Solution by automating order allocation, orchestration and execution processes. This helps businesses intelligently fulfill orders based on global inventory availability and predefined business rules, ensuring orders move more seamlessly through the fulfillment process while providing businesses greater visibility and control over the supply chain. […]
How NetSuite Helps Agritech Startup Farmpal Empower Indian Farmers
Agritech startup, Farmpal, has designed a digital platform—powered by a user-friendly mobile app—that connects Indian farmers directly with business customers. With its sophisticated supply chain and inventory management system, Farmpal is striving to overcome India’s challenging agricultural problems through technology innovation. Discover how choosing Oracle NetSuite to integrate its financial and inventory data has helped […]
What Is an Order Management System (OMS)?
An order management system (OMS) centralizes and automates order processing (including capturing, tracking and fulfillment) from all sales channels and locations, and delivers inventory data that spans across warehouses, stores, third-party logistics and suppliers. An OMS allows merchants to efficiently and profitably manage all orders, lower operational costs and, ultimately, improve the customer experience. What […]
What Is NetSuite Demand Planning?
NetSuite Demand Planning helps businesses strike the most cost effective balance between supply and demand. It calculates and predicts inventory based on historical or demand sales forecasts, and thus, it helps businesses manage inventory more efficiently and with greater accuracy. As a part of NetSuite, the solution also simplifies supply management, automatically generating purchase orders, […]
Poolwerx Increases the Value of Its Franchisees With Oracle NetSuite
Poolwerx is the largest pool and spa maintenance company in the world. Over the past three decades, the business has revolutionised the pool service industry through its franchise-operated model and now operates in over 355 territories with 670 service vans and 160 retail stores across Australia, New Zealand and America. Founder and CEO John O’Brien […]
How NetSuite Helps Fuel BioPak’s Crucial Mission to Save the Planet
With a mission to develop the most sustainable packaging possible and help save our planet, BioPak uses plant-based materials to produce compostable, hygienic and affordable food packaging – making it a hit with hospitality businesses around Australia, New Zealand and now Europe. Growing rapidly since its start in 2006, BioPak needed an enterprise resource planning […]
Bailey Nelson Eyes Global Expansion With Better Visibility Into Operations
Founded in Sydney’s Bondi Beach in 2012, Bailey Nelson is a direct-to-consumer eyewear retailer. Its stylish and affordable frames combined with exceptional customer service proved a winning formula, and the brand now boasts 70 stores across Australia, New Zealand, Canada and the UK. As the business grew, Bailey Nelson faced challenges in managing global expansion, […]
On-Premises vs. Cloud-Based ERP Solutions
The biggest difference between cloud-based ERP and on-premises ERP solutions is how they’re deployed. Cloud-based software is hosted on the vendor’s servers and accessed through a web browser. On-premises software is installed locally, on company-owned computers and servers. The type of deployment model an organization chooses can have a significant impact on the business, including: […]