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NetSuite 2022.1 Manufacturing has prepared a niche strategy package for production businesses that give them an edge over their competition. Read about the NetSuite 2022.1 Release updates below!

Signature Release Features for Customers in the Manufacturing Environment  

Zoning in the manufacturing industry highlights some of the problems managers face that put them in great competition with suppliers, retailers, and distributors. NetSuite took notice of these problems as well and has prepared a custom release package, NetSuite 2022.1 Manufacturing, that will equip manufacturers with the tools and insights, they need to address the challenges.   

With the current workflows, manufacturers are finding it difficult to compete with issues of oversupply of materials, undersupply of workers, also, inflation affecting the price of raw materials. Despite the challenges, manufacturers are determined to find out how they can improve production predictions, increase productivity through automating more, and lessening any inventory left in stock rooms.    

To make this work, NetSuite 2022 Release 1 (NetSuite 2022.1) is set to overcome the challenges for customers with advanced features that will improve their overall competitive performance.

Get a complete scope of the 2022 NetSuite Release updates by downloading the notes below, and see what is in store for your business’ growth.

DOWNLOAD THE COMPLETE NETSUITE 2022.1 RELEASE NOTES

This blog explores the updates from 6 NetSuite modules for NetSuite 2022.1 Manufacturing:

  • Supply Chain Release Features: Improved Inventory Management

  • Warehousing Release Features: Supports Better Flow for Pick Paths & Packing Strategy

  • Cash Position Release Features: Cash 360 Software Functionality for Financial Decision Making

  • Inventory Release Features: Inspection Upgrades for Better Quality Management

  • Analytics Release Features: More Data to Make Informed Decisions

  • Integration Release Features: Combine External and Internal Interfaces in One Environment

Supply Chain Release Features: Improved Inventory Management

New Filters in the Supply Planning Workbench Software Release Enhances Production Planning 

Currently, the Supply Planning Workbench is being used to display supply and demand orders and access details on finished good components. This helps manufacturing companies with the availability of resources and the ability to have modifications. The operations team access these details and improve production planning since the parts and materials can be checked and verified to ensure they are ready for delivery based on the date set. Adjustments can also be made at any stage based on any changes in the demand. This customization will especially help customers in the food and beverage industries, as the features of the release increase the efficiency of business processes when dealing with suppliers.   

Taking it to another level, the improved Supply Planning Workbench in NetSuite 2022.1 (NetSuite 2022 Release 1) will provide customers with more insights for faster business processes and more informed decisions. When selecting items in the application, managers can now apply filters that only show related information to the role they direct. This filtered information would also provide more relevant descriptions of the item, vendors, and information regarding any oversupply that may exist.   

NetSuite 2022.1 Manufacturing
  • Customizations Now Project the Status of Suppliers for Increased Efficiency in Business Processes 

Mitigating the occurrences of under and oversupply is another challenge that the 2022 NetSuite Release 1 has taken on. With a new modification to the Vendor Performance Scores, manufacturers will get more data insights on the best possible timeline of the orders for certain supplies. NetSuite uses past data to create smart insights on the performance of each vendor matched with a ‘Confidence’ rating on a scale of 1 to 100 for each ‘reliability projection’.  The benefits of new release having smarter insights include better planning, purchasing, and negotiating when it comes to vendors.   

  • Resource Allocation for Manufacturers with Limited Inventory   

Operation managers can better determine how best to split up their available supplies using the new prioritizing functionality in 2022 NetSuite Release 1. The key is to allocate inventory based on what is best for the business. The new solution allows production planners to do more with the ‘Allocated Demand’ feature; specifically, they can allocate their supplies to relevant orders (customer, work, or transfer) based on the new customization. For available supplies, they can be better allocated by prioritizing either profitability, critical customers, or sales channels.   

  • New Supply Chain Management (SCM) App Functionality to Validate and Control Inventory Quantities  

Supply quantities can now be easily validated and controlled for production runs using the new application updates in NetSuite Manufacturing and Supply Chain Management (SCM) apps. For the manufacturing application, the designs have been made simpler and provide a more intuitive user interface. With this update, production managers can validate the quantities needed for production runs. The app also has an ‘Enable / Disable’ feature to aid in controlling over-production. If there are any extra supplies, the inventory levels can be controlled by this new app feature. 

Warehousing Release Features: Supports Better Flow for Pick Paths & Packing Strategy

  • Solution to Reduce the Duplication of Pick Paths from New WMS App Features  

The updates to the Warehouse Management System (WMS) app offer better zone picking, tally scanning, and searching capabilities. For zone picking, the app updates increase the speed at which the product is found in the warehouse by accommodating both single and multi-order picks. These reduce the time in movement it takes workers to search for and scan items. This especially benefits workers who use different methods of picking to reduce any repetitions or duplications of pick paths and have a better flow with zone picking.    

Warehouse workers will be able to simultaneously scan and count items for put-aways, cycle counting, and inventory transfers with the ‘Tally Scanning’ update. With this update, they no longer need to manually enter numbers for each item, since there is more accuracy in tallying. In addition, when finding the ‘picking status’, managers have an improved searching experience since they can now choose more waves to be released at one time. This customization also saves time when searching for, and printing labels which are all done on the mobile app. 

  • Packing Solutions to Save Time on Business Processes 

There are updates made to the NetSuite Pack Station app to increase packing speed by addressing the numbers, instructions, and units. For the numbers, the packing and unpacking of “ship as is” items will be able to be done in bulk instead of individually. The instructions for packing each item will now be shown before packing starts. This helps production planners to have better control and processing times. NetSuite 2022 release 1 update also includes a built-in unit conversion tool for weighing each package in either pounds or kilograms as required. 

Cash Position Release Features: Cash 360 Software Functionality for Business Decision Making 

  • Functionality for Better Financial Decision Making & Business Processes in the Cash 360 Environment   

NetSuite 2022 Release 1 has launched the Cash 360 app, an all-in-one financial management dashboard. It shows the company’s cash position as required, either in weekly insights or predictions for 6 months, all mapped on clear graphs/charts. Manufacturing financial managers use this tool for strategic planning, workflow accuracy, and auditing current inventory for improvements or savings. The app has an ‘Event’ feature that allows managers to add any large purchases, investments, or loans that the company decides to take. Each event is easily accessible, and the data can be analyzed to make smart financial decisions to further improve the cash position.

  • Customization for Intercompany Transactions in Cash 360 Software 

Bills and credits can now be tagged by companies that do not have a full workflow on the new NetSuite App update. This makes it easy for accountants to match invoices for intercompany transactions. The foundation for this update was the ‘Intercompany Netting’ feature in 2021 Release 2 which reduced the human input and potential errors for subsidiary-related transactions. NetSuite further enhances the view of the intercompany account balances.   

Inventory Release Features: Inspection Upgrades for Better Quality Management

  • Inspection Messages in NetSuite Quality Management App   

To ensure manufacturers maintain the best quality throughout the production process, the new release now supports on-demand inspections in the NetSuite Quality Management app. These can be set up for certain times or as necessary in addition to the standard set schedule. Triggers are also built-in to send alert messages to workers of any failed inspections and repairs that need to be reinspected. 

  • Full Screen Customization of Tracked Lots 

Reports for operation processes also get updated on the app, now with a full display of all the ‘Tracked Lots’ for both forward and backward tracing on screen. Operations managers can also modify the parameters for the report based on the transaction or the item to help with inventory management.

NetSuite 2022.1 Manufacturing
  • Save Time Assigning Inventory Numbers to Order Phase and at Fulfillment 

Fulfillment numbers will be better and more easily assigned with the new release. Specifically, for ‘First Expired, First Out’ (FEFO) fulfillment that helps to reduce under-utilized inventory, the numbers are more simply assigned to items that need them. The update also reduces the steps for FEFO, since it can be used at both assigning inventory to order phase and now at fulfillment.   

Analytics Release Features: More Data to Make Informed Decisions 

  • Using Past Data for Smart Future Predictions  

The 2022 release updates the NetSuite Analytics Warehouse app to help manufacturers devise more tactical and strategic decisions to meet the demands of the industry. From maintaining low costs to satisfying customers, NetSuite provides the data and analytic tools to help to make better decisions. The release offers an overall 50% increase in analytical capabilities with the 18 new transaction types that are already developed and ready for use, as well as new dashboards. The two existing dashboards are the foundation of this new solution, along with 6 new dashboards for business insights. NetSuite Analytics Warehouse also offers ‘Point-in-Time Analysis’ from reports created from past data sets for inventory, work orders, and expense reports.

  • Analyze Multiple Datasets Without User Restrictions 

To improve business performance, the SuiteAnalytics app has updated the user interface, now there are more allowances and multiple datasets all on a single platform. The newly designed interface accommodates a drag and drop feature for needed links and users can also link multiple datasets of custom records. The permission boundaries for analyzing multiple data sets have been removed; now no coding in SuiteScript API nor developer resources are required first. Less time and resources are spent on analysis with this new feature. Now managers can better measure the business performance for the budget, forecast, or planned data to the actual more efficiently.  

NetSuite 2022.1 Manufacturing

Integration Release Features: Combine External and Internal Interfaces in One Environment 

  • Customers Monitor All Business Integrations in the NetSuite Connector App 

The NetSuite Connector app has been updated to monitor both external and internal applications in one place. Eliminating the need for manufacturers to use external applications separately. Better monitoring helps with visibility, tracking, and auditing. 

Find out More on NetSuite 2022 Release 1

There’s a lot more to discover with NetSuite’s new release and the advantage it offers to manufacturers to make ambitious moves and overcome challenges with the supply chain and purchasing decisions.    

Keep an eye out for the live updates in the production Account to get a chance to test before changes are made to the LIVE account.   

Let ERP Buddies handle all the tech support needed to test these updates in your Sandbox Account. This way there is no interference with your existing workflows. Click Here to touch base with a consultant.   

Get Acquainted with NetSuite 2022.1 Release updates for all industries here:

Download NetSuite 2022.1 Release notes here:

NetSuite 2022.1 Release Notes

Partner to Profit with ERP Buddies Inc.:   

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With operations in the U.S, Canada, Europe, India, and the Philippines, our Expert Team is accessible globally and makes it their priority to create a smooth and positive experience for clients. Our experts assist clients throughout the entire implementation process, with on-site support and consultation, along with additional assistance in customizing your system to guarantee it meets your business needs.   

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