Mastering NetSuite with ONE Pac
Outsourced Manufacturing (a NetSuite 2020.1 release) is a revolutionsied solution for manufacturers who use a third-party contract manufacturing organization (CMO) with your contracted suppliers.
What are the business values from NetSuite’s Outsourced Manufacturing Enhancements?
- Increased Automation
- Reduced Manual Overhead
- Increases Visibility and Control of Outsourced Production
- Improves Accounting & Reporting for Outsourced Production
Can’t wait to see what’s NetSuite’s Outsourced Manufacturing is about?
Donald Austin, our NetSuite Expert of over 20 years in business process optimisation, will take your through this new NetSuite enhancements in this video.
Key functions to highlight
- Synchronizing procurement and production transactions of your parts and materials to be assembled directly on the NetSuite Cloud ERP platform.
- Integrate work order and assembly build process and the cost that your vendors incurred.
- Unified the service item, vendor purchase order, and item receipt to the work order and assembly build transaction.
NetSuite 2020.1 enables you to outsource your manufacturing efforts either from a purchase order or from a work order.
Outsource from a Purchase Order
After receiving an outsourced item on the PO, NetSuite builds the assembly for the outsourced work order. Assemblies ensure the manufacturing processes you define, such as expected completion time and anticipated waste, are clearly documented and accompany the PO to the subcontractor. Within the PO you can define the following outsourcing details:
- Outsourcing Location
- Production Start Date
- Production End Date
- Bill of Materials
- Bill of Materials Revision
Outsource from a Work Order
Immediate response to price with realtime visibility on Cost of Goods
With Outsourced Manufacturing, you will be able to understand a true cost of goods (COGS) is important for establishing your selling price. You will now have the overall cost including the components owned by the manufacturer, and the cost incurred at the subcontractor such as cost of labor, the assemble location expense and and potentially some components cost for the build all in one view.
No matter you are new to NetSuite or an existing NetSuite user for your manufacturing operations, you are also welcomed to schedule a demo of this latest release with our consultants at ONE Pacific. Simply drop us a line here and we will get back to you asap.