NetSuite Demand Planning Module

Efficiency

What is NetSuite Demand Planning?

NetSuite Demand Planning helps businesses predict future inventory needs based on historical demand, seasonality, open opportunities, sales forecasts, and other metrics.

By pinpointing when to reorder items, and in what quantities, you optimize stock levels and enhance supply chain planning.

Abstract illustration of an accounts manager working within an ERP system to streamline accounting workflows through automation and task clarity.

Why NetSuite Demand Planning?

In today’s business climate, understanding your company’s future inventory needs is more important than ever. With the right demand planning tools, businesses can avoid stockouts and maximize sales opportunities while improving customer satisfaction. This can help reduce overall inventory costs by ensuring that only the amount of inventory needed is purchased and stored.

Improve Forecast Accuracy

The NetSuite Demand Planning module includes tools for using historical data and sales forecast information to predict future demand for inventory, planning accordingly, and incorporating preferred stock levels.

The plans this generates are calculated on a per-location basis to take into account projected demand in a given area.

Demand can be evaluated and presented in a number of different ways with:

Linear Regression – Using previous demand to project future inventory based on the least-square regression method.
Moving Average – Use the moving average of historical demand to calculate the overall average stock level needed and then project future stock levels using that overall average.
Seasonal Average – Using previous demand to examine the seasonal trend of inventory flow and then project a similar seasonal trend for future stock levels.
Sales Forecast – This option uses forward-looking sales forecast data such as opportunities and estimates to project inventory demand.

Efficiently Manage Cash Flow

The NetSuite Demand Planning Module includes inventory planning tools that help you optimize inventory levels and increase turns.

It includes order consolidation capabilities to reduce costs and simplify the ordering process. The module also provides workflow approval capabilities for more effective management of complex processes.

Key Features of NetSuite Demand Planning

NetSuite Demand Planning provides powerful tools that help companies efficiently manage their inventory and supply chain operations. The module simplifies forecasting, inventory management across multiple locations, and item setup, allowing businesses to plan for demand and optimize resources.

Forecasting

NetSuite Demand Planning helps companies plan for orders and manage the supply chain.

The module’s menu structure shows the process for calculating demand, reviewing demand plans and revising where required; generating supply plans, reviewing and editing plans; and finally generating purchase, transfer, and work orders.

Multi-Location Inventory

NetSuite Demand Planning Module lets you define multiple inventory locations with real-time visibility. Locations can be organized hierarchically, and global businesses can define relevant countries. With this module, during the planning process, the system can be set up to automatically create transfer orders between locations as necessary.

Item Setup

In NetSuite Demand Planning, you can define the parameters that affect each item. Some of these parameters may include availability to demand planning, alternate sources of supply if an item’s vendor is unavailable, and distribution network and category assignments. For example, a manufacturer might use DRP (distribution resource planning) functionality to transfer inventory between facilities, but might also set additional planning parameters that affect either how demand is evaluated or how planned orders are generated.

Curious How Much NetSuite Demand Planning Costs?

ScaleNorth is an official NetSuite partner and implementer of NetSuite’s Demand Planning Module. Discover more about NetSuite Demand Planning and why it’s the best fit for your business. Get a free consultation today!

Ready to make the leap to NetSuite?

ScaleNorth will implement, optimize, and customize NetSuite Demand Planning to fit your business needs. Utilize this powerful cloud based system to its fullest potential and leverage it to grow your company!

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Unified Solution to Drive Inventory & Manufacturing Success