NetSuite Industries: Retail Inventory Management

Balancing Omni-Channel Demands & Inventory Accuracy

The retail industry operates within increasingly complex omni-channel environments.

Navigating customer expectations for real-time inventory visibility and seamless fulfillment, retailers must ensure accurate inventory data across all sales channels. However, manual inventory practices can significantly hinder efficiency and customer satisfaction.

Implementing a solution that streamlines inventory management in NetSuite is essential for the efficient daily operations of companies in this sector.

Inefficient Paper-Based Inventory Practices

In an industry responsible for delivering products across multiple channels, having real-time visibility is non-negotiable. With the risk of lost sales, excess inventory costs, and disappointed customers, retailers often struggle with manual, time-consuming processes in attempts to maintain inventory accuracy.

Manual processes such as handwritten inventory counts and paper-based fulfillment introduce potential points of failure in the inventory management system. By implementing an automated inventory management solutions across all processes in NetSuite, retailers can eliminate these risks and improve operational efficiency.

Automate Your Processes

Checkbox Receiving
Inventory Control
Order Fulfillment
Replenishment
Return Management
Cross-Docking Operations
Shipping

Powering Retail Success

Implementing a warehouse management system (WMS) with built-in inventory management solutions like RF-SMART, retailers can gain:

NetSuite for retail - real-time inventory tracking

Real-time inventory tracking across all locations and all sales channels

Reduced inventory discrepancies through automated data collection

improved inventory visibility for retail on NetSuite

Improved inventory visibility - allowing retailers to make more informed purchasing decisions

Mobile data collection using handheld devices for real-time updates

Access to inventory data from anywhere in the warehouse or store

Seamless integration with NetSuite, ensuring all inventory data flows smoothly between your mobile device and ERP

Cycle counting abilities to maintain accurate inventory without disrupting operations

Reducing Inventory Shrinkage with Traceability

Maintaining Traceability of inventory movement is important to help retailers reduce inventory shrinkage. When the tracking of inventory movement is not available, the consequences can include:

Greater risk of stock outs caused by short shipments
Eroding of the bottom line due to employee theft and/or shoplifting

Tracking inventory every time it’s touched is a process that can be very time consuming. By implementing mobile inventory management, this process becomes easier, faster and more accurate - plus you gain an audit trail when errors are found. The results include improvement in inventory accuracy, decreases in inventory cost, and better customer service.

Reducing inventory shrinkage with barcode scanners and real-time inventory

Precise Retail Shipping with RF-SMART

Ensuring timely and accurate package delivery is a critical component for maintaining customer satisfaction within today's competitive retail landscape. Implementing an automated shipping solution that provides real-time data capture, accuracy, and traceability is essential for the daily operations of companies in this sector.

With RF-SMART Shipping, you can:

Quickly locate items, verify shipment contents, and document chain of custody, which is particularly valuable for high-value merchandise or products with regulatory requirements.
Reduce shipping errors and prevent inventory discrepancies
Provide customers with accurate delivery estimates and order status updates

Shipping dashboard and barcode scanner and printer

How RF-SMART’s Built-For-NetSuite Solution Helped Frescobol Carioca
Increase Accuracy and Operational Efficiency

“With RF-SMART, we know exactly the items that we put away, and they immediately become available for our retail and online sales.”

Challenges

Frescobol Carioca, a luxury men's resortwear brand with three UK retail locations and worldwide distribution, faced major challenges managing their inventory amid 96% projected growth. The company struggled with manual errors, poor stock visibility across locations, and difficulties managing product kits with multiple items of various sizes.

Solution

To address these challenges, Frescobol Carioca implemented RF-SMART for NetSuite, which provided comprehensive functionality for purchase orders, putaway, inventory returns, stock takes, and transfer orders between warehouse and retail locations. The solutions real-time integration with NetSuite gave Frescobol immediate visibility to all transactions and specialized features for kit management streamlined picking processes.

Results

By implementing RF-SMART for NetSuite,
Frescobol Carioca:

Achieved 99% picking accuracy

Increased speed in warehouse operations

Gained real time visibility into all stock locations

Enhanced customer satisfaction due to more accurate and timely order fulfillment

NetSuite Industries: Retail
Managing Inventory in the Retail Sector

Balancing Omni-Channel Demands & Inventory Accuracy