The Role of a NetSuite ERP System in Modernizing F&B Manufacturing Processes

You can make a lot of money in the food and beverage sector if you have the right software to help navigate the industry's pitfalls.

Optimizing Supply Chain Management

The supply chain can be the bane of a manufacturing company’s existence, particularly for businesses in the F&B industry that must deal with a climate run amok. Weather-related events not only cause distribution issues but also limit the supplies themselves. For example, one-third of the world’s corn is currently located in water-stressed regions.

In recent years, grain supplies have also lagged because water levels were too low for transport barges, hydropower has suffered from drought, and extreme heat has put outdoor laborers at risk. As the climate grows warmer, F&B manufacturers will have to deal with even more supply chain disruptions. Companies must invest in effective supply chain management technology before the issues worsen. In fact, Rockwell Automation says supply chain planning is the top reason F&B companies turn to smart manufacturing.

A NetSuite ERP system helps manufacturers prepare for supply chain issues with a unified platform that integrates all supply chain aspects, from procurement and production to distribution and sales. This integration ensures seamless coordination between different departments and external partners so they can better handle supply shortages and find new sources quickly.

The system also allows F&B manufacturers to forecast demand more accurately, plan production schedules effectively, and optimize logistics operations. A holistic approach to supply chain management minimizes delays, reduces costs, and improves customer satisfaction by ensuring timely product delivery.

Schedule your free consultation with the SuiteDynamics team to learn more about NetSuite’s supply chain management capabilities and how they can help your company weather the inevitable disruptions that will limit your resources.

Streamlining Production with Real-Time Data

One of NetSuite’s best features is its ability to provide real-time data throughout the manufacturing process. It allows F&B manufacturers to monitor production lines, track inventory levels, and manage resources efficiently. This instant access to accurate data empowers manufacturers to make decisions quickly, reducing downtime and improving overall productivity.

For example, the system’s real-time inventory management feature allows manufacturers to monitor stock levels so they can minimize shortages and excess inventory. This capability is crucial for F&B companies, especially those selling perishable goods that must ensure product freshness.

In an article for Tech Times, Carl Williams writes that these insights are quickly becoming an industry staple.

“By integrating big data analytics into every facet of the business, F&B companies can not only anticipate market changes but also shape them,” he says. “The advent of advanced analytics, AI, and machine learning technologies promises even better insights and more innovative applications.”

Your business must take advantage of cutting-edge technology and analytics to keep up. Schedule your free consultation to discover what insights NetSuite can provide and how they can shape your company’s operations.

Enhancing Quality Control and Compliance

In the F&B sector, companies must prioritize quality control and regulatory compliance. Otherwise, they may violate the law, pose a risk to public safety, and lose significant business.

NetSuite ERP systems automate compliance processes and keep detailed records, helping users adhere to strict quality standards and regulatory requirements. The system's traceability features also allow manufacturers to track ingredients and finished products throughout the supply chain, ensuring transparency and accountability.

Additionally, NetSuite’s integrated quality management module facilitates regular inspections and testing so products meet required standards before reaching consumers, enhancing product quality and reducing the risk of costly recalls.

Facilitating Innovation and Scalability

Innovation is key to staying ahead in the F&B market. The industry is so competitive that companies must constantly search for ways to improve their products and operations—or else they’ll lose business to more creative competition. According to a 2018 report from Green, Hasson, & Janks, 94% of F&B survey respondents said their businesses invested in innovation, and 50% said they did so at customers’ requests.

One of the best ways to innovate is through internal technology. It allows your processes, from supply chain to manufacturing to distribution, to operate efficiently, creating a better buying experience.

A NetSuite ERP system supports innovation by providing a flexible and scalable platform that can adapt to changing business needs. Manufacturers can easily introduce new products, expand into new markets, and scale operations without the limitations imposed by outdated systems.

The system’s cloud-based nature also ensures manufacturers can access the latest features and updates without costly and time-consuming upgrades. This ability allows F&B businesses to stay responsive to market trends and consumer demands.

Boosting Distribution

The online shopping experience is changing, and consumers now expect lightning-fast shipping from manufacturers and retailers. In fact, 68% of surveyed online shoppers cited delivery speed as a top factor for choosing retailers, according to research from Digital Commerce 360 and Bizrate Insights.

“Consumers rank delivery speed second [behind free shipping], as shoppers are accustomed to receiving their orders fast in an Amazon world,” Lauren Freedman writes for Digital Commerce 360. “Each retailer needs to assess the most desirable logistics solutions and associated costs amid heightened expectations.”

A NetSuite ERP system helps establish a smooth, efficient delivery process. It offers real-time visibility into inventory levels, allowing manufacturers to efficiently manage stock, reduce excess inventory, and minimize stockout risks. Its advanced demand planning and forecasting tools also help manufacturers better predict customer needs and optimize inventory levels to meet demand.

The system's automated order management capabilities boost customer satisfaction, as well, by streamlining the order-to-cash process, improving order fulfillment rates, reducing errors, and ensuring timely and accurate deliveries. Additionally, NetSuite’s Ship Central feature streamlines warehouse operations by integrating shipping processes directly with the ERP system, improving efficiency and accuracy.

Finally, NetSuite's robust analytics and reporting tools offer valuable insights into critical performance metrics. They help manufacturers make informed decisions and improve operational efficiency and responsiveness.

Schedule a free consultation with SuiteDynaics experts to learn more about how the system can improve your shipping processes and boost customer satisfaction.

Improving Financial Management

All businesses must excel at financial management, and F&B manufacturers are no different.

According to The Hartford, one study found that 82% of businesses fail due to poorly managed cash flow. That’s a jaw-dropping statistic, and if F&B manufacturers want to avoid that fate, they must invest in sufficient financial management software.

NetSuite’s ERP system offers robust financial management tools and comprehensive financial performance visibility. Manufacturers that use it can easily track expenses, manage budgets, and generate accurate financial reports.

The system’s automated accounting features also reduce the risk of errors and streamline financial processes, freeing up valuable time for strategic planning and decision-making. By integrating financial data with other business processes, NetSuite provides a holistic view of the company’s operations, enabling better financial control and planning.

SuiteDynamics employs financial and business experts who can help assess your company’s financial operations and develop practical NetSuite solutions that improve your processes. We can even demo the system so you can see its revolutionary features first-hand. Contact us today and start your journey toward digital transformation.

Equip Your Company to Rise

The F&B industry is fiercely competitive, and manufacturers face many obstacles, including strict regulations, rising customer expectations, and an unpredictable climate that could increasingly impact their businesses. These issues make advanced software systems a must for successful industry members.

In fact, they’ve already proven vital for mitigating the effects of recent global events. According to ECI Software Solutions’ “2021 State of Manufacturing Digital Transformation Survey,” almost 95% of manufacturing companies that used ERP systems during the COVID-19 pandemic said they helped them navigate that period's challenges.

A NetSuite ERP system stands out in its field because it offers powerful features that help F&B manufacturers operate more efficiently, innovate continuously, and achieve sustainable growth. SuiteDynamics experts can also ensure the software provides for your company’s unique needs so you can stay competitive and exceed your goals.   

Schedule your free consultation today and experience a business that runs better than you thought possible.

We pull information from NetSuite material, SuiteDynamics experts, and other reliable sources to compose our blog posts and educational pieces. We ensure they are as accurate as possible at the time of writing. However, software evolves quickly, and although we work to maintain these posts, some details may fall out of date. Contact SuiteDynamics experts for the latest information on NetSuite ERP systems.

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