NetSuite Unveils New Capabilities to Enable a Buy Anywhere, Fulfill Anywhere, Return Anywhere Commerce Experience
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced the release of NetSuite Intelligent Order Management. The new capabilities unveiled today help meet rising customer expectations and streamline the constantly-evolving complexities of omnichannel order orchestration. Merchants get the intelligence and automation needed to help use inventory more efficiently, reduce shipping costs and improve the customer experience.
NetSuite Order Management is one of the most widely used cloud-based, order management solutions in the world. In 2015, merchants using NetSuite’s solution transacted more than 246 million orders, a 46 percent increase from 2014. Total dollar order volume also soared, exceeding $180.5 billion in 2015, a 32 percent increase from 2014. Merchants continue to adopt NetSuite’s order management solution at rapid pace, according to IDC1, for B2B and B2C channels – website, mobile, in store, phone, direct sales and system-to-system.
Built on this success and momentum, NetSuite, in this new release, adds intelligent omnichannel order allocation so merchants can automate how to best fulfill orders based on their inventory availability and the configurable business rules they establish inside NetSuite. The functionality helps turn omnichannel shoppers into brand advocates with reduced stockouts, prompt delivery and a multitude of fulfillment options from wherever a merchant holds inventory. Merchants are better equipped to meet demand, increase inventory turns and reduce safety stocks, and are better able to scale their business while keeping labor costs flat.
Designed for high order volume, NetSuite helps merchants efficiently manage fulfillment, eliminate manual work and manage only by exception. In addition, NetSuite’s cloud-based technology deploys quickly and allows merchants to iterate rapidly as their business evolves.
“Getting customers what they want and when they want, every time, delivers a competitive advantage through an improved brand experience,” NetSuite’s General Manager of Commerce Products, Andy Lloyd says. “In addition to satisfying customer expectations, an effective order management solution protects a merchant’s margins so it can more profitably scale its business.”
True Brands is a multi-brand, global designer and supplier of beverage lifestyle accessories. The Seattle-based merchant has experienced 30 percent, year-over-year growth but its disparate systems and manual processes required increasing support, which eroded profits. In early 2015, the company replaced multiple, on-premise, back-office, legacy systems with NetSuite’s cloud-based ERP platform, eliminating data silos, consolidating systems and streamlining its operations. In mid-2015, True Brands deployed NetSuite’s ecommerce platform, SuiteCommerce, powering the merchant’s established B2B and growing B2C channels. All of its nine brands share the same cart, providing a seamless experience as customers shop from one brand to another. True Brands now has a single, cloud-based solution from its back office to its front-end, customer-facing systems.
The company operates three, US distribution centers and processes more than 2,500 B2B orders a week through its websites and call center. To further automate processes, improve margins and improve the customer experience, True Brands has added NetSuite Intelligent Order Management, eliminating its costly and best-guess practice of sales representatives determining how orders get fulfilled and shipped.
“In our business, it comes down to two things – great customer experience and business controls,” True Brands’ owner Nik Patel, said. “With NetSuite, we’re getting orders out fast and cost-effectively so we can pass the savings onto our customers.”
NetSuite’s new intelligent order capabilities facilitate the perfect order with the following functionality:
Order sourcing and allocation. NetSuite’s automatic location assignment allows vendors to optimize for reduced costs, faster delivery or a combination of factors to enable a fulfill-from-anywhere solution across all channels.
Release for fulfillment. Merchants get control over their release-for-fulfillment process with a second, automated process, which decides when to release orders and notifies each fulfillment location of which order to fulfill. Fulfillment managers get full visibility into the process – released orders, fulfillment status, and order exceptions.
Exception management. Merchants can automatically handle most order exceptions so the business scales with fixed headcount. NetSuite attempts to fulfill exception orders then informs the CSR or fulfillment manager of an unfilled order. Exceptions caused by inventory discrepancies are automatically flagged for resolution.
Store pickup. Merchants control which locations and items participate in the pickup process. NetSuite updates sales orders for store pickups and mixed orders. Once received, fulfillment requests are automatically generated, notifying a store of the order. When inventory is selected, the system notifies the customer their order is ready.
Ship from store. Merchants can save the sale by fulfilling from stores to meet customer demand, increase inventory turns and reduce markdowns. Merchants control which locations and items participate in the shipping process, while managing store capacity and inventory buffering to balance in-store and ecommerce fulfillment.
Order management insight and KPIs. Merchants empower operations managers to measure their attainment of the perfect order with insight and intelligence, from promising and allocation, to orchestration and fulfillment, through to payments and returns.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
1According to the IDC report, “Worldwide Order Management Market Shares, 2014: Digital Commerce Drives Growth,” published July 2015, “Cloud software vendor NetSuite was the fastest growing in the 2014 order management market, with 32.3% growth over 2013.”
For more information about NetSuite please visit www.netsuite.com.
German January exports to UK fell 30% year-on-year as Brexit hit – Stats Office
BERLIN (Reuters) – German exports to the United Kingdom fell by 30% year-on-year in January “due to Brexit effects”, preliminary trade figures released by the Federal Statistics Office on Tuesday showed.
In 2020, German exports to the UK fell by 15.5% compared to 2019, recording the biggest year-on-year decline since the financial and economic crisis in 2009, when they fell by 17.0%, the Office said.
“Since 2016 – the year of the Brexit referendum – German exports to the UK have steadily declined,” the Office said in a statement.
In 2015 German exports to the UK amounted to 89.0 billion euros. In 2020, German they totalled 66.9 billion euros.
Imports to Germany from the UK totalled 34.7 billion euros in 2020, down 9.6 % compared to 2019.
(Reporting by Paul Carrel; Editing by Madeline Chambers)
German unemployment unexpectedly rises in February
BERLIN (Reuters) – German unemployment rose in February for the first time since last June, data showed on Tuesday, dashing expectations for a fall as lockdown measures to suppress the coronavirus case load held back Europe’s largest economy.
The Labour Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million. A Reuters poll had forecast a fall of 13,000.
“Kurzarbeit (shortened working hours) continues to secure employment on a large scale and prevent unemployment,” Labour Office chief Detlef Scheele said in a statement, adding: “Individual sectors are feeling the effects of the lockdown.”
Germany has been in lockdown since November, and measures were tightened in mid-December, as it battles a second wave of the virus. Chancellor Angela Merkel has said new variants of COVID-19 risk a third wave of infections.
The unemployment rate remained unchanged compared with the previous month at 6.0%.
The labour agency said some 2.39 million employees were on shortened working hours in December under the government’s Kurzarbeit scheme designed to avoid mass layoffs during downturns by offering companies subsidies to keep workers on the payroll.
After peaking at some 6 million last April, the number of people on Kurzarbeit fell before rising again in November as lockdown measures kicked in, the Office said.
(Writing by Paul Carrel; Editing by Madeline Chambers)
We cannot ‘lockdown’ to avoid the climate crisis
By Vaughan Lindsay, CEO, ClimateCare
The parallels between the Coronavirus response and how we could all collaboratively tackle the climate crisis should not be overlooked. Tackling either problem, for instance, has changed our lifestyle in so many ways. In short, we have all have to make adaptations for a much longer-term gain. I also believe that the pandemic has highlighted to us all that we can live differently; indeed, that we are all incredibly adaptable.
We cannot isolate from the climate crisis.
Nevertheless, there are also some very important differences too; namely the speed in which we witness effects and how long we will all live with the impact. Covid-19 is more immediate, it’s on everyone’s minds (no matter how fatigued we all are by the topic after a year of living with it). Climate change, on the other hand, feels like a much longer-term threat which doesn’t invoke the same kind of unease or fear – or at least not enough for people to take immediate action. Yet, as Mark Carney so eloquently summed up recently, the world is heading for mortality rates equivalent to the Covid crisis every year by mid-century unless action is taken right now. “One of the biggest issues is you cannot self-isolate from climate,” he said. “That is not an option. We cannot retreat in and wait out climate change, it will just get worse.” Bill Gates also further highlighted the severity of the situation too when he recently commented that solving climate change would be “the most amazing thing humanity has ever done” and by comparison, ending the pandemic is “very, very easy”, the billionaire founder of Microsoft claimed.
Ultimately, the short-term imperative of dealing with the Covid-19 pandemic doesn’t alter the urgency of dealing with the climate crisis. And certainly, there is currently no ‘silver bullet’ for solving either the pandemic or climate change. However, there are a set of agreed actions that every business and individual can (and should) take to help tackle these issues. To tackle Covid-19 we lockdown, we work from home, we continue social distancing, washing our hands and wearing masks to protect one another and the NHS. And of course, we continue to roll out the vaccines and treatments for longer term protection.
On the other hand, we cannot lockdown to tackle the climate crisis. Rather for climate change, it’s about understanding and taking responsibility for our climate impact, both by changing our behaviour to reduce our carbon footprint and by decarbonising many of our business models and lifestyles. .
Now is the time to build back better.
To ‘build back better’ then we need to work towards a sustainable low or zero carbon recovery, and this needs to be done with realism and integrity. Not only does this mean that we need to work together to create integrated and robust climate strategies, but we also need to take action to decarbonise sooner rather than later and while we make these structural changes, we need to ensure that we are compensating for all residual emissions as part of everyday business too.
Taking action (over pledges).
Despite the pandemic, it was encouraging last year to see the ever-increasing number of corporates committing to achieve Net Zero status. However, whilst it is great to see firms working hard to measure their footprint and set reduction targets, many firms still admitted to us that they are waiting to get this right before they take action to reduce and compensate for their emissions. This remains a concern. Because, whilst these plans and long-term targets are commendable, they do little for the environmental damage that is being done right now. There is a risk of action hiding behind plans.
Ultimately, we need to more than halve emissions by 2030; this is equivalent to reducing the current emissions of China, India, the EU and the US combined. It’s a mammoth task. To tackle it we need to drive actions simultaneously and at pace, and then modify and adjusting moving forward. In simple terms, there really isn’t time to take things one step at a time anymore. We need to take action right away. As such – and as we continue through this coming year – we need to see more of these ambitious plans and statements put into practice, as companies continue to turn their plans (and pledges) into action.
Time to raise the bar.
The issue of climate change is now central to nearly all forward-thinking corporates and we are now witnessing one of most encouraging environments for them to act on this. It’s vital to ensure that the role of the voluntary carbon market delivers real additional emission reductions on the ground and at scale.
Never before has there been a better time to raise the bar and our own ambitions about what positive corporate action looks like. Because the climate will not respond to targets and pledges. Only action counts.
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