Business growth is a wonderful thing and expanding into new markets offers several new opportunities for your company. Not only do you have access to a growing customer base, but also new locations and employees to continue to drive innovation and growth. However, one of the first things that becomes more complex with growth is production. If you are moving from a single production site to several—or even just two—you are in for a bit of shock. Luckily, NetSuite OneWorld can help you manage the complexities of a growing and multifaceted production line.
NetSuite OneWorld Brings It All Together
The key component of expansion is managing your supply chain and facilities effectively. NetSuite OneWorld pulls all aspects of your supply chain together in one central, easy to use location, accessible from anywhere. There’s a lot that goes into a supply chain and if each aspect of the production chain is ignorant of what the others are doing, the efficiency of production will drastically decrease. Add in multi-locations and efficiency will almost halt if locations, departments, and people are not aligned across your locations.
When manufacturing components at different locations, all processes must be aligned. Full visibility into all locations will help upper management make decisions on the fly. Running low on raw materials, under production, overproduction, and delays are just some of the problems you can encounter and overcome more quickly than without an all-encompassing solution.
NetSuite OneWorld enables businesses to adjust depending on different currencies, legal compliance, and resource planning across the locations. Expanding and adding on locations to the headquarter location will no longer be an issue.
Taxes are unavoidable and it doesn’t matter if its different states or different countries—it’s something that must be taken seriously. NetSuite keeps track of all local taxes and fees due. While this is very useful if the business includes locations worldwide, it can also prove very useful if you have multiple sites within the United States. Local tax codes and laws can vary greatly from state to state and with NetSuite, all local expenses are kept track of and accounted for. Tax compliance saves your accounting department a great deal of time and ensures complete control.
Expanding into the global market is the goal of many businesses. One of the necessities in a new business management software for manufacturing organizations is the ability to maintain global e-commerce capabilities. NetSuite’s OneWorld module enables multi-language, multi-currency, and multi-brand e-commerce stores; the added benefit for you is that all stores will be managed from a single system. Manage stores around the globe from any location, anytime and in real-time so that you never skip a beat. All stores will be connected to NetSuite can recognize 150 currencies and can be converted allowing for exact figures.
As you can see, growing into a larger national and international company brings several unique challenges. But through the use of NetSuite, it all comes together in a concise and organized central system. Your supply chain is kept current and important information such as stock, raw materials, and orders are available at the touch of a button and in real-time. The complex maze of differing state and international taxes are balanced and fully customizable based on your needs. Lastly, language barriers and international currency exchange rates are easily handled as NetSuite OneWorld recognizes languages and currencies from around the world.
With the NetSuite’s manufacturing solution, OneWorld, you can grow your simple one location manufacturing plant into a global business all maintained on a single system.