Author: Reshma Joy

Insightful Overview of FAM Enhancements in Netsuite Release 2023.2

Asset Split for Fully Depreciated Assets The Asset Split workflow now accommodates fully depreciated assets. Note: Asset split transactions do not support disposed and inactive fixed assets. Bulk Asset Split – Validation Guidelines: Asset and Quantity are mandatory fields. Asset column requires the Asset internal ID. If optional columns are left blank, they will be… Continue reading Insightful Overview of FAM Enhancements in Netsuite Release 2023.2

Brief Overview of Revenue Recognition Improvements in the NetSuite 2023 Release 2023.2

Isolate revenue recognition from the invoicing process. Distinguish revenue recognition forecasts from actual revenue plans. Utilize event triggers, such as project percentage completion, fulfillment, or billing, to initiate the generation of planned revenue recognition. Efficiently generate period-end revenue recognition entries in bulk. Automatically reclassify deferred revenue for recognized revenue that remains unbilled.

KPI Dashboards for sales team

Creating key performance indicator (KPI) dashboards for your sales team in NetSuite can provide valuable insights and help track progress toward sales goals. Here are some possible KPI dashboards for your sales team in NetSuite: Revenue Dashboard: Total Sales Revenue: Monitor overall sales revenue in real-time. Monthly or Quarterly Sales Growth: Track the growth of… Continue reading KPI Dashboards for sales team

Inventory Forecasting

What Are the Different Approaches to Inventory Forecasting? While intuition and experience can play a role in forecasting, the most effective methods rely on data and formulas. Various methods and approaches exist for these formulas. The primary formula-based approaches to successful inventory forecasting include trend forecasting, graphical forecasting, qualitative forecasting, and quantitative forecasting. The choice… Continue reading Inventory Forecasting

Cycle and Physical Count | ABC Analysis

While both cycle counts and physical counts share the common goal of achieving accurate inventory data, they employ different methods to achieve this objective. These differences hold significant implications for day-to-day warehouse operations. Here’s a quick comparison of both methods: Aspect Cycle Count Physical Count Schedule Ongoing (often daily) Periodic (typically yearly) Items Counted Specific… Continue reading Cycle and Physical Count | ABC Analysis

Discount In PO

Client Query I have one question regarding creation POs. When adding items into POs, is it possible to add column for discount %. Or is there any other solution for discounts on POs items. Solution The first method involves adding “Discount” items as line items in the PO. These Discount items are placed directly below… Continue reading Discount In PO

Implementation of ABC Analysis : Proposal

Proposal for ABC Analysis This proposal covers the scope of Implementing the ABC Analysis for Blackstone IndustriesLLC. This proposal also covers the engagement scope of Jobin and Jismi IT Services, as officialimplementation partner Of Oracle NetSuite. Submitted To Submitted By Project ManagerJobin and Jismi IT ServicesSubmitted on 23 Table of Contents Proposal Summary…………………………………………………………………………………………………………………..4Requirement……………………………………………………………………………………………………………………………4Proposed Solution……………………………………………………………………………………………………………………4Assumptions and… Continue reading Implementation of ABC Analysis : Proposal

ABC Analysis Limitations

ABC analysis, despite all its benefits for inventory maintenance and management, is not a one-size-fits-all inventory management solution. Every organization has specific customer demand patterns, classifications, systems and other issues that affect the usefulness of an ABC analysis. The disadvantages of ABC analysis stem from two issues: an emphasis on the dollar value of inventory… Continue reading ABC Analysis Limitations

Formula Used for ABC Analysis

Pareto Principle and How ABC Analysis Relates to the Pareto Principle The Pareto Principle says that most results come from only 20% of efforts or causes in any system. Based on Pareto’s 80/20 rule, ABC analysis identifies the 20% of goods that deliver about 80% of the value. Therefore, most businesses have a small number of “A”… Continue reading Formula Used for ABC Analysis