NetSuite Multiple Vendors

NetSuite for Administrators

Do you purchase the same items from different vendors? With the NetSuite Multiple Vendors feature, you can associate more than one vendor with your item records, allowing you to easily pull accurate purchase prices for items onto purchase orders and keep track of vendor stats. Let’s take a quick look at how you would set up this feature.

Multiple Vendors Overview

Enable the Multiple Vendors Feature

First, you’ll need to enable the Multiple Vendors feature. You can do that on the Items section of the Items & Inventory tab in Enable Features.

Configure Item Records for Multiple Vendors

Next, you’re ready to configure your item records for multiple vendors. Any inventory, non-inventory, or service item record can be associated with multiple vendors. To do that, open an item record in Edit mode, navigate to the Purchasing/Inventory tab and select the Vendors subtab. Here, you can view vendors that have already been associated with that item as well as add new vendors to the list.
Add Multiple Vendors to NetSuite Item Record

On the Vendors list, you can include information like the vendor name, a code that is associated with this vendor, a pricing schedule (if applicable), the purchase price this vendor asks for this item, and whether or not this vendor is the preferred vendor for this item. If you are not using the Multiple Currencies feature, you will also see a currency column where you can select the appropriate currency. If you are using Multiple Currencies, this column will not be visible, since you will select the currency when you set up the purchase price.

When adding the purchase price for an item, you will see the following icon under the Purchase Price column.

Set Purchase Price for NetSuite Vendor

Selecting this icon will open a pop up window where you can choose the currency and list the purchase price for that vendor and that currency. Then, hit the Ok button to complete adding the purchase price for this vendor.

Pop Up for Setting NetSuite Purchase Price
You can add as many vendors to an item record as you wish. When you’re finished, save the record. Once you have multiple vendors listed on an item record, you can select any of the vendors for an item on purchase orders and NetSuite will pull in the correct purchase price. The vendor you listed as the preferred vendor on the item record will be the default vendor for this item on purchase orders.

Conclusion

The NetSuite Multiple Vendors feature allows you to easily add multiple vendors to your item records. If this is a feature you would like to begin using in your account or if you have any other NetSuite needs, SuiteRep would love to come on board and help you start seeing better business results. Contact us to get the conversation started!