If your business operates across multiple warehouses, retail stores, or distribution centers, effectively managing inventory across all your locations is crucial. The NetSuite Multi-Location Inventory feature provides you with the tools you need to achieve accurate and efficient inventory management across various sites.
Overview of NetSuite Multi-Location Inventory
How does the NetSuite Multi-Location Inventory feature work? With this feature, you may (1) assign items and transactions to specific locations; (2) track the purchase, sale, stock levels, and value of items at each location, and (3) transfer inventory between locations seamlessly.
Setting Up NetSuite Multi-Location Inventory
Let’s take a look at setting up this NetSuite feature. Before activating the NetSuite Multi-Location Inventory feature, ensure that all open orders are fully shipped or closed. Once this feature is enabled and inventory is distributed, it cannot be turned off without assistance from NetSuite Customer Support.
Enable the Feature
To enable Multi-Location Inventory, navigate to Setup > Company > Enable Features, select the Items & Inventory subtab, and check the box for Multi-Location Inventory, and save the page. After enabling this feature, you’ll need to set up your locations and distribute existing inventory accordingly.
Create Locations
If you haven’t already, you’ll need to create a location record for each of your physical locations. To create a new location, follow these steps:
- Go to Setup > Company > Locations > New.
- Enter the necessary details, such as the location name and address.
- Use the Make Inventory Available and Make Inventory Available in Web Store checkboxes to make items at this location eligible to be added to orders entered at the location and online.
- Click Save.
These settings help control inventory visibility and availability across your various sales channels.
Distribute Inventory
When you enable Multi-Location Inventory, your existing inventory must be assigned to (or distributed to) the appropriate locations. You must ensure that inventory levels are zero or positive before distribution to maintain accurate records.
- Navigate to Transactions > Inventory > Distribute Inventory.
- Select either Simple Inventory Distribution (allocating all inventory to a single location) or Manual Inventory Distribution (specifying quantities per location).
- Fill out the necessary information on either distribution form, then save the record.
Simple Inventory Distribution
Manual Inventory Distribution
Manage Settings per Location
With Multi-Location Inventory, you can configure item-specific settings for each location, such as preferred location, reorder points, and preferred stock levels. Here’s how you would set that up:
- Navigate to Lists > Accounting > Items and select the desired item.
- On the item record, go to the Purchasing/Inventory subtab and then the Locations subtab.
- Enter the location-specific details, including reorder points and preferred stock levels.
- Click Save.
These settings help automate replenishment processes and maintain optimal inventory levels across all locations.
Conclusion
NetSuite’s Multi-Location Inventory feature allows you to manage inventory across multiple locations, ensuring accurate tracking, efficient fulfillment, and streamlined operations. By setting up locations, distributing inventory, and configuring item-specific settings, businesses can optimize their inventory management processes.