How NetSuite Enhances Supply Chain Transparency

Traceability from procurement through to sale of inventory is a core competency for any food and beverage company.  In this article, we explore how NetSuite supports this critical component, ensuring food safety, quality and regulatory compliance.

Supply Chain transparency isn’t a trend that food companies can dip their toes in – it’s a necessity in such a tightly regulated industry. Consumers and regulators want to understand the journey their food takes from farm or warehouse to table. Maintaining this level of transparency can be difficult without the use of modern tools. 

NetSuite is one of these modern tools – NetSuite is the #1 cloud-based enterprise resource planning (ERP) software suite designed to help businesses manage their entire operation on one platform. It has strong out-of-the-box functionalities for inventory management, lot management and traceability. 

Importance of Transparency 

Consumers expect transparency regarding the sourcing, handling, delivery, and quality of the food they consume. This includes environmental factors such as sustainable farming practices, the carbon footprint of the logistic process, ethical production, and the use of eco-friendly packaging.          

Food companies must be able to deliver this transparency at the click of a button to ensure consumer confidence and provide a competitive edge.  

NetSuite’s Ability to Deliver 

NetSuite was founded in 1998 and since the very beginning it has been focussed on companies managing inventory. Due to this experience, the product is feature-rich in providing supply chain transparency. This includes: 

Multi-location/Subsidiary Management

NetSuite’s multi-location management allows businesses to efficiently manage inventory, financials, and operations across multiple locations or subsidiaries. 

Inventory Status Management

Inventory Status Management is used to categorize and track inventory based on status (which can be configured). This level of details provides visibility into the condition and availability of stock. 

Lot Management

Lot management is critical for tracking the quality and safety of food products. By assigning lot numbers to items, businesses can monitor and record each lot’s journey through the supply chain. This includes: 

• Tracking Production Dates
• Tracking Expiration Dates
• Storage Conditions
• Quality Control Tests
• Origins
• Transportation

This level of tracking ensures compliance with food regulations, provides consumers with the information they demand and helps maintain high standard of item quality. 

Building a Transparent and Resilient Food Supply Chain with NetSuite 

Supply Chain transparency is crucial for success in the food industry, and NetSuite offers the tools to achieve it. By leveraging standard NetSuite functionalities, food companies have real-time visibility, precise traceability, and accurate records. For business looking to enhance supply chain transparency, NetSuite provide a comprehensive solution.  

FoodQloud is the industry leader for implementing NetSuite for food companies – get in touch with one of our experts.

Story by: Nick Bailey