NetSuite 2016 New Release Highlights

Like clockwork, NetSuite rolls out their bi-annual release updates sharing new features and enhancements to the cloud-based business management solution. And as always, it’s a lengthy document…

It’s great for NetSuite users to know what’s happening with their software and how developers are working to make the user experience as seamless as possible. But in reality, there are typically only a few items that are exciting enough to learn and share.

As a certified NetSuite consultant that specializes in distribution, here is what I believe to be the high points of NetSuite 2016 Release 1 Release Notes.

NetSuite 2016 New Release Notes Updates

1. Customer Part Number - Improvements to the Supply Chain Management SuiteApp will allow clients to establish customer part numbers for existing and new items. Users will have the ability to associate customers with their own customer part numbers on item records. Customer part numbers can be set up one at a time or all at once via import. Items will be able to be added using the customer part number, eliminating the use of item numbers when creating sales orders and invoices.

2. Retail Stock Ledger Report – The ability to manage inventory by displaying activity for items over a period of time. The Stock Ledger report helps users to understand inventory SKU activity across classes, departments, and subsidiaries for several locations. This feature helps to recognize inventory that is slow moving, fast moving, or overstocked. It can also distinguish and plan inventory investment strategies and increase the efficiency of item promotions. To utilize the Stock Ledger report, go to Reports -> Inventory/Items -> Stock Ledger (Administrator). The Inventory feature must be enabled and to view Stock Ledger reports for multiple locations, the Mutli-Location feature must be enabled.

3. Shared Vendors Merge – Previously, you had the ability to share a single vendor record with multiple subsidiaries and you could merge the vendor records as long at the vendors had the same primary subsidiary. With the update, you will also be able to merge vendors with different and multiple subsidiaries. In order for the vendor record to merge, the tax IDs and tax registration numbers must be the same. Also, the primary currencies must be the same or the multiple currency vendor feature must be enabled. Check out Merging Vendor Records in the help topics for more information.

Interested in learning why businesses of all shapes and sizes are making the switch to NetSuite? Read how other organizations are benefiting from NetSuite. Have a specific question about one of these unique features of the 2016.1 release? Post a comment below and one of our NetSuite consultants will be happy to assist.

By: Bill Simendinger, Senior Consultant at BCG Systems, Inc.