It’s here! NetSuite release 2022.1 is rolling out their first release of the year, and it’s full of impressive functions and enhancements! Our NetSuite team at Protelo has compiled the essential new features and “need to know” information for the latest 2022 NetSuite release. Check out the list below.
2022.1 Highlights & New Functionality
• Supply Chain Control Tower
• SCM Mobile (Pack Station & MFG Mobile)
• Cash 360 Dashboard
• Project 360 Dashboard
• Warehouse Management (WMS)
• Quality Management (QMS)
• NetSuite Analytics Warehouse (NSAW)
• Performance Management
Supply Planning Workbench
What is it?
• Saved-search based “View Filters” on Planning Workbench
• Planner/Buyer can use item-related criteria to filter workbench results (IE, by preferred vendor)
What is the business impact?
• Plan more efficiently; reduce stockouts, overstock, and expedited shipping costs
• Ensure POs are consolidated for quantity price breaks
• Improve cash flow and reduce cost of inventory overhead
Licensing Requirement:
• Advanced Inventory, Demand Planning, WO/Assemblies (for Assembly Item Planning)
Resources:
• SuiteAnswers Article – Supply Planning Workbench
Supply Chain Control Tower (SCCT) Enhancements
What is it?
• Real-time Vendor Delivery Performance Scores
• When Creating/Releasing PO; view vendor list that displays late delivery scores based on historic transaction analysis
• Saved Searches identify vendors displaying negative performance trends
What is the business impact?
• Reduce purchasing lead times; improve customer-service
• Increase accuracy of supply planning assumptions (lead times) Reduce stockouts and lost sales
• Collect data for pricing negotiations with vendors – increase profitability
Licensing Requirement:
• Advanced Inventory
Resources:
• SuiteAnswers Article – Supply Chain Control Tower Overview
Supply Chain Management (SCM) Mobile
What is it?
• Mobile Pack Station: Process order fulfillments using a kiosk device or tablet. Multilevel packing lets you pack items into cartons, then transfer packed cartons onto pallets
• Manufacturing Mobile: Allows production operators to report shop floor data using mobile scanner (material staging, component consumption, finished good production)
What is the business impact?
• Eliminate paper and manual data entry. Achieve real-time visibility into inventory & operations
• Reduce miss-ships and inaccurate production data reporting
• Fulfill orders quicker and reduce manufacturing lead times
Licensing Requirement:
• Adv Inventory, WO & Assemblies (for MFG Mobile)
Resources:
• SuiteAnswers Article: Manufacturing Mobile Overview
• SuiteAnsers Article: Pack Station Overview
Cash 360
What is it?
• Configurable dashboard to monitor receivables, payables, and available cash in real-time
• Enables customers to manage cash flow; provides real-time view of cash position
• Quickly generate accurate near-term forecasts
What is the business impact?
• Better visibility and forecast accuracy; improves financial decision-making
• Increase business agility and flexibility
• Increase efficiency of accounting team
Licensing Requirement:
• Core ERP
Resources:
• Press Release: NetSuite Cash 360 Helps Organizations Effectively Manage Cash Flow
Project 360
What is it?
• Comprehensive platform to run services business
• Dashboard provides centralized view into project information & KPIS
What is the business impact?
• Optimize project profitability through real-time visibility into recognized revenue and costs
• Improve project resourcing; insight into how much time each resource has spent against total for each assignment
• Provide better customer service through data-driven client engagement
Licensing Requirement:
• SuiteProjects
Resources:
• NetSuite Project 360 Empowers Project Managers to Deliver Projects on Time and Within Budget
SuiteAnalytics Dataset Linking
What is it?
• Link datasets in SuiteAnalytics to analyze metrics from two different datasets in a single visualization
• Does not require record types to have predefined common keys
• Compare data that exists on two levels of aggregation (IE, sum of individual transactions vs. monthly budget)
What is the business impact?
• Improved reporting flexibility increases business intelligence
• Identify trends & insight; Improve financial & operational decision-making
Licensing Requirement:
• Core ERP
Resources:
• SA Article: SuiteAnalytics Workbooks Overview
Warehouse Management System (WMS) Enhancements
What is it?
• Schedule Release of multiple waves; generate up to 500 waves for each scheduled release
• Zone picking for Single & Multiple Orders
• Additional support for Mobile Tally Scanning processes
What is the business impact?
• Increase efficiency of warehouse operations; reduce errors caused by manual data entry / lack of control
• Fulfill orders faster and increase customer-service levels
• Improve Lot/Serial traceability
Licensing Requirement:
• Adv Inventory, WMS
Resources:
• Video: NetSuite WMS Mobile Receipt & Putaway (6:30)
• Video: NetSuite WMS Release Orders (4:57)
• Video: NetSuite WMS Outbound Multi-Order Picking (4:49)
• SuiteAnswers Article: WMS Overview
Quality Management (QMS) Enhancements
What is it?
• New saved searches to access product specifications and inspection detail data
• New workflows to manage vendor Quality Inspection Scorecards
What is the business impact?
• Efficiently identify and quarantine defective product at point of receipt
• Identify and act on vendor-specific quality trends
• Improve customer service through improved quality standards
• Lower costs by reducing customer returns
Licensing Requirement:
• Adv Inventory, QMS
Resources:
• Video: NetSuite QMS for Managers (2:46)
• Video: NetSuite QMS for Quality Engineers (3:04)
• SA Article: Quality Management User Guide
NetSuite Analytics Warehouse (NSAW)
What is it?
• Pre-built cloud-based data warehouse and analytics solutions
• Consolidate multiple sources of data for analysis
• Includes pre-built multi-dimensional NetSuite data objects with managed data pipelines
• Build personalized dashboards, decks, and cards to deliver insight directly to your decision-makers
What is the business impact?
• Comprehensive view of businesses through consolidation of data across departments and sources
• Gain insight and identify trends to support scaling and increased profitability
Licensing Requirement:
• NetSuite Analytics Warehouse (NSAW)
Resources:
• NetSuite Analytics Warehouse Datasheet
SuitePeople Performance Management Enhancements
What is it?
• Performance review scheduler allows for more flexible review cadence
• Manager Digest; monthly email sent to managers to update them on their team’s achievements
• Allows managers to see which goals are in-progress, completed, or cancelled, along with comments and updates.
What is the business impact?
• Engaging individual and team goal management through intuitive self-service; Design targeted incentive programs to maximize return
• Meaningful analysis of employee performance and business data
• Retain employees and reduce turnover costs
Licensing Requirement:
• SuitePeople HR, SuitePeople Performance Management
Resources:
• Video: Performance Management for Employees (2:44)
• Video: Performance Management for Managers (3:13)
• Performance Management Overview
Honorable Mentions
Advanced Project Budgets Enhancements: Improved flexibility, reporting, and form subtabs for managing project budgets and budget vs. actual.
Invoice Presentation Template (IPT): Enables project-based businesses flexibility to create multiple templates to deliver different levels of details and presentation of the data on their invoices.
Supply Allocation Pop-up Window: The Allocated Demand and Allocated Supply pop-up windows are now available on the Supply Chain Snapshot.
Bulk Customer Payments: Generate payments for multiple customers and apply them to the appropriate invoices (requires SuiteBilling).
REST API for Time Bill: Rest API exposure for TimeBill record is available – enhanced connectivity to external systems for time reporting.
Automated Cash Application: Automatically generate GL customer payments and apply them to open invoices based on import bank lines that do not have a matching customer payment in NS (part of 21.2 but still not widely utilized).
Additional Information Available in: NetSuite 2022.1 Release Notes
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