Welcome, Today I'm going to take on the persona of the supply chain manager and the controller to illustrate Netsuite’s procure-to-pay process. During the demonstration I will cover inventory replenishment, blanket purchase orders in purchase contracts, receiving, and accounts payable. Prior to implementing NetSuite most companies face a similar set of business challenges. Most companies have established a manual process for managing vendors and replenishing their inventory. Given the inability to manage contractual pricing and delivery schedules for purchases most companies also lack the insight into vendor performance. NetSuite has developed a set of leading practices based on our work with thousands of customers over the last 20 years. These leading practices are developed out of the box and are delivered on day one. They were built to address many of the common challenges we see in managing the procure-to-pay process, from flexible workflow that scales with your business, to the built-in dashboards designed specifically to manage the procure to pay process.
Using NetSuite, a single system the information flows seamlessly from the purchasing to the warehouse and to accounts payable which helps eliminate errors and controls expenses. I am logged in as my supply chain manager and here he on his dashboard. He has all the information that he needs to manage our supply chain with key performance indicators charts and reminders. There is a notification that we need to order six items we can click right into that reminders notification to see the items that we need to order. So here my buyer can see all the items that need to be replenished and easily create the purchase orders. My buyer can sort by location and see specific locations or see all locations. It can also sort by vendor and see specific or all vendors. There are other filters and options that my buyer can sort by as well such as date ranges my items are broken out by the replenishment method. So I can see my time phased items, I can see my reorder point items also see if there's any blanket purchase orders that I can use. I can go ahead and select the items that I want to go ahead and create the purchase orders for by checking the box.
If I have a purchase contract that contract would automatically default for that item. If I had multiple contracts, I could choose from the appropriate contract except establishes a set price based off of the agreement with the vendor. Once I have selected all of my items I'm going click Submit and Netsuite will automatically create the purchase order. That's where you will create multiple purchase orders. I have two purchase orders in this case even though I ordered three items. Two of the items were bought from the same vendor so they have been combined into one purchase order. If we look at the purchase orders, we can see there's the garbanzo beans and the lime juice combined into one purchase order with the appropriate purchase contract associated to the garbanzo bean. Here we can see this purchase order is approved pending receipt. I can establish workflows to route the purchase order for approval based on any defined parameters such as a Pio amount and even a peel amount by buyer. Once approved the PIO can be emailed to the vendor.
Now let's switch to my warehouse manager. His dashboard contains great information letting him know that he has orders out there, to receive orders that need to be fulfilled ,and reminders on the number of orders that have been received or fulfilled within a month in comparison to the previous month, any late or under unreceived orders and other metrics that he can measure his warehouse. In the reminders I see that I have orders to receive. I can click and drill into the orders to receive and find the purchase order that has come in. I have a lot of ways that I can search and find the purchase order pane, search by vendor and filter down my list of results. I could scan in or type in the purchase order number to find my purchase order. I could sort on any of the columns listed here by Pio number by date and really sort the list. Here I see my purchase order 363 that we created earlier. I can go ahead and click on receive to receive that purchase order on the item receipt. I can see the vendors information, I can see the purchase order that it was created from and see the dates. I can see the items that are listed out that I need to receive and the locations that I am receiving it into. Now on the receipt I can check out the items that I need to receive. I can edit the quantities to record the correct amount that I actually received as well as any inventory details such as lot bin or serial number information.
So, for the lime juice I need to record a lot number, the bin number I'm going to receive it into, and an expiration date. If it has one and the quantity for that lot, I can split this into two lots if I receive multiple lots from the vendor. Now that I've received that the inventory detail concerns to a checkmark letting us know that we recorded the required information on the locations. I can take the existing location, or I could receive it into a quarantine or inspection or QA area. Now that we've recorded all the information for this receipt let's go ahead and save it. Let's use our recent transactions to go back and look at the updates to the purchase order. Now that we look at the purchase order, we can see that the status has changed from pending receipt depending billing down on the related records. I can see that there is a receipt associated to this purchase order and I could drill into that to see the items that were received, as well as on the tab I can see that I ordered 50 pounds of beans, and I receive fifty pounds of beans, I ordered 500 ounces of lime juice, and I received the 500 ounces of lime juice.
As we update the receipt, the purchase order is also updated. Now that our purchase order is ready too and our vendor has sent us that bill, we can switch to our controller role and see the dashboard that they use to manage the accounting and accounts payable process. On their dashboard they have reminders as well as key performance indicators that let them know average days to receive, average days to pay expenses compared to this month versus last month, financials overviews, sales trends and the reminders box with key reminders that are set up and established for accounting. One of the key reminders is they have is the purchase orders to Bill they can click and drill into the purchase orders to Bill. Here they can use the flexible search and sort options to locate the purchase order that needs to be billed. They just look by vendor, they can enter in the purchase order number, and they could resource to easily find that purchase order.
Here we see the purchase order that we received earlier po 363. We can go ahead and check the box and we can submit that to create the bill. Here we see Network has taken all the information from the purchase order and the receipt and created a bill. We can record any additional information that means to that is on the bill from the vendor, specifically the vendors invoice number. We can see that the vendor the amount the due date and the terms all come over into the bill as well as the items that we purchased and received and their inventory detail information, bin lot numbers, and expiration dates and locations all flow from the original purchase order and receipt. Now that we have all the information recorded, we can go ahead and save the bill once again. If we go back and look at the purchase order, we can see that it's been updated, and the status now is fully billed and on the related records we can see that the item receipt and the bill is associated to that purchase. From an audit trail we can always go back and see the purchase order. The receipt in the bill that's tied to it the items have been updated as well to show that we've received, we ordered 50, where you receive 50 and we billed for 50. So we can match that all the way through.
Now if we go back to the controller’s dashboard, we can look at an AP aging report to manage our payables. Here we see an AP aging summary report aged as of today. We have different aging options so we could change the date by which we're aging. We can look at it by due date, my transaction date, we can look at our different buckets 3 30-day buckets or 3 45-day buckets. The information that we see here is also interactive and I can drill down to details so for Frisco and the payable that we just entered I could drill in and see that information and see the bill that we just created and even from the report drill directly down into that bill that was created earlier. Back on our dashboard we also have a reminder of bills to pay. Here we can see that we have one bill that is ready to be paid. We can click on that and drill in and see the details of which bills are due here we can see the details about the bills that are due. We can even alter the selection criteria to filter down to the bills that we need to pay. We can mark these as to be printed to allow us to create a batch for a check run. We can also show the discount amount, the amount that we're going to pay. Once we select the bills that we want to pay, that information will be defaulted and can be changed. We're going to click Save and we're going to create that check run If we go back and look at the bill you can see that it's been updated to fully billed and on the related records we can see the payment that it's been applied to it and we can drill into that payment as well as drill back to the purchase order there originated from. On the bill we can actually drill down and see the GL impact of that specific bill.
Now that you've seen how my company's is naturally to efficiently manage our procure-to-pay process let's discuss what this means for your business. The ability to manage your vendors and purchasing process with the visibility to ensure you get the best price and delivery combination. Using our purchase contracts and our blanket purchase orders you can simplify the ordering process for your users, to spend with blanket purchase orders and purchasing contracts, optimize inventory levels to help ensure that you have the right materials at the right time and in the right place. And remember once live on Netsuite, leading practices there are plenty of advanced features of functionality to take advantage of when the time is right. So as your business grows NetSuite is there to scale with you.
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Welcome, Today I'm going to take on the persona of the supply chain manager and the controller to illustrate Netsuite’s procure-to-pay process. During the demonstration I will cover inventory replenishment, blanket purchase orders in purchase contracts, receiving, and accounts payable. Prior to implementing NetSuite most companies face a similar set of business challenges. Most companies have established a manual process for managing vendors and replenishing their inventory. Given the inability to manage contractual pricing and delivery schedules for purchases most companies also lack the insight into vendor performance. NetSuite has developed a set of leading practices based on our work with thousands of customers over the last 20 years. These leading practices are developed out of the box and are delivered on day one. They were built to address many of the common challenges we see in managing the procure-to-pay process, from flexible workflow that scales with your business, to the built-in dashboards designed specifically to manage the procure to pay process.
Using NetSuite, a single system the information flows seamlessly from the purchasing to the warehouse and to accounts payable which helps eliminate errors and controls expenses. I am logged in as my supply chain manager and here he on his dashboard. He has all the information that he needs to manage our supply chain with key performance indicators charts and reminders. There is a notification that we need to order six items we can click right into that reminders notification to see the items that we need to order. So here my buyer can see all the items that need to be replenished and easily create the purchase orders. My buyer can sort by location and see specific locations or see all locations. It can also sort by vendor and see specific or all vendors. There are other filters and options that my buyer can sort by as well such as date ranges my items are broken out by the replenishment method. So I can see my time phased items, I can see my reorder point items also see if there's any blanket purchase orders that I can use. I can go ahead and select the items that I want to go ahead and create the purchase orders for by checking the box.
If I have a purchase contract that contract would automatically default for that item. If I had multiple contracts, I could choose from the appropriate contract except establishes a set price based off of the agreement with the vendor. Once I have selected all of my items I'm going click Submit and Netsuite will automatically create the purchase order. That's where you will create multiple purchase orders. I have two purchase orders in this case even though I ordered three items. Two of the items were bought from the same vendor so they have been combined into one purchase order. If we look at the purchase orders, we can see there's the garbanzo beans and the lime juice combined into one purchase order with the appropriate purchase contract associated to the garbanzo bean. Here we can see this purchase order is approved pending receipt. I can establish workflows to route the purchase order for approval based on any defined parameters such as a Pio amount and even a peel amount by buyer. Once approved the PIO can be emailed to the vendor.
Now let's switch to my warehouse manager. His dashboard contains great information letting him know that he has orders out there, to receive orders that need to be fulfilled ,and reminders on the number of orders that have been received or fulfilled within a month in comparison to the previous month, any late or under unreceived orders and other metrics that he can measure his warehouse. In the reminders I see that I have orders to receive. I can click and drill into the orders to receive and find the purchase order that has come in. I have a lot of ways that I can search and find the purchase order pane, search by vendor and filter down my list of results. I could scan in or type in the purchase order number to find my purchase order. I could sort on any of the columns listed here by Pio number by date and really sort the list. Here I see my purchase order 363 that we created earlier. I can go ahead and click on receive to receive that purchase order on the item receipt. I can see the vendors information, I can see the purchase order that it was created from and see the dates. I can see the items that are listed out that I need to receive and the locations that I am receiving it into. Now on the receipt I can check out the items that I need to receive. I can edit the quantities to record the correct amount that I actually received as well as any inventory details such as lot bin or serial number information.
So, for the lime juice I need to record a lot number, the bin number I'm going to receive it into, and an expiration date. If it has one and the quantity for that lot, I can split this into two lots if I receive multiple lots from the vendor. Now that I've received that the inventory detail concerns to a checkmark letting us know that we recorded the required information on the locations. I can take the existing location, or I could receive it into a quarantine or inspection or QA area. Now that we've recorded all the information for this receipt let's go ahead and save it. Let's use our recent transactions to go back and look at the updates to the purchase order. Now that we look at the purchase order, we can see that the status has changed from pending receipt depending billing down on the related records. I can see that there is a receipt associated to this purchase order and I could drill into that to see the items that were received, as well as on the tab I can see that I ordered 50 pounds of beans, and I receive fifty pounds of beans, I ordered 500 ounces of lime juice, and I received the 500 ounces of lime juice.
As we update the receipt, the purchase order is also updated. Now that our purchase order is ready too and our vendor has sent us that bill, we can switch to our controller role and see the dashboard that they use to manage the accounting and accounts payable process. On their dashboard they have reminders as well as key performance indicators that let them know average days to receive, average days to pay expenses compared to this month versus last month, financials overviews, sales trends and the reminders box with key reminders that are set up and established for accounting. One of the key reminders is they have is the purchase orders to Bill they can click and drill into the purchase orders to Bill. Here they can use the flexible search and sort options to locate the purchase order that needs to be billed. They just look by vendor, they can enter in the purchase order number, and they could resource to easily find that purchase order.
Here we see the purchase order that we received earlier po 363. We can go ahead and check the box and we can submit that to create the bill. Here we see Network has taken all the information from the purchase order and the receipt and created a bill. We can record any additional information that means to that is on the bill from the vendor, specifically the vendors invoice number. We can see that the vendor the amount the due date and the terms all come over into the bill as well as the items that we purchased and received and their inventory detail information, bin lot numbers, and expiration dates and locations all flow from the original purchase order and receipt. Now that we have all the information recorded, we can go ahead and save the bill once again. If we go back and look at the purchase order, we can see that it's been updated, and the status now is fully billed and on the related records we can see that the item receipt and the bill is associated to that purchase. From an audit trail we can always go back and see the purchase order. The receipt in the bill that's tied to it the items have been updated as well to show that we've received, we ordered 50, where you receive 50 and we billed for 50. So we can match that all the way through.
Now if we go back to the controller’s dashboard, we can look at an AP aging report to manage our payables. Here we see an AP aging summary report aged as of today. We have different aging options so we could change the date by which we're aging. We can look at it by due date, my transaction date, we can look at our different buckets 3 30-day buckets or 3 45-day buckets. The information that we see here is also interactive and I can drill down to details so for Frisco and the payable that we just entered I could drill in and see that information and see the bill that we just created and even from the report drill directly down into that bill that was created earlier. Back on our dashboard we also have a reminder of bills to pay. Here we can see that we have one bill that is ready to be paid. We can click on that and drill in and see the details of which bills are due here we can see the details about the bills that are due. We can even alter the selection criteria to filter down to the bills that we need to pay. We can mark these as to be printed to allow us to create a batch for a check run. We can also show the discount amount, the amount that we're going to pay. Once we select the bills that we want to pay, that information will be defaulted and can be changed. We're going to click Save and we're going to create that check run If we go back and look at the bill you can see that it's been updated to fully billed and on the related records we can see the payment that it's been applied to it and we can drill into that payment as well as drill back to the purchase order there originated from. On the bill we can actually drill down and see the GL impact of that specific bill.
Now that you've seen how my company's is naturally to efficiently manage our procure-to-pay process let's discuss what this means for your business. The ability to manage your vendors and purchasing process with the visibility to ensure you get the best price and delivery combination. Using our purchase contracts and our blanket purchase orders you can simplify the ordering process for your users, to spend with blanket purchase orders and purchasing contracts, optimize inventory levels to help ensure that you have the right materials at the right time and in the right place. And remember once live on Netsuite, leading practices there are plenty of advanced features of functionality to take advantage of when the time is right. So as your business grows NetSuite is there to scale with you.