SPECIFIC OPERATIONAL ISSUES

• Limited Inventory Visibility:  Difficulty in tracking stock levels and lead times across locations led to poor inventory management. 

• Manual Vendor Payments:  The company relied on time-intensive manual processes for managing payments to vendors. 

• Scrap and Rework Costs:  The manual tracking of scrap and rework costs led to inaccurate costing and operational inefficiencies. 

• Order Management:  Orders were entered manually into the operations system, further delaying the process. 

• Approval Delays:  Approval workflows were not integrated into the ERP system, creating delays and bottlenecks in decision-making. 

SOLUTION OVERVIEW

• Oracle NetSuite Implementation :  To address these challenges, the company implemented Oracle NetSuite, a robust and flexible cloud-based ERP solution, across multiple core business functions, including procurement, manufacturing, financials, and sales. 

• Furnace Log Automation:  Automated tracking of furnace processes and maintenance logs, improving equipment uptime and operational efficiency. 

• Procurement Process Automation:  Fully automated the material request process using reorder levels, significantly reducing manual intervention. 

• One-Click Vendor Payments:  Integrated Oracle NetSuite with the company’s banking portal for seamless accounts payable, automating payment processing. 

• Multi-Location Inventory Management:  Real-time visibility into inventory across multiple locations improved stock management and reduced carrying costs. 

• Scrap & Rework Automation:  Automated tracking of scrap and rework processes to improve cost accuracy and reduce waste. 

• Advanced Reporting & Analytics:  Enhanced reporting capabilities provide real-time insights into inventory, financials, and manufacturing operations, empowering data-driven decisions. 

IMPLEMENTATION OUTCOMES

The Oracle NetSuite implementation resulted in a transformative impact on the company’s business operations, leading to: 

• Increased Efficiency: Automation of processes with streamlined workflows, reduced manual errors, and significantly improved processing times. Faster procurement, vendor payments, and order processing reduced the overall cycle time, driving operational speed and accuracy. 

• Improved Inventory Control: Real-time, multi-location inventory tracking enables better inventory management, reducing overstock and stockouts. Optimized inventory levels reduced carrying costs and improved working capital management. 

• Enhanced Financial & Operational Reporting : Oracle NetSuite’s business intelligence and real-time reporting capabilities facilitated better forecasting, enabling more informed decision-making. Real-time visibility into financial data improved the accuracy of financial reporting and helped optimize costs across various segments. 

• Accurate Product Costing : Automated tracking of scrap, rework, and manufacturing costs enabled the company to achieve more accurate product costing, improving profitability, and pricing strategies. 

• Seamless Compliance with Regulatory Requirements : The automated e-invoice and e-waybill process ensures compliance with both domestic and export regulations, reducing administrative burden and errors.