Dynamic Formula for NetSuite

Native Formulation Management Capability

Dynamic Formula for NetSuite has been designed from the ground up to transform process manufacturing for small and medium sized businesses.

For the first time ever, formulation management capability is built into the NetSuite ERP platform as native functionality.

Dynamic Formula for NetSuite has been developed to meet the specific needs of process manufacturers, where tolerances are low and quality standards are high. It offers a powerful, flexible and dependable solution for formulation management.

It will unshackle you from tedious data gathering, remove your reliance on inaccurate data, take away the burden of manual calculations and speed up the entire process of formulation management.

Why settle with an external system when formulation management is available natively, inside your ERP system alongside all your other business functions in a single, elegant solution?

Key Functionality

• Control all aspects of formulation management natively in NetSuite
• Calculate production capacity based on available stock across all locations in the business using real-time stock data
• Project production costs of finished goods using live data before committing to manufacturing
• Maintain quality by analysing the composition of your raw materials against finished specification, and avoiding scrap
• Control yields using smaller quantities of higher quality components
• Identify and select higher quality lots to be used for your formula
• Run simulations of your formulas and ask ‘what if?’ questions easily
• Create new formulas in seconds, save them and continue later where you left off
• Adjust existing formulas effortlessly and create libraries of formula variations
• Control access to formulas ensuring consistency and audit compliance
• Access formulation management from any device in any location

Demand Planning

Determining your production capacity based on available stock is an ongoing challenge, particularly where you operate across multiple locations or even internationally.

Dynamic Formula for NetSuite makes demand planning easier as it links all of your locations, so you can get an accurate picture of stock at any location instantly.

Suddenly, forecasting becomes much easier. Materials purchasing and expediting decisions can be based upon current stock levels and historic use data. Adjustments can be made to the product mix more efficiently as you know which raw materials are available and which will need ordering at any given time. And the decision to expand or contract orders of any given component is less risky, thanks to predictions you can make using real-time data.

Supply Planning

Keeping track of the quantity and movement of raw materials can be a constant headache, especially when you wish to maximise the quality and yields delivered, whilst minimising your costs.

Dynamic Formula for NetSuite helps you to understand the consumption of raw materials during the production process in detail using real-time data. It helps you to manage the supply chain with ease, as it flags materials that require re-stocking as work-in-progress inventory increases, maintaining production continuity. It can also help you to identify suppliers who deliver both the best quality and highest yielding materials, highlighting preferred suppliers.

With Dynamic Formula for NetSuite at your side, your day-to-day concerns will be removed, and coordinating all the aspects of supply becomes so much more efficient.

Quality Control

As meeting quality standards is central to your role, Dynamic Formula for NetSuite enables you to maintain quality, avoid unnecessary scrap and maximise your production capacity. You can define a quality target and then manage differing batches to achieve that target. It records the composition of each component within each batch and adjusts those components to meet the requirements of each of your formulas. And as it keeps tabs on the composition of materials, it enables you to deliver batches of equal quality at the best cost, and better understand your yields, whilst minimising scrap.

Cost Control

Keeping abreast of your production costs is a given, but wouldn’t it be so much easier if you could understand your costs at both the upper and lower end given a fixed quality target? And then to run a simulation to understand the impact of any change that you make?

Sounds like a whole load of tedious data gathering, running a bunch of calculations, and days of your time spent analysing results? No longer.

Dynamic Formula for NetSuite allows you to calculate the cost of production using your formula library or to make cost projections by creating new production simulations. It takes care of all the heavy lifting as the live data is instantly to hand. You will be freed up to control production more efficiently and with greater confidence as you’ll have an overarching view of your production costs at your fingertips.

Research & Development

A large part of production management involves asking ‘what if?’ questions in order to develop new production processes, as well as refining and optimising existing ones. These kinds of questions could potentially take days to answer, but with Dynamic Formula for NetSuite the answer is available within moments. This is possible as the previously disparate systems of formulation management, finance, warehouse management and quality control work together natively within NetSuite, with live data instantly available. It makes running production simulations quicker, simpler and cheaper.

Cloud Based Formulation Management

As Dynamic Formula for NetSuite is an integral part of NetSuite, it enables you to access your formulation management system from any computer, anywhere, so you’re not tied to any one desk! You can save work in progress easily and return to it later with no loss of data.

Imagine saving your current formulation simulation, building a library of formulas and being able to access frequently used simulations at the click of a mouse.

Revolutionises Formulation Management

With Dynamic Formula for NetSuite at your side, you’ll discover that the day to day business of formulation management is revolutionised, removing the tedium, uncertainty and sheer volume of work involved in keeping your manufacturing process on track. It brings an enterprise-level solution for controlling formulation management to small and medium size companies.