Less than six months after being acquired by Oracle, NetSuite — now officially the Oracle NetSuite Business Unit — hosted its first SuiteWorld 17 under new management, April 24-27 in Las Vegas. But despite the acquisition, retail clients should expect to see minimal operational changes. Services, customer support and development will be maintained within the NetSuite business unit.
Lyn Lewis, CEO of lingerie retailer Journelle and one of many retail executives who spoke at the event, shared her company’s experiences with the NetSuite platform. Lewis noted that physical retailing is still important for the brand as shoppers try on a new product, but she understands that with only four brick-and-mortar locations, e-Commerce will remain Journelle’s primary revenue generator.
With more inventory being shipped out through online transactions, the NetSuite platform takes heat off the back end of the retailer as well. Lewis and her colleagues set ideal stock levels for every location and for every single SKU. If there is ever a deficit between the actual stock level and the ideal stock level, the platform will automatically fulfill the stock request in the company’s warehouse at night. To support a clean picking process, the platform will classify the orders based on positioning within the warehouse rows.
“It will prioritize our largest flagship store over our brand-new store so that we’re putting our inventory in the places where it’s most likely to sell,” Lewis noted. “That’s where the customization is amazing. In a lingerie business where we have thousands of SKUs and we only stock two units of a 32D XYZ-type bra in a store, it’s really important that we’re able to be so flexible.”
With NetSuite, Journelle has been able to streamline its business operations under one system of record, while using buyer behavior to allocate customers into segmented focus groups.
“You need all that customer data all in one place,” Lewis said. “Customer data is going to become a distinguishing factor for us. Although we probably haven’t used it as much as we should have already, in this new online-first world, that data and what it allows you to personalize is what is going to allow you to distinguish the best of e-Commerce players from the rest.”
NetSuite Goes Global, Unveils New Products
Journelle was one of a few retailers sending speakers to SuiteWorld, joining Bonobos, Toad & Co. and Lucky Brand Jeans.
At SuiteWorld, the business unit revealedplans to more than double the number of data centers it operates globally, from five to 11. The new data centers will be located in Chicago, Germany, Australia, Singapore, Japan and China.
Additionally, NetSuite will be expanding its field offices from 10 countries to 23, with plans to increase head count by 50% to better address rising global demand for cloud ERP services.
As part of SuiteWorld, Oracle NetSuite released its unified industry cloud solution, SuiteSuccess. The SuiteSuccess platform includes four ‘pillars’ designed to enable retailers to expedite time-to-value, increase business efficiency, flexibility and greater customer success:
Build: A complete suite to support the modern business including ERP, CRM, PSA, omnichannel commerce, HR and Business Intelligence (BI) built on the NetSuite cloud platform;
Engage: Providing leading practices for each industry and role including workflows, KPIs, reports, dashboards and metrics, with the flexibility to personalize on the NetSuite platform from the initial sales contact to ongoing support;
Consume: Enabling companies to consume capabilities based on their business needs. The re-imagined consumption model is designed to drive faster time to value, better ROI and greater user adoption. Companies can now implement the cloud within 100 days; and
Optimize: Continuous engagement, new feature releases, value added SuiteCloud partners, and movement up the stairway. Customers also are always provided the latest product release.
NetSuite also will be offering a core human resources service, SuitePeople, which the company is adding to its cloud suite. SuitePeople will offer core HR capabilities such as native organization design, job and position management, workflows and compliance management, all powered by effective-dated employee master data. The platform also will provide its clients with HR analytics, compliance, and security services.
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