Any sales representative at one point in time in his/her career has to answer that question, customers not only are interested in knowing the prices of your products but also the delivery date. This information is crucial and can influence seriously the possibility to close a deal. Keeping excessive stock to meet future demand can be expensive, especially now that supply of products exceeds demand. Netsuite has a specific functionality that helps companies to provide an immediate estimated delivery date – Available to Promise (ATP) -, regardless if the sale is online or offline. The available to promise feature allows sales personnel to access a projected stock balance of a specific product per each single location. Netsuite calculates the expected daily inbound and outbound of the item and create an underlying ‘virtual bucket’ in which the correct balance is calculated. By analyzing the day/s in which the stock is ‘Available’ sales rep can firmly promise a delivery date (provided that the customer confirms the order) for companies selling online the Availability to promise can be published. Netsuite calculates the ATP using 2 methods – Discrete ATP – Cumulative ATP with look ahead – these methods can be selected at item level. If you anticipate that your demand is historically in line with your supply then it is advisable to use the discrete method, if on the other side your sales quantities are always greater than the supply quantities, then it is advisable to use the cumulative in that it betters accounts for shortages that may occur in the future.
TeamfieldEnterprise Partner of the Brand worldwide and Italsport have joined forces to augment the presence of this iconic brand in the Russian Federation by unleashing a new and digitally improved go to market. The Teamsport apparel business in Russia is now effervescent due to the world cup held in the country but also due to a strategic change in the economy. Importing products from abroad has become more and more expensive and many companies have decided to source products inland in some cases starting manufacturing locally, Russia does not intend to challenge the supremacy of countries like China or Bangladesh when it comes to Sport Apparel , but our discovery driven analysis clearly showed that there is a huge opportunity to grow this business with ‘Made in Russia’ manufactured products. Manufacturing of Patrick Branded Teamwear products will soon start in Russia and products will be offered in the country starting from September. In an industry always dominated by foreign products , we intend to promote the quality of Russian made products to the local market as well as provide our customers with top level customer services , proximity distribution, customization to the fullest extent possible , remittance in local currency , no more administrative burdens to import and many more advantages.
About Teamfield – Teamfield Enterprise is a Digital Transformation consulting company , our Brand Management Department was involved in this project.
Contact Genia at email@example.com (Speaks Russian and English)
About Italsport – Italsport is one of the oldest Teamsport distributor in Russia , it started Promoting and Selling Patrick products in Russia in 2007.
Contact Sergey at firstname.lastname@example.org (Speaks Russian)
About the Brand Patrick – Patrick is a French Brand owned by the Cortina Group and it is one of Oldest sport brand in the world , the brand which is now available everywhere in the world it is characterised by the fact that it bears the name of its founder. Back in the days when this industry was at the very beginning it was usual to name organization after the name of the owners (Adidas – Adi Dassler – Lotto – Caberlotto family – Umbro is a blend of words Humphreys Brothers Clothing.)
Various analytical techniques exist To assess company’s financial strength, we know that profitability, efficiency, leverage and liquidity are among those. Historically analysts have concentrated on the results deriving from the Profit and Loss and Balance Sheet, nowadays things are different, huge companies like Amazon have proved that ‘Cash is King’ and profitability is eventual. In Netprofitbuilers we share this vision, that is why when we implement Netsuite we advise CFOs to create specific portlets to monitor the 3 elements of the Cash Flow Statement being Cash Flow from Operations, Financing, Investing.
Perhaps the most important cash flow relationship is the one between the cash flow from operations and reported net income (In Netsuite it is possible to create formulas to calculate any ratios within the Cash Flow Statement) the so-called Cash-Flow-to-Net-Income ratio reflects the extent to which accrual entries have ‘contaminated’ the overall financial results, the formula to calculate this ratio is CFFO/NetIncome any CFO knows how to contextualize the result of this ratio and make sure that the correct actions are taken if the values are not in line with the expectations.
It is possible that companies with net-losses produce a healthy cash flow which we all know assures continuity, whereas it is possible to find companies with healthy net income but negative cash flows, normally profit alone does not ‘pay the bills’ it needs to be converted into cash.
If You want to know more about Netsuite One World Financial Platform and how it can streamline your entire worldwide operations contact us.
We successfully helped Baida Bags (Chinese Accessories Startup) to Define, Design and Manage their worldwide digital sales strategy, our international business developers have provided the brand with a presence in 3 continents, 11 Marketplaces, an asymmetric third-party logistic supply chain support plus return management and automatic stock replenishment system for each Mplace, customer service is also available for the entire network. With one single ‘Control Tower’ in China, we can now support the growth of this young brand all over the world. This project is unique, in that we were able to create a hybrid go to market composed of Proximity sales through the Mplaces and Cross-Border Sales from China. Contact us at email@example.com for more info, we can help you improve your worldwide digital sales.
China’s online shopping GMV totalled 6.1 trillion yuan (US$953 billion) in 2017, rising 29.6% from a year earlier, showing a pick-up in growth, according to the latest report from iResearch. China’s B2C online shopping amounted to 3.6 trillion yuan in 2017 with a share of 60% in the overall online shopping market, increased by 4.8 percentage points compared to 2015. The growth rate of B2C online shopping in 2017 was 40.9%, much higher than that of C2C online shopping, which was 15.7%. Thereinto, online retail sales in China’s rural areas approached 1244.88 billion yuan, soaring 39.1% from a year earlier. By the end of 2017, the number of rural online shops reached 9.856 million, up 20.7% over 2016, creating over 28 million jobs.
While many companies advocate ‘Cross Borders’ solutions, we are more in favour of a direct presence in China because the Chinese consumer needs to be served in his/her own language and should be able to have a customer service always available. We are different from many others ‘digital agency’ in that we are a digital sales provider, in fact, we not only make sure that your brand and your products are perfectly blended in the Chinese world but we also provide local operations. In this way, you have one single partner which can cover the entire spectrum of the digital operations in China. For more information please download our Presentation
Download our Managed Services Presentation –Managed-Services-_-Globommerce
An essential aspect of managing any business that sells physical goods is determining the right level of stock. Stock value sits on your balance sheet as an asset, assets consume resources thus affecting your cash flow. Companies that operate through different locations in different countries need to manage their stock carefully if they want to avoid overstock and duplications when companies sell online and offline in different countries then the magnitude of this problem Is even more evident. Brick and Mortar retailers and in certain way wholesalers, they all adopt the so-called ‘proximity model’ they try to be as much as possible near to their customers/ consumers, retailers achieve this by opening new stores, wholesalers by opening new warehouse centres or increase the level of distributors. In both cases, companies need a very effective Stock Management strategy if they want to thrive in this complicated business environment, as any mistake in this area can be extremely costly. Netsuite possesses many specific tools to help Retailers and Wholesalers maintaining the right level of stock in each location and/or subsidiary, the use of the demand plan in conjunction with an effective replenishment strategy can help reduce the stock level, the supply chain ‘control tower’ allows supply manager to unify all the locations of the company into one single view to obtain a combined projected stock level, specific alerts can be implemented to warn that excessive stock is building up in certain locations, automated release for each Blanket purchase order keep the stock inflow steady and in line with the expected sales, these are only some of the functionalities avaialable in Netsuite. We are expert in this area and we would be very glad to show you how Netsuite can help you streamlining your operations to optimize your stock strategy worldwide whether online or offline.