As a leading provider of NetSuite solutions, we at Consule Solutions understand the significance of having access to accurate and relevant data to drive business decisions. One crucial aspect often overlooked is the analysis of products that have not been sold within a specific time frame. In this blog post, we will discuss the importance of tracking unsold or dead products and guide you through creating a custom report for this purpose in NetSuite.
Why is it important to track unsold products?
- Inventory management: By identifying unsold products, you can better manage your inventory, ensuring optimal stock levels and reducing the risk of overstock or stockouts.
- Product performance analysis: Analyzing unsold products provides valuable insights into which products are underperforming, enabling you to make informed decisions about discontinuing, repricing, or repositioning them in your product portfolio.
- Cost savings: Maintaining an excess inventory can result in increased storage, handling, and insurance costs. Identifying unsold products can help you reduce these costs and improve cash flow.
- Promotional strategies: Knowing which products have not been sold allows you to develop targeted marketing and promotional campaigns to move slow-selling items and increase overall sales.
Creating a Custom Unsold/Dead Products Report in NetSuite
Since NetSuite does not provide a ready-made report for unsold products, we will walk you through creating a custom report to meet your needs.
- To provide accurate data, it’s important to define a date after which you want to see the unsold products.
- The next thing would be how you decide a product is unsold, it can be based on products not ordered after a specific date or not invoiced after a specific date.
- You can also get an aging of the number of days a product is unsold.
Get Access To The Search
If you are a NetSuite end customer and have never built a saved search in NetSuite, no worries we will share this saved search. Send us a request with message “Access to Unsold Inventory Report”. We will share this search with no obligation.
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