Streamlining Inventory: Mastering NetSuite’s Bin Management System
Managing inventory effectively can be overwhelming, especially for businesses dealing with large inventories or complex stock management needs. But with NetSuite’s streamlined, user-friendly interface, managing inventory becomes a much easier task.
In this article, we will introduce you to NetSuite’s Bin Management System. It’s a great tool that helps businesses control their inventory better, work more efficiently, reduce mistakes, and improve customer satisfaction. Let’s dive in and learn more about it.
What are Bins?
In NetSuite, Bins are a feature of the Inventory Management module, used to manage and track inventory within a warehouse or storage facility. A bin is a specific location within a warehouse where inventory items are stored. Bins help businesses better organize and manage their inventory, making it easier to locate items for picking, packing, and shipping.
In your warehouse, you can use bin management to mark specific places where you store inventory. Bins help you easily track how much stock you have. By using bins, you can organize the receiving process and make it simpler to pick the right items for orders.
NetSuite offers two distinct features for managing bins
Bin Management: This feature provides a straightforward method for tracking inventory within bins. Before utilizing bins in transactions, they must be associated with items. However, it does not support the use of bins with serialized or lot-numbered items, nor does it operate on a per-location basis.
Advanced Bin / Numbered Inventory Management: This enhanced bin management feature in NetSuite enables tracking of bins for serial-numbered and lot-numbered items on a per-location basis. The advantage is that bins no longer need to be pre-associated with items to be used in transactions. Additionally, it supports associating bins with serialized and lot-numbered items, as well as using bins per location.
Configuring Bin Preferences
Before utilizing bins, it’s essential to configure NetSuite with the appropriate preferences.
Navigate to Setup >Accounting > Accounting Preferences
head to the Items/Transactions tab
In the Inventory section, you will find two bin preferences:1. Require bins for all transactions except item receipts, and 2. Auto-fill the bin field on item receipts with the preferred bin
Creation Of Bin Record
Next, create bin records to define the bins needed in your warehouse. You can create as many bins as necessary and easily view the quantity on hand for connected items.
To create Bin record in netsuite , Go to List > Supply chain > Bins
- Click On New
- Assign Bin Number
- Assign Location
- Click On Save
Associate Bins with Item Records
After creating bin records, assign them to item records as follows:
- Go to the item records list and click ‘Edit’ next to an item.
- Under the ‘Inventory’ tab, check the ‘Use Bins’ box.
3. In the ‘Bin Numbers’ subtab, select the item’s location and bin number. You can add multiple bins.
4. If one bin should be the default, check the ‘Preferred (Per Location)’ box next to it.
Once assigned, bins can be used in transactions involving that item.
You’re all set! You can now start using bins in your item management.
