The document discusses how NetSuite ERP software can benefit manufacturing startups in Singapore. It provides advantages like visibility and control, flexibility, commerce capabilities, and powerful CRM. NetSuite helps with order management, planning, supply chain, procurement, shop floor control, quality management, and CRM/marketing. It provides a unified platform for financials, inventory, HR and more. Partner ERP Buddies offers NetSuite implementation and support services.

1. NetSuite ERP for
Singapore Manufacturing
Start-ups

2. Singapore's economy is
driven by its manufacturing
industry, financial services, tourism,
and port. The manufacturing
industry contributes 20-25% to its
annual GDP. Its strategic location in
the Malay Peninsula in Southeast
Asia has helped it become the
world's leading manufacturing
company. It has a diverse and
inviolable manufacturing base in
electronics, aerospace, precision
engineering and biomedical
sciences. The Government is
promoting manufacturing units to
focus on robotics, artificial
intelligence, intelligent sensors,
and printing to transform the
industry. By 2024, it's expected to
The manufacturing sector is closely tied to research and development and
registering intellectual property will give investors’ confidence and boost
this sector. The Government has already invested 3.2 billion Singapore USD
(2 billion euros) in R&D for the advanced manufacturing and Engineering
sector to integrate Industry 4.0. In 2018, they set up 2 model factories to
help companies accelerate the adoption of the industry 4.0 model, which has
increased productivity from 10 to 15%. The purpose is to equip companies
with the right tools and mindset to meet future challenges, thus evolving
and empowering them to reorient, refine and innovate their products.
The Singapore Economic Development Board (EDB) aims to strengthen the
digital economy and bring in investors for the manufacturing sector. They
want native Singapore companies to utilize the Industrial Transformation
Asia Pacific event and export services and technology. Singapore is the
top-ranked on the Global Innovation Index among Asia Pacific countries.

3. Manufacturing Industry of Singapore
Singapore's manufacturing industry has been booming since its inception,
and the Government has taken austere steps so that the industry keeps on
flourishing. The strategy has been impactful:
The sector has transformed from low-cost, labour-intensive production to
high-value manufacturing.
Contributed over US$ 79 billion to GDP
The manufacturing sector has set its eyes on digitalizing the industry and
improving productivity through technology adoption to remain
competitive and maintain its development trajectory in Industry 4.0.
Manufacturing has seen 22.3% gross value added (GVA) growth in all
sectors in recent years.
Over the years, the manufacturing sector contribution has propelled from
95.07 (2020) and 112.4 (2021) billion Singapore dollars.
Foreign direct investment in the manufacturing industry has recently
catapulted from 257 billion Singapore dollars to 372.4 billion Singapore
dollars.
Electronic manufacturers are the most significant contributors, followed
by chemical manufacturers.
The current purchasing managers index (PMI) for the manufacturing
industry in Singapore is 50.1, which indicates a growing factory activity in
the country (below 50 shows declining factory activity in Singapore).
The per unit cost of production has gone down, including labour and
non-labour costs, unit service costs, and taxes, as reflected by the
business cost index of manufacturing (72.9).

4. The chemical and chemical products industrial production index is 110.17
The refined petroleum product industrial production index is 86.04
The pharmaceuticals biological product industrial production index is
145.31
613 licenses for health product manufacturers
579.5 million Singapore dollars spent on R&D
Why is NetSuite ERP Necessary for Singapore?
Currently, Singapore is the leading manufacturing market in Pacific Asia. The
Government is encouraging start-ups to invest more in this sector and is
providing funds to mechanize and revolutionize the system. However,
expansion leads to the addition of tedious and complicated tasks, and it
gets challenging to handle them. NetSuite is one of the topmost cloud
business software suites, providing a unified experience to its partners by
amalgamating ERP/Financials, eCommerce, CRM, and other departments.
NetSuite provides solutions to start-ups and enterprises. Businesses trust
them as they provide the following:
Visibility and Control
Built-in flexibility
Commerce-ready ERP
Global ERP
Industrial
Production
Index
Industry
Pharma RPP C&CP
0
50
100
150
200
145.31
86.04
110.17
Pharma Pharmaceuticals
Biological Products
Refined Petroleum
Products
Chemical and
Chemical Products
RPP
C&CP

5. Advantages of NetSuite for the Manufacturing
Sector in Singapore:
SML companies integrate their systems with NetSuite as it provides one
platform for the entire company, handles all the local and international
departments, deals with multiple currencies, eliminates IT maintenance and
upgrade costs, and helps them make better decisions faster. NetSuite's
'out-of-the-cloud' comprehensive indirect tax management and reporting
capabilities cover over 90% of global GDP. They are used in over 110
countries with support for the most widely used languages, ensuring your
business system is ready to handle your international footprint wherever
your company operates.
Powerful CRM Capabilities to Strengthen B2C
and B2B relationships
NetSuite's CRM software for manufacturing enables clients to get complete
client data and customize their product options. It provides a 360-degree
holistic view of customers. It's the only cloud solution that offers entire
touchpoints for the client, from awareness to conversion to loyalty and
support. CRM delivers Sales Force Automation (SFA), customer support,
marketing automation and other services. It elevates productivity,
streamlines lead-to-cash procedures, improves performance, forecasts,
upsells, and manages commission, global sales, and benefits. NetSuite for
manufacturing helps in driving performance, orders, and partners.
Management of Inventory workflows through
its Supply chain management
Manufacturing industries have a vast inventory at hand to manage. From
raw materials, their quantity, batch, and quality, to work in progress and the
finished goods inventory. They must check the product quality, order
completion and fulfillment, and manage the warehouse. NetSuite for
manufacturing keeps track of procurement, assembly, manufacturing,
storage, and tracking dimensions. Its inventory, manufacturing and
purchasing management ensures the efficiency of the supply chain. It
improves collaboration between vendors and customers and ensures the
smooth functioning of the business.

6. The flexibility of integrating with multiple
channels:
NetSuite can be combined with any third-party media to enable the smooth
functioning of the business. With its integration flexibility, manufacturing
businesses' performance and agility can improve multifold as all the
relevant software's unified at a single platform.
Better financial planning
Integrating your system with NetSuite ERP empowers the manufacturing
business to generate financial reports, including profit and loss statements,
balance sheets, budgeting reports and cashflows. Its insights on financial
planning enable enterprises to accurately budgeting. It puts companies in a
better position to track annual profitability targets and narrow the gap
between insights and actual numbers.
Customizable features enabling
improvement in business performance
NetSuite ERP system is customizable, implying that manufacturing business
can finetune their features and enhance their performance. This way,
companies can generate reports, including invoices, accounts payable,
receivable, inventory, and other features. NetSuite ERP enables
manufacturing businesses to record transactions, create reports, track
expenses, and document management.
Maximizing staff productivity with
Sophisticated HRM Modules
NetSuite's ERP system can bolster the employee's performance. With its
advanced HRM modules, manufacturing businesses can opt for a subtle
HRM module and scale up their staff performance. They won't need to
invest in further software when their employee base expands.

7. How NetSuite ERP Solution Facilitates Your
Manufacturing Industry:
NetSuite provides a multitude of customizations and features to scale up
your business. It's the most standardized software for sharing business data
within the company. It provides a unified, holistic view of the database and
integrates whole business functionalities simultaneously. Furthermore,
NetSuite speeds up business processes by reducing paperwork and tedious
and manual tasks. ERP Manufacturing comes with multiple features:
Order Management
You may optimize inventory on hand, minimize shipping costs, and improve
the customer experience by automating essential operations and gaining
access to real-time information. As consumer demands increase and supply
chains get more complicated, delivering the perfect order becomes more
crucial and challenging than ever. NetSuite Intelligent Order Management
automates the processes of order promising, allocation, orchestration, and
execution, fulfilling orders efficiently based on global inventory availability
and business rules.
It manages labour costs, automates fulfillment processes, eliminates
duplicate entries, integrates order-to-cash procedures, and improves
workflows by approving pricing, routing, and discounting.
Planning and Scheduling
NetSuite's ERP software balance supply and demand automatically,
ensuring you have the correct inventory in the right location at the right
time. Scheduling is one of the most challenging aspects of production.
NetSuite provides a flexible but straightforward real-time scheduling engine
with finite and indefinite capacity scheduling; view all upcoming work
orders whenever and however you want. NetSuite presents impending
production with easy drag-and-drop tools in a classic calendar view or a
Gantt chart. Once everything is planned, you can see the real-time output
and detect possible issue areas.

8. Supply Chain
You can control and monitor your outsourced production operations with
NetSuite's ERP Software. Where and by whom a product is produced
should not be a barrier to growth. NetSuite provides a global picture of
inventory regardless of where it is in the manufacturing process, allowing
businesses to manage outsourced production as if they were conducting
the manufacturing themselves. NetSuite supports multi-location planning
with real-time inventory visibility, vendor location management, and
comprehensive distribution requirement planning (DRP).
Procurement
With NetSuite ERP software, manage your suppliers and purchasing
operations with visibility to guarantee you obtain the right items at the
right price when needed. NetSuite was designed from the beginning to
meet the demands of product-based organizations. It now includes several
native capabilities, such as requests for quotes, blanket purchase orders,
and buy contracts, to ensure that you have the correct materials or things
accessible at the right time and place. Make the procure-to-pay process
more efficient by spending wisely. NetSuite improves procurement by
providing tools that better manage expenditure, streamline requests for
products and services, and provide real-time insight throughout your
operations.
Shop Floor Control
With NetSuite's ERP software, you can make improvements across the floor.
Many firms devote considerable time and effort to perfecting the future
using planning and scheduling programmes. Recording when, where, what,
why, and how your products are currently manufactured is equally essential.
It's a critical component of a more precise timetable. NetSuite makes it
simple to collect information from the manufacturing process in a timely
and reliable manner. NetSuite's interactive tablet application provides
real-time data from the shop floor. The tablet application is deployable via
any browser and can correctly record what happens at each phase of the
production process. The programme displays an interactive work queue of
all current and upcoming operations planned through the existing work
centre. The user-friendly style was created primarily for use in severe
production conditions and can even be used while wearing gloves.

9. Quality Management
Designing and manufacturing a high-quality product isn't an easy task. With
NetSuite, you can manage high-quality items with little overhead, define
inspection plans, pass/fail criteria, collect data, and monitor all recorded
outcomes. It increases the quality of workflow while lowering the expenses of
the business. NetSuite is specially developed to assist manufacturers of all
sizes to reduce operational costs, increasing revenue, and improving business
and supply chain management. Define and maintain your inspection strategies
and collect and report on non-conformance.
CRM and Marketing
NetSuite's ERP system controls the entire customer lifecycle. Successful
businesses now adapt to their client's requirements. They have replaced
manual procedures with automated ones whenever possible to boost
efficiency and responsiveness. NetSuite customer relationship management
(CRM) includes sophisticated capabilities like sales force automation,
marketing automation, and customer care and support management in a
single cloud solution. NetSuite CRM also provides robust sales performance
tracking, order management, and partner management, which are easily
connected with your NetSuite ERP and eCommerce platforms. A thorough
view of sales allows you to organize your shop floor operations and forecasts
better.
Partner with ERP Buddies, a NetSuite Solution
Provider
ERP Buddies is a North American Official Oracle NetSuite Solution Provider
with diverse experience in implementing & Supporting NetSuite ERP for many
industries. With operations in the U.S, Canada, Europe, India, and the
Philippines, our Expert Team is accessible globally. It is their priority to create
a smooth and positive experience for clients. Our experts assist clients
throughout the entire implementation process, with on-site support and
consultation & additional assistance in customizing your system to guarantee
it meets your business needs. With its SuiteServices, ERP Buddies instals
tracking services, close the gap for functionalities not offered in SuiteProjects,
enhance project and task management, & track costs and warranty eligibility.
SuiteServices provides enhanced project and task management, tracking of
percentage completion, enhanced job costing and resource allocation.