How to Calculate Inbound Shipment Costing with NetSuite

Problem Statement

Our client received inbound shipments that consisted of multiple item receipts, each with its own unique set of items and quantities. To recover the cost of the shipment, our client needed the bill amount to be divided amongst all the item receipts associated with that specific inbound shipment. This division of cost was done based on the volume of each item receipt, ensuring that the cost was allocated proportionately to each item receipt.   

To facilitate this process, our client utilized inbound shipment records to track important information about the shipment, such as the estimated delivery date, the items included in the shipment, the quantity of each item received, and links to relevant documents and transactions. 

What We Suggested 

Our team of experts took a thorough and meticulous approach to understand the specific requirements of our client.  

We implemented a system that calculated the landed cost based on the volume of each item. This allowed for accurate cost allocation and made sure that the final cost is fair and proportionate to the amount of each item received. 

Additionally, our solutioning allowed editing existing terms, as well as the addition of new cost categories, bills, currencies, and amount details. This flexibility allowed our clients to have complete control over their landed cost calculations and could easily adapt to changing circumstances. 

To further enhance the usability of our system, we implemented an alert message that was triggered when a user added a duplicate cost category. This helped to prevent errors and ensured that all cost categories are unique and properly accounted for.

Customer Success

Our implementation of a volume-based landed cost update had a significant impact on the efficiency and accuracy of our client’s operations. Here are the key benefits:

1. Streamlined processes and saved time: By eliminating the need to manually split costs across multiple item receipts, our solution helped streamline processes and save valuable time and effort.

2. Easy adjustment of landed cost details: Our solution allowed users to view previously recorded landed cost details and adjust as needed. This meant that the user could quickly and easily modify the inbound shipment value, ensuring that it accurately reflects the actual cost of the shipment.

3.Real-time editing: With the option to edit cost categories directly on the same page, users could make changes in real-time without having to navigate between multiple screens or systems. This saved time and reduced the risk of errors.

4. Improved accuracy: Our volume-based landed cost update had enhanced the accuracy of inbound shipment values. By considering the specific volume of each item, our solution ensured that the costs are allocated fairly and proportionately, providing a more accurate and reliable measure of the true landed cost of each shipment. 
 
Overall, our solution had delivered significant value to our client’s operations, helping them to save time, reduce errors, and improve accuracy. Our commitment to delivering customized solutions that meet the unique needs of each client guarantees that they can rely on us to always provide exceptional service and support.