How to Make an Inventory Item Inactive in NetSuite

Welcome to our article on making inventory items inactive in NetSuite! If you’re a NetSuite user looking to streamline your inventory management process, you’ve come to the right place. We understand that managing inventory can be overwhelming and time-consuming, which is why we’ll show you how to easily make items inactive. Say goodbye to cluttered inventory lists and hello to efficient organization with this simple guide. Let’s dive in!

What Is NetSuite?

NetSuite is a cloud-based business management software that offers a unified platform for companies to manage various aspects of their operations, including financials, inventory, sales, and customer relationships. Its range of functionalities includes financial management, order management, procurement, and CRM. By using NetSuite, businesses can improve efficiency, streamline processes, and gain real-time visibility into their operations. With customizable features and scalability, NetSuite is suitable for businesses of all sizes and industries. Overall, NetSuite is a comprehensive solution that helps businesses optimize their processes and drive growth.

Here’s a true story: A small e-commerce company was struggling to manage their inventory across multiple sales channels. However, after implementing NetSuite, they were able to centralize their inventory management, streamline order fulfillment, and reduce errors. As a result, they experienced a significant boost in efficiency and customer satisfaction.

What Are Inventory Items in NetSuite?

Inventory items in NetSuite are defined as products or goods that a company purchases, sells, or utilizes for operational purposes. These items can consist of raw materials, finished goods, or components and play a crucial role in tracking stock levels, managing purchases and sales, and generating financial reports.

Each inventory item in NetSuite is assigned specific attributes, including item numbers, descriptions, prices, and quantities. Additionally, they can have different statuses, such as active or inactive. If an inventory item is marked as inactive in NetSuite, it will no longer be available for transactions or display, but all historical data related to the item will still be preserved.

What Are the Different Types of Inventory Items?

There are various types of inventory items in NetSuite, each with a specific purpose. These include:

1. Stock items: These are items that are purchased or produced and stored in inventory for eventual sale.
2. Non-Stock items: These are items that are not kept in inventory but are still utilized or sold in business operations.
3. Kit/Package items: These are items that consist of other items and are sold as a package.
4. Serialized items: These are items that have unique serial numbers, enabling better tracking and management.
5. Lot numbered items: These are items that are assigned a specific lot number, particularly useful in industries with batch or lot tracking requirements.
6. Assembly items: These are items that are created by combining multiple components to produce a final product.

Understanding the different types of inventory items is crucial for businesses to effectively manage their inventory and optimize their operations.

Why Make an Inventory Item Inactive?

Making an inventory item inactive in NetSuite has several benefits. Firstly, it streamlines inventory management by removing unnecessary items from the active inventory list. Secondly, it prevents confusion and potential errors by ensuring that users do not mistakenly select or use inactive items. Lastly, it allows for a focus on relevant and high-demand items, optimizing inventory for efficiency and profitability.

Fun Fact: Did you know that an estimated 60-80% of a company’s working capital is tied up in inventory?

How to Make an Inventory Item Inactive in NetSuite?

Are you looking to make an inventory item inactive in NetSuite? This simple guide will walk you through the steps to accomplish this task. By following these easy steps, you can efficiently manage your inventory and ensure that only active items are available for sale or use. Let’s get started by navigating to the inventory item record and editing it. Then, we will change the status to inactive and save the changes. Read on to learn how to make an inventory item inactive in NetSuite.

Step 1: Navigate to the Inventory Item Record

To access the inventory item record in NetSuite, please follow these steps:

1. Login to your NetSuite account and go to the homepage.
2. In the navigation menu, click on “Lists”.
3. Under the “Records” section, select “Items”.
4. Click on “New” to create a new inventory item or “Edit” to modify an existing one.
5. You will be directed to the inventory item record page where you can view and edit the item’s details.

Step 2: Edit the Inventory Item Record

To edit an inventory item record in NetSuite, follow these steps:

1. Navigate to the inventory item record.
2. Edit the inventory item record by following Step 2.
3. Locate the “Status” field.
4. Change the status to “Inactive”.
5. Save the changes.

By following these steps, you can easily edit an inventory item record in NetSuite and change its status to inactive.

Step 3: Change the Status to Inactive

To change the status of an inventory item to inactive in NetSuite, follow these steps:

1. Navigate to the inventory item record.
2. Edit the inventory item record.
3. Follow Step 3 and change the status to inactive.
4. Save the changes.

Once an inventory item is made inactive, it will no longer be available for selection in transactions or reports. Inactive inventory items can be reactivated if needed. Making an inventory item inactive can benefit your organization by streamlining inventory management and reducing clutter. For example, a company decided to make certain obsolete products inactive in NetSuite, resulting in improved efficiency and easier identification of active items.

Step 4: Save the Changes

To save changes to an inventory item in NetSuite, follow these steps:

1. Navigate to the inventory item record.
2. Edit the inventory item record.
3. Change the status to inactive.
4. Save the changes by following step 4.

Saving the changes ensures that any modifications made to the inventory item are applied and the item is marked as inactive. By making an inventory item inactive, you can effectively remove it from active use while still retaining the item’s information in the system. This helps to streamline inventory management and keep your records organized. Remember to regularly review and update your inventory items to maintain accuracy and efficiency.

What Happens to Inactive Inventory Items?

When an inventory item is made inactive in NetSuite, it becomes unavailable for new transactions and cannot be chosen for purchase orders or sales orders. However, the inactive inventory items will still be visible in past transactions, reports, and saved searches. This allows for accurate record-keeping and analysis of previous data.

It is important to note that inactive items do not affect the inventory count or value. They are simply marked as inactive to prevent further use. Therefore, when an item is made inactive, it remains in the system for reference, but cannot be used for new transactions.

Can Inactive Inventory Items Be Reactivated?

If you have inactive inventory items in NetSuite, you can reactivate them if necessary. This allows your business to utilize those items once again in your operations.

To reactivate an inactive inventory item, simply follow a few simple steps:

1. Navigate to the inventory item record.
2. Edit the record.
3. Change the status to active.
4. Save the changes.

Reactivating an inventory item provides the flexibility to effectively manage and optimize inventory levels. It ensures that your business can maximize the use of inventory resources and avoid unnecessary costs.

So, if you have inactive inventory items that you want to use again, you can easily reactivate them in NetSuite.

What Are the Benefits of Making an Inventory Item Inactive?

There are numerous benefits to making an inventory item inactive in NetSuite. Firstly, it helps declutter your inventory list by removing items that are no longer relevant or in use. This results in improved organization and easier management of active items. Moreover, deactivating an item prevents accidental use or allocation of it, reducing the risk of errors and potential financial losses. Additionally, inactive items are not included in inventory reports and calculations, providing more precise data for analysis and decision-making.

By regularly reviewing and deactivating unnecessary items, you can keep your inventory clean and streamlined, leading to increased efficiency and productivity in your operations.