There are a few essentials every business needs to get right to grow. Top of this list are mastery of customer experience and the supply chain as well as a robust cash flow. Underpinning all this must be access to reliable, accurate and up-to-date data.
Sydney-born car part manufacturer Speedmaster knows this only too well. It relies on leading ERP software NetSuite to support its operations across the world.
Now one of the world’s most innovative automotive businesses, Speedmaster has engineered more than 25,000 car parts over its 40-year history.
Today, the company manufactures and sells its parts from distribution centres in Sydney, Los Angeles and Shanghai. Its 450 employees cater to wholesale buyers through a range of online, offline and reseller channels.
CEO Jason Kencevski puts it simply. “We make awesome parts for muscle cars.”
On a mission
Speedmaster uses NetSuite to connect its teams across three continents: Australia, North America and Asia. Kencevski explains the global ERP leader’s system allows his business to live its vision of being globally trusted and respected for its people and its products.
This starts with real-time data updates within NetSuite when a sale is made. In an instant, the whole network and inventory is updated across 6,000 resellers in 100 countries. This eliminates the risk of selling a product that’s out of stock, which supports trust and respect in the brand by customers and resellers alike and Speedmaster’s long-term cash flow.
“We supply millions of people with parts across multiple platforms. So if it’s in stock in our system, it’s live across all our platforms. Cash flow will go through the floor if we don’t have that connectivity between the warehouse and our online sales,” says Kencevski.
Achieving global aims
With operations across the world, NetSuite helps Speedmaster’s disparate teams to act as a whole.
“Our staff in China have a NetSuite login and they understand our sales forecast and what we’ve sold, sales targets and how we are going to achieve them,” says Kencevski.
“So the team can see what’s happening if Black Friday marketing produces a run on a product. Then, they start to appreciate the business is about more than just manufacturing, they understand what we’re selling and why we’re selling it. When a task is urgent they can see that and proactively work on it,” he adds.
As for the future, Kencevski says he will continue to rely on NetSuite to drive efficiencies.
“We keep asking questions of NetSuite and the answer is always, ‘yes, of course’. Having a full suite offering that includes financials, inventory, CRM and more is really a game changer. From here, we’ll really test the HR portion of it and keep pushing efficiencies. Everyone wants things quicker and faster than ever and I think we can achieve that.”
Multi-channel success
Family run online and offline furniture business Life Interiors started out 16 years ago. It has relied on partners such as NetSuite, which it first implemented in 2009, to support its growth and evolution since that time.
“We saw an opportunity to introduce designer furniture to Australia by working with overseas furniture designers and local brands,” says CEO Basil Karam.
Notwithstanding its position as one of the first online furniture retailers in Australia, Karam says he has always believed it’s important for Life Interiors to have a physical presence. It has showrooms in Sydney and Melbourne and a new one opening in Brisbane soon.
Online, the furniture e-tailing leader is about to launch on several marketplaces and is also a Target Australia partner. Its entire operations are managed centrally through NetSuite, with teams in Melbourne and Sydney and the Philippines.
“We started with three people and we’ve slowly grown in terms of our geographic reach and warehouse capabilities. NetSuite has been there to assist that growth. It has been very easy for us to extend its functionality without having the internal technical expertise to roll out updates,” he says.
NetSuite allows the business to provide exceptional service to customers thanks to the superior insights into the supply chain it offers. For instance, a feature that allows users to allocate a specific purchase order to a container helps Life Interiors to be fluid and transparent.
As soon as the team and the system is aware a container will be delayed, an email is automatically sent to customers to let them know. The enhanced ability NetSuite provides to communicate with customers helps keep return rates down, saving money and ultimately supporting cash flow.
Karam says the business will continue to deepen its relationship with NetSuite into the future.
For more than 20 years, NetSuite has been helping businesses take advantage of a powerful cloud ERP platform to gain the visibility and control needed to adapt and thrive.
