Carolina Fitness Equipment
Date: 1 Year, Dec 2020 - Dec 2021.
Technology: NetSuite used for equipment sales.
Team: Director Cassius Kellogg, Associate Consultant Tyler Fox, and Analyst Ricardo Perez.
Services Provided:
• Data & Analytics
• NetSuite Customization
• NetSuite Implementation
• Planning & Budgeting
• Application Integration
• NetSuite e-Commerce
NetSuite for Used Equipment Sales
NetSuite can be the ideal solution for a growing business, and it requires a knowledgeable team to implement correctly. The implementation team must have a solid understanding of the client’s needs and requirements, and a foundational knowledge of NetSuite for the client’s specific industry - in this article we will focus on Carolina Fitness Equipment and how they use NetSuite for new, used, and refurbished exercise equipment.
CFE serves customers ranging from individuals purchasing a set of dumbbells for their home gym, all the way to professional gyms looking for equipment to service their members and guests. CFE has full-time refurbishment and service teams, and a fleet of vehicles for deliveries, installs, service calls, and extractions.
CFE recognized that their initial NetSuite implementation was lacking and that the system could be optimized to better serve their business. All they needed was a partner that would take the time to understand their business and recommend best practices. Enter Bryant Park Consulting (BPC), led by Director Cassius Kellogg, Associate Consultant Tyler Fox, and Analyst Ricardo Perez. BPC identified several redundant workflows and processes that could be improved, primarily around Used Equipment Sales.
When gyms purchase equipment from CFE to replace their current inventory, CFE will often purchase the used equipment to refurbish and sell to other gyms and customers. During the initial NetSuite implementation, CFE was advised to setup Customers and Vendors as separate records. BPC advised CFE that Customers and Vendors could be merged for this exact scenario. Merging Customers and Vendors enabled CFE to keep their year’s worth of transaction details for both entities and simplify reporting moving forward.
To learn more about merging customer and vendor records, watch this YouTube tutorial.
When CFE purchases used equipment to refurbish, there is typically some sort of value-adding activity (such as replacing parts, cleaning and/or repairing) being performed before it can be resold. These activities were difficult to track in CFE’s legacy system. NetSuite offers users the ability to track these value adding activities when items are configured as Assembly Item Records (consisting of components or services completed via Work Orders). During the initial NetSuite implementation, the previous firm was unaware that Assembly Items could be purchased if enabled on the Accounting Preferences screen. This misunderstanding led to a complicated workflow with unnecessary customization and duplicate item records.
Conclusion
BPC mapped the current and future states above to help visualize the corrective actions being taken. With Assembly Items configured correctly, CFE was able to track value-adding activities, sales, serial numbers, and inventory more efficiently.
Contact Bryant Park Consulting at info@bryantparkconsulting.com to find out more about how NetSuite’s premier consultancy firm can help revitalize your business processes and ERP systems.
Interest in Carolina Fitness Equipment’s business? Visit https://carolinafitnessequipment.com/
“Bryant Park takes the time to understand how we operate to recommend and implement the best solutions for our business.”
— David Preble Founder, CEO | CAROLINA FITNESS EQUIPMENT