General 2 — Bryant Park Consulting

Case Study

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

The Context

This was the case with Carolina Fitness Equipment, a regional chain specializing in selling new, used, and refurbished exercise equipment. CFE serves customers ranging from end-users purchasing a set of dumbbells, all the way to gyms looking for delivery and installation. 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 and Associate Consultant Tyler Fox, and Analyst Ricardo Perez. BPC identified several redundant workflows and processes that could be improved, primarily around Used Equipment Sales.

The Solution

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 set up 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.

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.

What We Did

NetSuite Implementation

As a top-tier NetSuite Alliance partner, our expertise is helping our clients implement NetSuite ERP. Our directors and managers have implemented NetSuite and know what it takes to have a successful implementation.
NetSuite Customization

No two businesses are alike, and we strive to make NetSuite fit your custom business processes. Our experienced SuiteScript development team can help automate processes and fill functional gaps.
Planning and Budgeting

We assist FP&A and Operations teams to implement leading tools to organize complex interconnected forecasting and financial modeling with tools like NetSuite Planning and Budgeting and Workday Adaptive Planning.
Application Integration

Most companies leverage multiple cloud or on-premise applications to manage their entire business. We leverage leading integration platforms to eliminate dual data entry and streamline processes across our clients' systems landscapes.
Data & Analytics

Our data and analytics practice helps organizations organize and glean insights from their business data from NetSuite and other external data sources through implementation of leading data warehousing, master data management, and business intelligence tools.
NetSuite eCommerce

Our experienced web design and development team can help implement, optimize, and support new and existing eCommerce on the NetSuite platform.

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.

NetSuite for Used Equipment Sales

NetSuite can be the ideal solution for a growing business, but it requires a knowledgeable team to implement correctly. If the implementation team does not have a solid understanding of the client’s needs, and foundational knowledge of NetSuite, it can be a costly headache for business owners.