IBS Electronics Recognized by NetSuite as Winter 2024 Alliance Partner Spotlight Award Winner

We are thrilled to announce that Oracle NetSuite has honored Myers-Holum, Inc. as a Winter 2024 Alliance Partner Spotlight Award Winner for their exceptional work in the Wholesale Distribution industry supporting IBS Electronics in their NetSuite implementation. This recognition highlights IBS Electronics' commitment to excellence and innovation in leveraging NetSuite solutions to address complex business challenges and drive tangible results for their clients.

NetSuite's Alliance Partner Spotlight Awards celebrate partners who have demonstrated outstanding success in implementing NetSuite and have showcased exemplary work with their customers. IBS Electronics' recognition underscores their dedication to delivering high-quality services and their deep expertise in utilizing NetSuite to its fullest potential.

About IBS Electronics

IBS Electronics is a renowned global electronic components distributor, catering to a diverse range of industries including aerospace, automotive, medical, telecommunications, and more. With over 35 years of experience, IBS Electronics has established itself as a trusted partner for sourcing high-quality electronic components, offering competitive pricing, efficient logistics, and exceptional customer service.

Challenges Faced

Prior to implementing NetSuite, IBS Electronics faced significant challenges with their legacy MRP system, which had been in use for over 20 years. The system's limitations included minimal support for integrations, lack of data validation capabilities, and a manual transactional process prone to user errors. Additionally, the company had no direct control over the system's interface, workflow, or reporting, leading to inefficiencies and operational hurdles.

The Solution

Recognizing the need for a modern, comprehensive solution, IBS Electronics chose NetSuite based on a recommendation from another Myers-Holum, Inc. customer in the electronics distribution space. The transition to NetSuite was a strategic move to overcome these challenges and empower the company with a robust platform capable of supporting its complex business model.

IBS Electronics implemented a range of NetSuite modules, including Advanced Billing, Advanced Financials, Advanced Inventory, Advanced Order Management, Advanced Procurement, and Multi-Book Accounting. To tailor the solution to their specific requirements, IBS Electronics partnered with Myers-Holum, Inc., a leading NetSuite implementation partner, for customizations and integrations.

"At Myers Holum, our collaboration with IBS Electronics, spearheaded by Alex Thompson and CEO Rob Tavi, demonstrated exceptional teamwork in optimizing business processes. We focused on extensive SuiteScript customization and tailored business process flows, resulting in unique business modules and substantial performance improvements.

The success of such development-heavy projects relies on robust in-house project management and NetSuite expertise, where Alex Thompson's contributions were invaluable. Furthermore, Rob Tavi's strategic foresight and commitment to investing in their ERP and technology stack were pivotal to our mutual success.

We're thankful for the opportunity to lead this transformative project and eagerly anticipate deepening our partnership with IBS Electronics as they continue to pursue growth and prosperity." - AJ Lacsamana

Myers-Holum, Inc.'s efforts focused on developing bespoke solutions to streamline processes and enhance efficiency. They optimized the Lead to Quote process, implemented a customized order allocation routing system, automated the Order to Cash workflow, and introduced a seamlessly integrated Custom Label Printing generator. Furthermore, Myers-Holum, Inc. designed a Custom Inbound/Outbound Quality Management Module and a bespoke 'RFQ Selection' module, demonstrating their commitment to delivering tailored solutions aligned with IBS Electronics' unique needs.

Customer Benefits and Success

Despite the complexity of the implementation process, IBS Electronics and Myers-Holum, Inc. collaborated closely to navigate challenges and ensure a successful outcome. The result is a stable system that empowers users with purposeful validations, reduces errors, and enhances traceability across operations. These enhancements represent the first phase of IBS Electronics' vision for a unified, data-driven ecosystem that fosters innovation and efficiency.

Looking Ahead

Looking ahead, IBS Electronics plans to further leverage NetSuite by integrating it with a data warehouse for intelligence reporting, proprietary sourcing and product lifecycle tools, their website, and their LLM for streamlining BOM & RFQ validation and processing.

Customer Testimonial

In reflecting on the benefits of working with NetSuite and their partners, IBS Electronics remarked, 

“NetSuite has given IBS Electronics an incredibly flexible platform that allows us to take advantage of all the data that flows through our business processes. Before NetSuite, this large data flow was something that had to be "managed". Now we can use this data to our advantage to make better decisions and be more competitive. Working with MHI, we were able to design a system that can efficiently process and scale with this ever-increasing data flow” - Alex Thompson

This recognition from Oracle NetSuite underscores IBS Electronics' dedication to leveraging technology to drive business transformation and deliver exceptional value to their clients. As they continue to innovate and expand their capabilities, IBS Electronics remains committed to delivering excellence in Wholesale Distribution through their partnership with NetSuite.

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