What is Consignment Inventory?
Consignment is inventory that is owned by the supplier, but is in the possession of the customer. The customer stores the supplier’s stock in their inventory, but does not purchase the stock until they consume or sell it. Customers can use or sell their suppliers’ stock directly from their warehouse.
Why Use Consignment Inventory?
As a supplier, using consignment inventory management saves you the cost of stocking your inventory. As a customer, you will not need to tie up your cash in your inventory since you will be purchasing stock as you consume it.
Reduce Write Offs
Improve Customer Service
Increase Turnover and Sales
How Clear Spider Can Help
The Clear Spider consignment inventory management function effortlessly manages inventories you own at your customers’ locations. With our system, you will retain ownership over your inventories and gain complete control over your consignment stock. You will be able to plan for replenishment, manage your inventories, and gain insight into consignment levels. Clear Spider can give your customers access to enter real-time information about receipts, adjustments, shipments, allocations, cycle-counts, and physical-counts. With these real-time updates, you won’t have to worry about where your stock is or how much stock you have stored at your customer locations. This results in maximized customer service while minimizing your stock-outs.
Consignment Inventory Features
Allocations are a soft reservation of an item generated by the creation of an outbound order, and does not restrict access to the item by other orders.
Our system checks each item marked for replenishment against the minimum, maximum, and reorder points. If items need to be replenished, a purchase order will automatically be created with the appropriate quantities to bring you back up to your desired stock levels.
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Do you have consigned inventory and an existing internal inventory management system? Don’t worry about it. Clear Spider can integrate with your existing inventory or ERP system.
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Inventory valuation gives you the visibility to see fluctuations in the pricing of your inventory. You will always know the value of your stock across your warehouses and at customer locations.
Periodic Usage Reports
Periodic Usage reports will show the daily, weekly, or monthly usage of your products over a specified period of time. These reports display the amount of stock consumed within a selected time period, allowing you to keep track of your inventory levels at your customer locations.
Our intuitive design makes it simple to track and manage your consigned inventory. Filter items based on location, store customer information in the system, and customize user permissions individually for each customer.
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Support of Multiple Inventories
No need to worry about having two or more inventory management systems – Clear Spider allows your company to handle both consignment and non-consignment inventories at your customer sites.