Consignment Stock

Adam_7542761

We are a distributor and are placing stock on consignment with our customers. What is the best way to handle this so that we know our total stock position and also where all the goods are located.

DFB

It depends upon your perspective of consignments stock. We are a distributor who place stock at a clients site. At the end of the month we count what is remaining and invoice them for what they have used. 
To manage this in the software, we  created a product item called "Consignment" and then duplicated the products that we placed on consignment, but made them a member of "Consignment". So you have the same product listed twice; one in normal inventory and one in "Consignment". We then use the "Adjust Quantity On Hand" to transfer stock from one location to the other. 
At the end of the month we invoice the customer from the "Consignment" stock, and then when we replenish their consignment holdings, we transfer the stock in the system to reflect the transfer.
If you have multiple customers that hold consignment stock, then you can make each customer a separate item, so that you build a hierarchy such as: 

Inventory -> Consignment -> Customer1 -> Part Number

Hope this helps.

Rav

Hi Adam,

We've also just published this KB article which may help - 
http://kb.reckon.com.au/issue_view.asp?ID=5491

Cheers
Rav