Consignment Inventory Management For Dummies

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Consignment Inventory Management For Dummies
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What Exactly is Consignment Inventory?
Consignment inventory is a supply chain strategy
where a retailer agrees to sell a product and
store it in a warehouse
In retail, all suppliers have products that they
believe will sell if they can be put in front of
consumers
Consignment sales underpin a big chunk of retail
sales in the States and around the world
Traditional retailers control the display of
products that consumers see
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Pros and Cons of Consignment Inventory
FOR THE SUPPLIER
FOR THE RETAILER
The retailer takes the relatively lower risk of
dedicating retail space to the unproven product
for a period of time. Physically store the goods
in a warehouse and absorb the costs of moving
them around
Suppliers are willing to climb out on a branch
and absorb the risks in selling their product.
They realise that in-store exposure and marketing
is critical for a new product
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Consignment sales work best for
Selling expensive products, think second-hand
handbags and cars
Trying new and unproven products in the market
Pushing existing products into new sales channel
Cutting out competition
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What You Need to Look Out For With Consignment
Inventory

• How long will the retailer hold the inventory for
  sale?
• How much will the goods be sold for?
• Who is liable if the stock gets damaged in the
  retailers store?
• How often will sold goods be invoiced? Monthly or
  quarterly?

You will conclude a consignment sales agreement
with a handshake and/or a hug
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Using Software to Manage Consignment Inventory
Free cloud-based order, purchase, and inventory
management software  called EMERGE App
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READ THE ENTIRE BLOG
https//emergeapp.net/sales/consignment-inventory-
management-for-dummies/
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Quick Video Tutorial to Get Started with
Consignment Inventory Management https//youtu.be/
JJoYmNwnSKI