To push your product into retail store shelf space, many distributors consign products to the retailer, collecting payment after the inventory has sold. The advantage of doing this is the retailer has a low upfront investment typically determined as a pricing arrangement with the distributor to cover lost or stolen products. This makes keeping track of merchandise for each store imperative and could potentially add additional cost to a distributor with managing the consignment process. You need a user-friendly system to handle consignment inventory.
Most accounting/inventory systems don't handle consignment inventory very well because of the nature of the consignment transaction. The product doesn't change ownership at the time of the delivery and requires a manual process to track what each store has, which takes a lot of time and creates opportunities for error. If this process isn't monitored, it can make reconciling your consignment inventory a nightmare.
bMobile Consignment makes it easy for a delivery driver to drop a consignment transaction, easily see at the next scheduled stop for that customer what was left and simply count the remaining items that are on the shelf. The software will automatically calculate what has been sold based on the count and an AR/Invoice transaction is created.
Using specific build-ups and par levels for each store will allow the driver to see what quantities to pick off their truck to process another consignment transaction. All this detail is part of the data communicated back to the office via the bMobile sync. Admin users can run reports for each consignment store, understand how many items each store should have and make accurate business decisions.
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