Expanded Vendor Consignment Feature

In keeping with a global supply chain environment, the vendor consignment feature has been expanded to provide you more control of vendor consignment inventory. Previously, PowerShift assumed that the vendor controlled when new stock was sent, but now consignment items can be tracked through the procurement process, providing better visibility of anticipated supply.

When consignment goods arrive, they are received like a purchase order -- except that received stock is accumulated to the consignment inventory balance. There is no associated general ledger or accounts payable update since consignment inventory remains the property of the vendor supplying it until it is "used" (e.g., moved to on-hand or picked to a manufacturing order).

Moving the stock from consignment can be done manually or it can be connected to a manufacturing order pick that requires more stock than is available. Consignment stock usage triggers the creation of a purchase order and receiver for the goods consumed so that a payment to the vendor can be processed.

Valuation reports are available (especially useful if you are required to carry the loss insurance for the consignment stock).

The expanded vendor consignment feature was made available in a recent PowerShift update (4.10.020). For more information, contact the Qantel Helpdesk or call us at 630.300.6999.