Inventory, inventory everywhere, not a clue what to do. From overstock to understock to keeping track of shipping containers, managing inventory is no easy task. That being said, organizations with a solid ERP platform have access to a great deal of options to help stay in control of inventory.
Generally, companies have their inventory shipped to their warehouses where they ultimately deliver those to consumers or businesses. However, there are a select number of organizations that choose another path.
Some businesses keep certain goods and products at their customers’ sites rather than their own. For example, a business specializing in Bluetooth headphones who sells to mega-corporations like Staples and Walmart, will have products at their warehouses.
This is called consignment stock management. Keep on reading to discover what this is and why businesses follow this direction.
No matter what, there will always be pros and cons to all decisions. A rule of thumb is to find a partnership that works for both parties, from profitability to simplicity. This is not the time for complex contracts.
Our team of experts are available to answer any questions you may have about Epicor, Prophet 21, and Consignment Stock Management.
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