Abel ERP Inventory Management includes features that are especially for managing consignment stock. Consignment stock is stock held at a customer location awaiting sale or consumption.
Abel’s consignment stock sits within standard Abel workflows but with a special consignment line type to identify it. Consignment stock is held in both an inventory consignment ledger and a client consignment stock sub-ledger.
To issue consignment stock:
- Create a customer order (optional) using the consignment line type.
- Create a customer dispatch using the consignment line type. The dispatch takes the stock out of ‘normal’ stock and puts it into both the inventory consignment ledger and the client consignment stock sub-ledger.
To invoice consignment stock:
- Run the consignment stock report.
- Visit the customer and count the stock.
- Create a customer invoice for the difference between the report and the stock count. The invoice removes the stock from both the inventory consignment ledger and the client consignment stock sub-ledger and bills the customer.
To return consignment stock:
- Raise a customer return using the consignment line type. The customer return process removes the stock from both the inventory consignment ledger and the client consignment stock sub-ledger and puts it back into ‘normal’ stock.
Reports and Enquiries:
- The consignment stock report can be run by inventory or by customer.
- View consignment stock by customer in the Client Consignment Stock enquiry screen.
- The Consignment Stock Ledger screen provides a ledger view of consignment stock transactions.
That was a quick overview of Abel’s Consignment Stock functionality – a useful feature within Abel ERP inventory Management. To find out more about Abel’s functionality and how it can help your business, contact your Abel Consultant or an Abel Office.
Until next time.