IT Services & Solutions Blog

What it Takes to Relieve the Consignment Inventory Management Headache

If you’ve been a finance, inventory AR, or sales manager for any length of time, you already know there aren’t any quick fixes to managing trunk stock and consignment inventory once it’s left your hands. “Intelligent” business applications and systems like ERP and CIM aren’t so intelligent when it comes to ensuring that consignment inventory is properly routed, monitored and tracked as they all require some tweaking to get it right.

Workarounds are common with these systems, and we won’t even get into the manual and paper-based processes and their contribution to errors as well as longer and inaccurate order to cash (OTC) cycles. At the heart of these problems are the unpredictable human factor and the things left unaddressed in consignment agreements. Ultimately, profit and inventory loss become a problem that grows over time without a holistic inventory management approach shaped by detailed and thorough risk management.

Rather than tackling the problem in a piecemeal fashion that often results in more problems, it’s much better to have a detailed plan that takes a holistic approach to inventory management. At Solugenix, we’ve dealt with countless businesses across healthcare, retail and other sectors where consignment inventory processes required visibility, control and transparency for both suppliers and their customers.

Rather than leaving you to gather answers and solutions one at a time without any connection to how it all fits together, we’ve created a new eBook entitled Managing Your Junk in the Trunk: Effectively Managing Your Consignment-Based Inventory. This eBook addresses your pain points with consignment inventory management and takes you through the solutions in a unified way. This includes the following:

  • The Specifics of Drafting a Strong Consignment Agreement
  • Accurate Consignment Item tracking
  • Developing a Sound Pricing and Reconciliation Strategy
  • Eliminating Manual Processes Through ERP and CIM integration

 

You already know there is no magic bullet to consignment inventory management that can maximize the many potential benefits it can bring while lowering the possibility of fallout from poor risk management. This eBook can provide the foundation for reaching your goals of low risk and high benefit potential realization in ways that you can build on without reinventing the wheel.

To get your copy of Managing Your Junk in the Trunk: Effectively Managing Your Consignment-Based Inventory, just follow the link below or ask a Solugenix expert by calling 1-866-749-7658.

Link: https://resources.solugenix.com/managing_consignment_effectively

 

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