Managing Consignment Inventory

Follow these steps to add a consignment part to inventory:

1 Open the Inventory browse and highlight the consignment part record.

2 Select Modify Consignment from the Inventory Action menu. The Modify Consignment window opens. Enter the required information in the following fields:

By default, this check box is selected, indicating that the consignment part is vendor owned. If the vendor does not own the consignment part, clear this check box. If this check box is not selected, the Vendor No field is disabled.

If the consignment part is vendor owned, use the lookup to select the vendor.

3 Click OK to add the consignment part to inventory. The Consignment? check box on the part record is now selected, indicating that this part is a consignment part.

Follow these steps to issue a consignment part from inventory:

1 Open the Inventory browse and highlight the consignment part record.

2 Select Issue from the Inventory Action menu. The Issue Consignment Inventory window opens.

3 Enter the required information in the fields.

Note: The Issue Consignment Inventory window contains consignment-related fields, which are used for vendor information. This window also contains standard inventory-related fields. For definitions of those fields, see Issue Parts.

This check box, which only appears when issuing for consignment parts, indicates if the vendor or the company owns the consignment part. Select this check box to issue a vendor-owned consignment part.

If this consignment part is vendor owned, select the vendor who owns this part.

Using the information linked to the vendor specified in the Vendor field, this field displays the available OH quantity for the vendor-owned consignment part.

Displays the available on-hand quantity for the company-owned part.

4 Click OK to issue the part.

The procedure to return a consignment part to inventory is the same as returning an MRO part to inventory. See Return Parts to Inventory.

Follow these steps to relocate consignment parts to other locations and/or other sites:

1 Open the Inventory browse. Highlight the consignment part record and select Relocate from the Inventory Action menu. The Relocate window opens.

2 Enter the relocation information in the fields.

Note: The Relocate window contains consignment-related fields, which are used for vendor information. This window also contains standard inventory-related fields. For definitions of those fields, see Relocate Parts to Other Locations and Sites.

Select this check box to indicate that a vendor owns the consignment part. If this check box is cleared, the OH quantity is considered to be company owned.

If the consignment part is vendor owned, select the vendor that owns this part.

Using the information linked to the vendor specified in the Vendor field, this field displays the OH quantity of the vendor-owned consignment part.

3 Once you have entered the relocation information, click OK to relocate the part.

4 If you are relocating a part to another site, the system informs you that the part has been put in transit. If necessary, click Yes to print the inventory transfer document. To complete the relocation, receive the parts in the new site by performing the Receive from Relocation action.

Note: If you are relocating a part to another location in the same site, this message does not appear.

To receive a consignment part from relocation, see Receive Parts from Relocation.

Follow these steps to adjust the on-hand quantity for a consignment part:

1 Open the Inventory browse and highlight the consignment part record.

2 Select Adjust from the Inventory Action menu. The Adjust window opens.

3 Enter the required information in the fields.

Note: The Adjust window contains consignment-related fields, which are used for vendor information. This window also contains standard inventory-related fields. For definitions of those fields, see Adjust On-Hand Quantity of an MRO Part.

Select this check box to indicate that a vendor owns the consignment part. If this check box is cleared, the OH quantity is considered to be company owned.

If the consignment part is vendor owned, select the vendor that owns this part.

Using the information linked to the vendor specified in the Vendor field, this field displays the on-hand quantity of the vendor-owned consignment part.

4 Click OK to confirm.

The Modify Cost action allows you to change the cost of a part. When this action is performed, general ledger entries are generated based on the changes.

Note: Use this option only with approval from your Finance department.

Follow these steps to modify the cost of a consignment part:

1 Open the Inventory browse and highlight the part record.

2 Select Modify Cost from the Inventory Action menu. The Modify Cost window opens. Enter the required information in the following fields:

Select this check box if the vendor owns the consignment part.

If the Vendor Owned? check box is selected, the system populates this field with the primary vendor for this part. The vendor name is displayed below this field.

Enter the new cost of the consignment part in this field.

3 Click OK to accept the new cost.

Vendors can stock consignment parts at your company’s location and retain ownership until you use those parts. To help you monitor the consignment parts, EAM provides the Consignment Cost Stack submenu, which allows you to view the following:

• The quantity of consignment parts that are available for each vendor

• A part’s next-issue cost, which is based on FIFO, for each vendor

Note: This submenu is only available for parts where the Consignment? check box is selected.

Transfer Ownership of a Consignment Part to Company Owned

The Transfer Ownership action allows you to indicate another owner for the consigned part. Follow these steps to transfer ownership of a consignment part to company-owned:

1 Open the Inventory browse and highlight the part record.

2 Select Transfer Ownership from the Inventory Action menu. The Transfer Ownership window opens. Enter the relevant information in the following fields:

Use the drop-down list to select the vendor that owns the consignment part.

Displays the quantity of consignment parts that are on hand for the selected vendor.

Displays the quantity of parts on hand that the company owns.

Enter the quantity of consignment parts to transfer from vendor-owned to company-owned.