QAD CONSIGNMENT INVENTORY
Managing consignment inventory can be tricky, since the same part may have both a consigned and a non-consigned quantity. To address this challenge, QAD Cloud Consignment Inventory helps to manage inventory consigned to your company by one or more suppliers, as well as inventory that your company has consigned to its customers.
QAD Consignment Inventory simplifies consignment by accurately tracking both types of consignment inventory in non-consigned quantities and locations. When inventory that has been consigned by a supplier is either used or sold, QAD Consignment Inventory notifies accounting to initiate the payment process. In addition, QAD Consignment Inventory tracks the aging of all inventory assigned to a customer and notifies planners of any consigned inventory that has aged beyond accepted parameters.
VALUE AND BENEFITS
Automatically track all supplier consigned inventory. Keep track of both consigned and unconsigned inventories easily regardless of location or age.
Automatically initiate payments. Notifies accounting to initiate payments when you use or sell supplier consigned inventory.
Manages consignment locations. Tracks consignment locations automatically to help segregate consigned from non-consigned inventory.
Maintains consigned inventory visibility. Improves physical inventory and cycle counting efficiency and effectiveness by making usage and on hand quantiries visible.
Simplifies accounting processes. Automatically uses the right General Ledger accounts for consignment inventories without requiring user intereaction.
Calculates tax rates. Automatically calculates taxes due or payable based on consigned inventory settings setup in the General Ledger.
- Tracks inventory in consignment locations
- Mixes and tracks consignment and nonconsignment materials on orders
- Maintains visibility of consigned inventory for physical inventory and cycle counts
- Enables consignment-specific general ledger accounts
- Able to trace aging dates of consigned material through reports and inquiries
- Determine tax point for consigned inventory based on settings in the associated tax rate
- Manual or automatic usage reporting for customer consigned inventory
- Defers ownership of consigned material for supplier consigned inventory
- Plan, order, ship, track and report customerconsigned material while deferring invoicing and accounts receivable transactions
- Automatically generates standard invoicing transactions on customer usage notification
- Supports Vendor Managed Inventory (VMI)
- Retain ownership and track usage of consigned inventory at customer sites
- Identifies consigned material immediately on receipt from suppliers as consigned by suppliers