Consignment Inventory Tracking
What it does
This NetSuite customization enables tracking and management of consignment inventory, where goods are owned by a vendor but stored and used by the business.
It ensures accurate accounting, visibility, and control over consigned stock.
This is valuable for businesses looking to reduce working capital while maintaining inventory availability.
How it's built
The solution uses custom inventory ownership logic, location tracking, and financial rules to distinguish consigned inventory from owned inventory.
It supports consumption tracking and automatic recognition of ownership transfer when inventory is used or sold.
Key components
- Consignment inventory ownership tracking
- Separate valuation and accounting logic
- Consumption and ownership transfer rules
- Reporting on consigned vs owned inventory
- Integration with procurement and fulfillment
Before -> After
Before
Before implementation, consignment inventory is difficult to track accurately, leading to accounting and operational challenges.
After
After automation, consigned inventory is fully visible and properly accounted for, improving financial and operational control.
Explore more capabilities on the NetSuite Solutions hub or read about our customization services.