Consigned Inventory Management

The Consigned Inventory Management feature enables you to track inventory levels and costs of vendor consigned items. These include regular inventory items, along with any lot or serialized ones, that you purchase, receive, stock, transfer, and sell from your location. Vendor consigned items have item records enabled with the Allow Vendor Consignment setting. Consigned item quantities are assigned a specific consigned inventory status. You can choose whether to store and track them in bins.

You can use adjustments, returns, and counts to ensure accurate levels of stored items. You can monitor inventory movement within or between locations, demand, and replenishment to maintain adequate levels of each consigned item.

Depending on other features that you may use, you can also track the following:

• quantities for lot or serialized items

• consigned items on purchase contracts

• counted items stored in a location

• picking, packing, and shipping of orders in item fulfillments

• reorders, backorders, and replenishment, with or without demand planning or supply allocation

From the Consignment Purchases workbook, you can monitor inventory levels and processing of items across the purchasing and billing flows. Enhanced integration among procurement, sales, and fulfillment flows ensure that you pay for consigned items only when sold, with automatic transfer of ownership.

Limitations for Consigned Inventory Management

Note the following limitations for vendor consigned inventory:

Important:

If you use the Brazil Localization SuiteApp, contact your account manager to verify any customization requirements before you enable Consigned Inventory Management.

• Assembly item types are not supported. The Consigned Inventory Management feature can't be enabled if you use the Assembly Items feature, and vice versa.

• Manufacturing workflows, processes, and related features are not supported.

• Consigned Inventory Management can't be used together with the Warehouse Management feature or NetSuite WMS SuiteApp.

• You can't add vendor consigned items to the following transactions associated with features that you may use for non-consigned items.

  • Inventory Transfer and Bin Transfer

  • Inventory Worksheet

  • Standalone Vendor Bill

  • Standalone Vendor Return Authorization

  • Cash Refund

  • Credit Memo and Standalone Credit Memo

  • Blanket Purchase Order

  • Inbound Shipment

• Changing the inventory status of items from consigned to non-consigned, and vice versa, is not supported.

• For other limitations, see the following topics:

  • Limitations on Purchasing and Receiving Consigned Items

  • Fulfilling Orders for Consigned Inventory

To set up Consigned Inventory Management, see Consigned Inventory Management Setup.

Tracking Consigned Quantities and Values

On the Consigned Inventory subtab of item records, you can view separate on-hand quantities and values for vendor consigned and non-consigned inventory. Additional columns show average cost amounts for items that use this costing method. These average cost columns show a zero value for other costing methods.

Refer to the following additional columns, with the (Consigned) label, for vendor consigned inventory:

• Quantity On Hand (Consigned)

• Value (Consigned)

• Average Cost (Consigned)

The following columns that have the (All Inventory) label show the corresponding totals for both consigned and non-consigned inventory:

• Quantity On Hand (All Inventory)

• Value (All Inventory)

• Average Cost (All Inventory)

Depending on features you use, you can view the following quantities or values on item records:

• If you have multiple locations, you can view quantities, values, and costs per location.

  If you use the Advanced Item Location Configuration feature, the Consigned Inventory subtab is no longer displayed. On the Locations subtab under Purchasing/Inventory, you can select the Consigned Inventory view to display these details.

• You can view quantities in bins on the Inventory Details subtab. You can identify consigned quantities of an item through the inventory status.

  If you have lot items, you can also view the consigned inventory details for each lot number.

Orders and other inventory transactions may contain either or both consigned and non-consigned items. For example, purchase contracts can have either consigned items only or non-consigned items only.

You can view reports and workbooks for supported transactions to track consigned inventory levels.

Consigned Items in Bins

Though bins are not required, you can enable bins for items that you set up for vendor consigned inventory. You can assign vendor consigned items to bins when you create supported transactions or related records. By default, you can add consigned items into bins that contain non-consigned items. If you create separate bins for consigned items, be sure to assign labels that distinguish them from other bins. To set up bins, see Creating Bin Records and Setting Up Item Records for Bins.

To review the limitations for bin use, see Limitations for Consigned Inventory Management.

General Notices