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Supplier Consignments

Last updated 13/02/2019

If you store stock on consignment from your suppliers, you will use the Supplier Consignments Module. This article explains how to create a Supplier Consignment, then purchase back any goods that you have sold.

Overview


Supplier Consignment stock is stock that you keep on your premises that you do not own - on condition that you will purchase the stock after sale.

The supplier Consignments module is not switched on by default - if you require the use of this module, send a ticket to the Support Team or your Onboarding Specialist who will organise this for you.

Make sure that each product has a Preferred Supplier set against it in the product settings.

Creating a Consignment


To create a supplier consignment:

  1. From the Left Navigation, select Purchases then click Supplier Consignments
  2. Click New Supplier Consignment
  3. Enter the supplier details in the top section of the transaction
  4. Enter the products in the grid below
  5. Approve the transaction, and email to the supplier if required from the Admin screen

When stock arrives from the supplier:

  1. Search for the consignment from the Supplier Consignment module
  2. Click on the Transaction Reference to edit the Supplier Consignment
  3. Enter a Fully Received Date to bring the products into stock
  4. Note that though the products will appear in your SOH, they will not be counted as stock that you own

Purchasing Consignment Stock based on Sales


If you sell any of your consignment stock, you will need to purchase that stock from your supplier. This typically happens at the end of each week or month, depending on the agreement with your supplier.

Cin7 can calculate what you need to purchase based on what you have sold - this makes it very easy to create Purchase Orders quickly.

To make a purchase:

    1. From the Left Navigation, select Purchases, then Supplier Consignment
    2. Click on New Supplier Consignment
    3. Enter the supplier details in the top section of the transaction
    4. Enter the products in the grid below
    5. Approve the transaction
    6. Whilst in the Admin page, hover over Actions, then Create Purchase Order from Consignment
    7. Enter quantity amount or click Select All to autofill quantity
    8. If transferring stock into a current Purchase Order is required, enter a Purchase Order reference into the Transfer Into Ref
    9. Click Create Purchase Order from Sales Order once the order is ready for processing - This will create a Purchase Order or stock would be transferred if Transfer Into Ref option is used.
    10. Review the Purchase Order and confirm before Approving.
You should not receive new stock back into the system so make sure the Qty Received column is not populated

Note that once you have created a Purchase for a supplier, this is also recorded for you reference with the Supplier Consignment.

Once all goods from a consignment have been sold and purchased, it is possible to enter a Completed Date in the Supplier Consignment to remove it from the Open Consignments module.

FAQS

 

Is it possible to make a Branch Transfer of Supplier Consignment stock?

Yes, Consignment stock can be transferred just like normal stock.

Should I count my consignment stock when I do a stocktake?

Because you don't own this stock, you should avoid counting consignment stock when doing a stocktake. Entering counts for these products will adjust in additional stock as if you own them already.