{"id":9539,"date":"2022-08-16T08:02:43","date_gmt":"2022-08-16T08:02:43","guid":{"rendered":"https:\/\/www.mrpeasy.com\/blog\/?p=9539"},"modified":"2024-12-20T10:34:03","modified_gmt":"2024-12-20T10:34:03","slug":"managing-consignment-goods","status":"publish","type":"post","link":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/","title":{"rendered":"Managing Consignment Goods in MRPeasy"},"content":{"rendered":"\n<p>Consignment inventory is an inventory management and purchasing method wherein the goods procured from a vendor remain in the ownership of the supplier until they are sold or consumed. Here is how our US-authorized consultants Business Solution Providers, Inc. implemented consignment inventory for a client.<\/p>\n\n\n\n<!--more-->\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"575\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods-1024x575.jpg\" alt=\"Managing consignment goods\" class=\"wp-image-9540\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods-1024x575.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods-300x168.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods-768x431.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg 1498w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p><strong>About the Author<\/strong>: Denis Baldwin (denis@businesssp.com) is an MRPeasy Implementation Engineer with Business Solution Providers, Inc. (<a href=\"http:\/\/www.businesssp.com\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">www.businesssp.com<\/a>). For more creative solutions to your MRPeasy challenges, the team at BSP is here to help you!<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #343333;color:#343333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #343333;color:#343333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Consignment_inventory_and_the_business_case\" >Consignment inventory and the business case<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Some_caveats_to_consider\" >Some caveats to consider<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#A_few_settings_to_check_and_configure\" >A few settings to check and configure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Physically_and_technically_separating_the_inventory_flow\" >Physically and technically separating the inventory flow<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#The_linked_MRP_document_trail_acts_as_your_chain_of_custody\" >The linked MRP document trail acts as your chain of custody<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Lot_management_helps%E2%80%A6_a_lot\" >Lot management helps\u2026 a lot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Receiving_your_PO_in_full_to_your_new_stock_site\" >Receiving your PO, in full, to your new stock site<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Transfer_Orders_releasing_your_consigned_goods_to_be_consumed\" >Transfer Orders: releasing your consigned goods to be consumed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Invoicing_and_updating_the_PO_realizing_costs_the_moment_before_manufacturing\" >Invoicing and updating the PO, realizing costs the moment before manufacturing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Manufacturing_Order_commitment_incorporates_the_actual_cost\" >Manufacturing Order commitment incorporates the actual cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Review_the_Item_ReportsStock_History_to_see_the_chain_of_custody_and_costs_applied\" >Review the Item Reports\/Stock History to see the chain of custody and costs applied<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#Final_confirmation_audit_the_process_in_your_accounting_system\" >Final confirmation, audit the process in your accounting system<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consignment_inventory_and_the_business_case\"><\/span>Consignment inventory and the business case<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A client of ours,<em> Kerfkore (<\/em><a href=\"https:\/\/url.emailprotection.link\/?bLAcpS09heBT8cTXp4XEc1UfyoWwT_Vk7wpnkxeMclpn_F1k_RjWRQFA9mhKjE7PUiIa2Egta2DD6JGlL_1FKOg~~\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">www.kerfkore.com<\/a>), a manufacturer of architectural panels and other wood-formed goods, needed to manage consignment goods in their operation. While most of the items purchased by the client for manufacturing were purchased in traditional terms from vendors, one vendor offered open-ended consignment terms, allowing the client to pay for these goods as they were consumed, not as they were purchased. The benefits to cash flow were obvious to the client, but they were concerned about how holding this inventory, often in the tens of thousands of dollars, would throw their balance sheets into disarray. What would appear to be an asset as raw goods would actually be considered a liability (as the vendor still owns the consigned goods being stored in the client warehouses, and the client still owes the vendor for these goods). To complicate things further, these raw goods are sometimes purchased from other vendors, or from this vendor as cash upon receipt, so there needed to be a clear line between the various impacts these items could take financially.<\/p>\n\n\n\n<p>Consignment represents a unique problem for both accounting and inventory management, as the goods are not technically \u201cowned\u201d by the client, even though they are holding the inventory. This represents challenges both in inventory valuation and skews that inventory in terms of both potentially being an asset and a liability. Per the terms between the client and their vendor, these would be payable at the time of consumption. These are fairly fast-moving raw goods but the hold time between receipt and manufacture could vary wildly from a few days to a few months, depending on the volume of consignment stock received, and product demand \u2013 both in terms of manufacturing capacity (for build to stock) and customer demand.<\/p>\n\n\n\n<p>With the standard method of purchasing and accounting for goods in MRPeasy, the client would send out a purchase order for the expected cost of goods to the vendor, receive these items into inventory at the price paid, and carry the financial burden of these goods throughout their process. Because of this, goods that were not paid for would appear to affect both the value of goods on hand and the financial impact of paying for these goods.<\/p>\n\n\n\n<p>MRPeasy has no process for consignment built into the system yet, and this workaround is a bit cumbersome, but it does appear to accomplish the goal of separating financial impact from physical inventory.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_caveats_to_consider\"><\/span>Some caveats to consider<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can not have more than one item from the same consignment issuing vendor on a PO, or else the billing part will not work. i.e. you would not be able to receive several items in full quantity and then later invoice off just part of one item. All part numbers need to receive at least some quantity of each line item on the PO consumed at once or none. For this reason, we recommend one line item per purchase order for this process.<\/li>\n\n\n\n<li>Depending on your vendor, you may need to realize financial impact at different times, either at manufacture, at 30 days, at the end of a quarter, all at once (i.e. must consume all they sent at once interval, even if it\u2019s months later). These terms are different from vendor to vendor.<\/li>\n\n\n\n<li>If you do not change the item cost before manufacturing, it will skew your production costs lower than they actually are.<\/li>\n\n\n\n<li>YMMV, depending on how you do your accounting. We advise doing testing and auditing both MRPeasy and your accounting system between each step to see the financial impact and how it is recorded.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"A_few_settings_to_check_and_configure\"><\/span>A few settings to check and configure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For the purpose of separating this consigned inventory from the operational inventory, a second site was established as a \u201cvirtual hold location\u201d for these items. This location was used to receive the goods, specified as such on the purchase order. To accomplish this in MRPeasy, we needed to make a few changes in the software\u2019s System Settings:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>System Settings > Usability Settings > Multiple Stocks and Production Sites (set to yes).<\/li>\n\n\n\n<li>System Settings >\u00a0Software Settings > Several Invoices Per PO (set to yes).<\/li>\n\n\n\n<li>System Settings > Software Settings > \u201cseparate invoices and deliveries\u201d (set to yes).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Physically_and_technically_separating_the_inventory_flow\"><\/span>Physically and technically separating the inventory flow<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>How you sort and account for the management of your physical consigned goods in comparison to your self-owned inventory will depend on your space constraints and other factors, but it is important to note that these stock locations can be financially and logically\/systematically different but physically together, if necessary. With diligent lot tagging and carefully managing your stock lots, a physically constrained common area could work, but it is not advised. &nbsp;<\/p>\n\n\n\n<p>This does not mean you have to have a separate building, but having a separation of any kind two buildings, two rooms, two pallet spaces, and different color tape on the floor that signifies \u201cthis is consignment\u201d will go a long way in making this more manageable. Since only one vendor has consignment terms with this client, this made segregating these items easy by filtering only those vendor\u2019s items in the STOCK &gt; ITEMS view by the vendor:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"282\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem-1024x282.jpg\" alt=\"\" class=\"wp-image-9542\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem-1024x282.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem-300x83.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem-768x211.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem-1536x422.jpg 1536w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturingresourceplanningsystem.jpg 1880w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_linked_MRP_document_trail_acts_as_your_chain_of_custody\"><\/span>The linked MRP document trail acts as your chain of custody<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When requesting the goods from the vendor, the client sent out a purchase order to the vendor for the items, including the <a href=\"https:\/\/www.mrpeasy.com\/blog\/actual-costing\/\" target=\"_blank\" rel=\"noreferrer noopener\">actual costs<\/a> they would pay for the items after those items were consumed. The consignment virtual location was used as the receiving point on the purchase order.\u00a0This PO was saved and sent to the vendor and downloaded as an \u201cinternal PDF\u201d before saving. These Purchase Order hard copies are set aside by the purchasing agent and stamped \u201cconsigned, not paid\u201d so they could be processed further when the materials are consumed in manufacturing. If you want to double down on accountability, consider adding a custom field to the Purchase Order template of \u201cconsignment order (yes checkbox)\u201d so these could be filtered inline in the purchase orders view.<\/p>\n\n\n\n<p>Once the vendor acknowledged the purchase order, the purchasing agent edited the PO to bring the costs to $0.00 for the items purchased and saved the purchase order. The purchase order will remain this way, with zero cost for the goods ordered, until manufacturing is ready to begin.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lot_management_helps%E2%80%A6_a_lot\"><\/span>Lot management helps\u2026 a lot<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When the PO was saved, a lot was created (Lot L00232). This lot now showed the cost of the goods at $0.00 and stored in the consignment location. We use this lot tracking as a reference throughout this process as it shows us the cost associated at each step.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"398\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem-1024x398.jpg\" alt=\"\" class=\"wp-image-9544\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem-1024x398.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem-300x117.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem-768x299.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/LotL00232-Manufacturingresourceplanningsystem.jpg 1247w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">The Lot Detail Page for L00232<\/figcaption><\/figure>\n<\/div>\n\n\n<p>When the order is received from the vendor, it is stored with the lot number on the printed label and placed in the \u201chold-consignment\u201d part of the warehouse, a \u201cvirtual site\u201d within MRPeasy. In addition to the lot detail, we can also see in the stock history the assumed cost of the goods at this step and at each movement throughout the system.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"348\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1024x348.jpg\" alt=\"\" class=\"wp-image-9546\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1024x348.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-300x102.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-768x261.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1536x522.jpg 1536w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports.jpg 1874w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">The Stock Detail Report for item FB1297<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Receiving_your_PO_in_full_to_your_new_stock_site\"><\/span>Receiving your PO, in full, to your new stock site<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When the consignment order comes in, receive your goods as you would with any purchase order\/delivery receipt. Your receiving staff should confirm that the location (consignment site) on the Purchase Order matches the designated storage location for the consigned goods and a stock lot sticker is printed and affixed to the lot. Regardless of how many you will be using for production (and thus costing at that time), receive the entire lot to the consignment site at this time.<\/p>\n\n\n\n<p>A customer placed an order for the finished good \u201cFK200FB12\u201d later that day, which uses the two pieces of the \u201cFB1297\u201d consignment part to produce one finished good.&nbsp; As there is none of the raw material available in stock in the main storage area, 40 pieces will need to be transferred from consignment stock.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Transfer_Orders_releasing_your_consigned_goods_to_be_consumed\"><\/span>Transfer Orders: releasing your consigned goods to be consumed<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>At this time, a transfer order is created from the virtual consignment site to their manufacturing site. In the interest of only absorbing the costs for the amount of material to be consumed today (and thus invoiced to the vendor today) a transfer order of 40 units is made.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"328\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order-1024x328.jpg\" alt=\"\" class=\"wp-image-9548\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order-1024x328.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order-300x96.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order-768x246.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Create-a-new-transfer-order.jpg 1339w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>Creating this transfer order does a few things from a transaction logging perspective:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Setting \u201cfrom\u201d to the consignment location and \u201cto\u201d to the main storage area will create a Booking, a new lot, and a transfer order \u2013 3 stops in stock history that can be tracked, with the current cost of $0.00 for the items.<\/li>\n\n\n\n<li>The status of the transfer order will, after picking, be set to &#8220;shipped.&#8221; When these consigned goods are received in common stock, a designated person will set the status to \u201creceived\u201d, indicating that the chain of custody has moved forward.<\/li>\n\n\n\n<li>The previous lot (LO0232) still exists after the transfer, now 40 units less (250 originally allocated to consignment stock, now 210 remain). This can be verified by looking at the Lot detail:<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"473\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232-1024x473.jpg\" alt=\"\" class=\"wp-image-9550\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232-1024x473.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232-300x138.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232-768x355.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00232.jpg 1289w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>This action created a new lot number for the 40 units moved to the main stock, Lot L00233. The items were picked, both in the transfer order and physically in the warehouse, and moved to production staging. As you can see, at this point, the realized cost of the materials is still $0.00.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"413\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned-1024x413.jpg\" alt=\"\" class=\"wp-image-9552\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned-1024x413.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned-300x121.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned-768x310.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Lot-L00233-planned.jpg 1253w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Invoicing_and_updating_the_PO_realizing_costs_the_moment_before_manufacturing\"><\/span>Invoicing and updating the PO, realizing costs the moment before manufacturing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>After the transfer is complete, but before manufacturing orders are started, the purchasing department will make three financial-impacting steps to realize the true cost into operations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Update Previous Purchase Order<\/u><\/strong> &#8211; open the purchase order that previously had the costs at zero for the consignment items (PO00025) and update the cost at the line item for the consigned goods, now ready for consumption.<\/li>\n\n\n\n<li><strong><u>Create the Invoice<\/u><\/strong> &#8211; In the Purchase Order Record, create an associated invoice for 40 of the units. \u00a0This invoice will be made out for the actual price ($9.25 per unit) from the vendor. If there is no vendor invoice number known, I recommend putting the PO number and today\u2019s date as the invoice number (i.e.. PO00025-2022-08-10), as there will be more invoices tied to this purchase order in the future, as more of the consignment stock is consumed.<\/li>\n\n\n\n<li><strong><u>Make an associated payment<\/u><\/strong> &#8211; As the payment terms of the consignment agreement state that goods will be paid-for upon consumption, log a payment for the materials to be used. If there is variance\/potential waste in production for this raw material, you may want to save these documents but not cut checks or otherwise close these out until after manufacturing is finished for this lot of consigned materials.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Manufacturing_Order_commitment_incorporates_the_actual_cost\"><\/span>Manufacturing Order commitment incorporates the actual cost<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As the above purchasing tasks affected the financials but not the inventory physically, you will see no change in stock history to signify the costs being realized until manufacturing is completed. As the client had a need to produce 20 units of finished goods FK200FB12 (which contains our previously consigned FB1297), a manufacturing order is processed (MO00014) using 40 total units of FB1297 to produce 20 units of finished goods FK200FB12.<\/p>\n\n\n\n<p>The first indication is that the cost of the consigned items is now reflecting the actual cost. Look at the details in the bill of material. The line item for FB1297 will reflect the actual cost:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"358\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014-1024x358.jpg\" alt=\"\" class=\"wp-image-9554\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014-1024x358.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014-300x105.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014-768x269.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014-1536x538.jpg 1536w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Manufacturing-order-MO00014.jpg 1540w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Review_the_Item_ReportsStock_History_to_see_the_chain_of_custody_and_costs_applied\"><\/span>Review the Item Reports\/Stock History to see the chain of custody and costs applied<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"513\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1-1024x513.jpg\" alt=\"\" class=\"wp-image-9556\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1-1024x513.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1-300x150.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1-768x385.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1-1536x769.jpg 1536w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/Item-FB1297-Fiberboard-reports-1.jpg 1543w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Final_confirmation_audit_the_process_in_your_accounting_system\"><\/span>Final confirmation, audit the process in your accounting system<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To confirm that all costing was applied properly throughout the process, a review of the lots at each step and a stock report on the raw item was reviewed above. If you are using Quickbooks Online, the transactions can be seen at each step as well in the synchronization log between MRPeasy and QBO. Review that the proper accounts are being updated by this process in your accounting system.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"381\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report-1024x381.jpg\" alt=\"\" class=\"wp-image-9558\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report-1024x381.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report-300x111.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report-768x285.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/MRPeasy-accounting-report.jpg 1531w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>Before you \u201c<em>consign yourself<\/em>\u201d to not tracking your consigned goods properly in MRPeasy, give this workaround a try. If you need help, consider reaching out for a free review of your needs. Hourly and full project MRPeasy Implementation support, training, integrations, and more are available from the team at <a href=\"http:\/\/www.businesssp.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Business Solution Providers<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consignment inventory is an inventory management and purchasing method wherein the goods procured from a vendor remain in the ownership of the supplier until they are sold or consumed. Here is how our US-authorized consultants Business Solution Providers, Inc. implemented consignment inventory for a client.<\/p>\n","protected":false},"author":4,"featured_media":9540,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,91,96,94],"tags":[1172,50,4],"class_list":["post-9539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study","category-implementation","category-inventory","category-tips","tag-consignment-goods","tag-inventory-management","tag-manufacturing-software"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Managing Consignment Goods in MRPeasy<\/title>\n<meta name=\"description\" content=\"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Managing Consignment Goods in MRPeasy\" \/>\n<meta property=\"og:description\" content=\"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog for Manufacturers and Distributors\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-16T08:02:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-20T10:34:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1498\" \/>\n\t<meta property=\"og:image:height\" content=\"841\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Karl Heinrich Lauri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Karl Heinrich Lauri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\"},\"author\":{\"name\":\"Karl Heinrich Lauri\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254\"},\"headline\":\"Managing Consignment Goods in MRPeasy\",\"datePublished\":\"2022-08-16T08:02:43+00:00\",\"dateModified\":\"2024-12-20T10:34:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\"},\"wordCount\":2128,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\",\"keywords\":[\"consignment goods\",\"inventory management\",\"manufacturing software\"],\"articleSection\":[\"Case Studies\",\"Implementation\",\"Inventory\",\"Manufacturing Tips\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\",\"name\":\"Managing Consignment Goods in MRPeasy\",\"isPartOf\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\",\"datePublished\":\"2022-08-16T08:02:43+00:00\",\"dateModified\":\"2024-12-20T10:34:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254\"},\"description\":\"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\",\"contentUrl\":\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg\",\"width\":1498,\"height\":841,\"caption\":\"Managing consignment inventory\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.mrpeasy.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Managing Consignment Goods in MRPeasy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#website\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/\",\"name\":\"Blog for Manufacturers and Distributors\",\"description\":\"MRPeasy\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.mrpeasy.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254\",\"name\":\"Karl Heinrich Lauri\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9bfbd724fcc3682ea1ca8376247ce950e92810c2fc786ac129ef4a8e3ba6bcac?s=96&d=blank&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9bfbd724fcc3682ea1ca8376247ce950e92810c2fc786ac129ef4a8e3ba6bcac?s=96&d=blank&r=g\",\"caption\":\"Karl Heinrich Lauri\"},\"description\":\"For more than 7 years, Karl has been working at MRPeasy with the main goal of getting useful information out to small manufacturers and distributors. He enjoys working with other industry specialists to add real-life insights into his articles, with a special focus on using the feedback from manufacturers implementing MRP software. Karl has also collaborated with respected publications in the manufacturing field, including IndustryWeek and FoodLogistics.\",\"url\":\"https:\/\/www.mrpeasy.com\/blog\/author\/karl-h\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Managing Consignment Goods in MRPeasy","description":"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/","og_locale":"en_US","og_type":"article","og_title":"Managing Consignment Goods in MRPeasy","og_description":"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.","og_url":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/","og_site_name":"Blog for Manufacturers and Distributors","article_published_time":"2022-08-16T08:02:43+00:00","article_modified_time":"2024-12-20T10:34:03+00:00","og_image":[{"width":1498,"height":841,"url":"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg","type":"image\/jpeg"}],"author":"Karl Heinrich Lauri","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Karl Heinrich Lauri","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#article","isPartOf":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/"},"author":{"name":"Karl Heinrich Lauri","@id":"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254"},"headline":"Managing Consignment Goods in MRPeasy","datePublished":"2022-08-16T08:02:43+00:00","dateModified":"2024-12-20T10:34:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/"},"wordCount":2128,"commentCount":0,"image":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage"},"thumbnailUrl":"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg","keywords":["consignment goods","inventory management","manufacturing software"],"articleSection":["Case Studies","Implementation","Inventory","Manufacturing Tips"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/","url":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/","name":"Managing Consignment Goods in MRPeasy","isPartOf":{"@id":"https:\/\/www.mrpeasy.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage"},"image":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage"},"thumbnailUrl":"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg","datePublished":"2022-08-16T08:02:43+00:00","dateModified":"2024-12-20T10:34:03+00:00","author":{"@id":"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254"},"description":"Consignment inventory is an inventory management method where procured goods remain in the ownership of the supplier until consumed or sold.","breadcrumb":{"@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#primaryimage","url":"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg","contentUrl":"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2022\/08\/managing-consignment-goods.jpg","width":1498,"height":841,"caption":"Managing consignment inventory"},{"@type":"BreadcrumbList","@id":"https:\/\/www.mrpeasy.com\/blog\/managing-consignment-goods\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.mrpeasy.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Managing Consignment Goods in MRPeasy"}]},{"@type":"WebSite","@id":"https:\/\/www.mrpeasy.com\/blog\/#website","url":"https:\/\/www.mrpeasy.com\/blog\/","name":"Blog for Manufacturers and Distributors","description":"MRPeasy","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.mrpeasy.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/9f3fc21487b8bd06ee559963df65c254","name":"Karl Heinrich Lauri","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.mrpeasy.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9bfbd724fcc3682ea1ca8376247ce950e92810c2fc786ac129ef4a8e3ba6bcac?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9bfbd724fcc3682ea1ca8376247ce950e92810c2fc786ac129ef4a8e3ba6bcac?s=96&d=blank&r=g","caption":"Karl Heinrich Lauri"},"description":"For more than 7 years, Karl has been working at MRPeasy with the main goal of getting useful information out to small manufacturers and distributors. He enjoys working with other industry specialists to add real-life insights into his articles, with a special focus on using the feedback from manufacturers implementing MRP software. Karl has also collaborated with respected publications in the manufacturing field, including IndustryWeek and FoodLogistics.","url":"https:\/\/www.mrpeasy.com\/blog\/author\/karl-h\/"}]}},"_links":{"self":[{"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/posts\/9539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/comments?post=9539"}],"version-history":[{"count":7,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/posts\/9539\/revisions"}],"predecessor-version":[{"id":18467,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/posts\/9539\/revisions\/18467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/media\/9540"}],"wp:attachment":[{"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/media?parent=9539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/categories?post=9539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mrpeasy.com\/blog\/wp-json\/wp\/v2\/tags?post=9539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}