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Supplier Consignment in AUX
Posted on: May 21, 2024 | By: Meaghan Andrews | QAD Manufacturing, QAD Business Process
Summary
QAD provides out-of-the-box functionality to manage Supplier Consignment inventory that integrates all aspects of the process including Purchase Orders, receiving, tracking consigned inventory, usage reporting, and deferred voucher and payment until usage.
Supplier Consignment Setups
The following setup is required when using the Supplier Consignment module:
1. Enable the module in the Inventory section of the Base Control function.
2. For each Supplier and Item combination that is under a consignment agreement, create a record using the Supplier & Item Consignment Settings in AUX (formerly Supplier/Item Controls Maint 5.18.1 in NETUI).
Supplier Consignment Processing
1. Create a Purchase Order and flag the line as consigned. This will default from the Supplier & Item Consignment Settings record but can also be manually updated.
2. Receive the Purchase Order using standard QAD receipt functions. On a consigned order, the material is received into inventory, but no payables liability is created, and the inventory is not in the valuation or balance sheet. A CN-RCT transaction will be seen in the transaction history.
3. When the material is issued out of inventory, QAD will automatically perform the RCT-PO transaction to match the issuance, which also creates the AP liability. This is invisible to the user and requires no input on their part.
Supplier Consignment Reports
Below are reports in AUX that will help manage the consignment inventory process:
1. Supplier Consignment Usage Export
2. Aging Supplier Consigned Inventory by Item
3. Aging Supplier Consigned Inventory by Order
In summary, QAD provides the necessary functionality to seamlessly manage Supplier consigned inventory with minimal setup and maintenance.
Next Steps
If you are interested in learning more about Supplier Consignment in AUX, contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8817.
