Consignment and Reserve Stock

Consignment and reserve stock inventory has been asked many times by quite a number of customers especially those who are wholesaler providing consignment goods to retail stores. On recent enquiry, the customer is considering the warehouse management for consignment goods and customer’s reservation.

Here is their requirement:

1. Want to use the software as inventory management only

2. Consignment goods are taken out of inventory balance

3. Want to reflect customer reservation

4. Also need to process sales order to prepare for delivery

Here is how we can use Moneyworks to provide workaround for their warehouse operations:

1. Setup Moneyworks with all inventory items and units as usual

2. Use Quotation to make reservation

3. User Sales Order to process usual order, shipment and backorder 

4. Use Unposted Invoices as consignment goods

See below as a guide how the Item page would look like:

This is just an example of how we can have a work around depending on each individual customer situation. Software is fixed, but it is up to the experience of consultant to propose workaround and to make the software work for each individual operations.

Moneyworks is pre-approved package solution for Productivity Solutions Grant which allows Singapore SMEs to claim up to 70% of the qualifying cost for adopting digital solutions.

The above solution is using Moneyworks as an inventory solution making operations simple with the use of Moneyworks accounting solution.

If you are keen to automate or digitise your business, please feel free to contact us for a quick discussion at +65 6589 8878 now!

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