![]() Usually, the terms and conditions will contain details such as: ![]() ![]() You’ll then design a contract explaining both partners’ responsibilities and liabilities. You and your prospective partner have agreed to embark on this endeavor. This is a scenario in which having stock on consignment could benefit you.įirst things first, you need to establish a strong relationship with a potential consignee who’ll be willing to stock your inventory. Maybe you’re a new manufacturer and unsure how your product will be received in the marketplace, but you have a gut feeling that it will do well. The process of consignment inventory management In this article, we’ll look into what is consignment inventory stock and how you can leverage it within your business’s workflow. Consignment inventory allows you to retain ownership of your products while a merchant advertises and sells them on your behalf. Luckily for you, there exists another avenue to take - which is selling your goods via consignment inventory.Įven better news for you, this isn’t a tactic in which you hand over all your rights to some corporate giant (one who slowly excludes you as they engulf your product and life’s work). But you’re confident that your products will fly off the shelves once customers know about them. Even though you’re only trying via one sales channel, it’s not been going as successfully as you had hoped - mostly because you compete with companies selling products that are already well-established. You’re proud of your accomplishments and try to push your brilliance onto the world. You’ve put blood, sweat, and tears into a product (metaphorically speaking, but perhaps literally). ![]()
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