6 Best Practices to Win with Consigned Inventory
Forward-thinking distributors are using consignment inventory to ensure their top customers are stocked with the inventory they need – when they need it.
Consigned inventory is stocked and managed at a customer site such as a warehouse, stockroom or jobsite instead of a distributor’s own warehouse, and the distributor does not take payment for it until it is pulled from stock at the customer site.
For distributors, consigned inventory can be a profitable strategy when coupled with the right technology for tracking usage. This is the type of partnership that distributors can initiate with their top income-generating customers. It can be a critical tool in their arsenal to retain and grow business with these customers.
eTurns CEO Rock Rockwell weights in on 6 best practices to follow for consigned inventory in this guest post for Industrial Distribution.