Inventory Types

Consignment Inventory

This is inventory that is not owned outright by the store, but rather by consignors who agree to a consignment contract. That contract typically involves the store taking a split, charging a flat amount per month, charging a flat amount per item, or a combination. This encompasses a variety of store types including Consignment, Antique Malls, and Vendor/Dealer Malls.

Converted Inventory

Converted items are between consigned inventory and store owned inventory. The store receives the entirely of the sale, but doesn't have the attributes of store owned items.

Store Owned Inventory

When referring to store owned inventory it is specifically meant items which are entered on the inventory tab. Not items which are in a "House" consignment account.

These items can come into the store in a variety of ways, but when they sell the full amount always goes to the store. Retail, wholesale, and buy outright style stores will typically work with store owned inventory.

Vendor Inventory

Vendors in SimpleConsign do not refer to Antique Mall style Vendors or Dealers. Vendor here is closer to wholesale supplier.

Vendors can be assigned to both consigned and store owned inventory. They have no impact on split, fees, nor can they be paid out. Vendors can be used to note where retail, wholesale, or estate sale items originated so when it is time to reorder the vendor account can be referenced and a new order can be submitted.