Store Inventory Vs Consignor Inventory

Store-owned inventory usually refers to products that a retailer purchases from a supplier or manufacturer and owns outright. This type of inventory typically has a cost associated with it as well. We take this as intent to restock those items when they are at a 0 quantity. Thus, SimpleConsign allows for the restocking on 0 quantity items, never labeling them as “sold out.” If you do discontinue an item for whatever reason you can update the status of the SKU to one such as “Unavailable.”

Unavailable status many stores use to mark inventory that is in storage, off the showroom floor.

Consignor-owned inventory is owned by a supplier who consigns the products to a retailer for sale. These items were traditionally one-offs, items for resale, or finite in supply. This is why we have it where once a consignor’s items have reached a quantity of 0 the item will automatically be updated to a sold status and cannot typically be restocked. The exception to that is if you have the option to allow consignors to manage their own inventory in consignor access, they will be able to go to a Sold status item and update the quantity to what they would like.

Last updated