Odoo ERP is a single software platform that allows manufacturing firms to centrally manage the supply chain, warehouse, inventory, workforce, HR, CRM, eCommerce, accounting, and finance. With a low implementation cost and customizable features, Odoo ERP is the perfect business management tool for large businesses and SMEs. Integrating Odoo’s consignment management application allows sellers to supervise consignment operations and manage all transactions with the consignee.
At Oodles, our Odoo application development services include on-demand integration with the Odoo consignment management app to supervise consignment stock processes. At the same time, our Odoo customization services ensure that you have the right tools at your disposal for better operational efficiency.
Consignment Management Explained
Consignment is an arrangement in which a business(consignee), agrees to pay a seller, or a consignor, for merchandise after the item sale. In consignment circles, the seller who supplies the product to the retail store is known as a consignor. The buyer, who is the store owner or merchant, is called a consignee. The business accepts items purchasable and agrees to pay the vendor a percentage of the proceeds if and when the products sell. It is an agreement between an owner and a third-party entity called consignee who agrees to sell the owner's items in exchange for a fee. Its major disadvantage is that a business owner will depend on the sellers to provide a steady stream of inventory management. Another disadvantage to sellers is earning less than directly selling to the buyers online.
Let us Configure Consignment Management in Odoo,
Navigate to:- Inventory -> Configuration ->
Settings -> Traceability, Enable Consignment
To Create a receipt for Consignment Stock,
Inventory -> Receipts, and open the receipt.
Here you can assign an owner to the receipt. Just choose an owner and click on the Assign Owner button. If you want to set the owner on individual products, you can assign it through Detailed Operations Lines.
Now you can view all the details about the consignee stock from Inventory Overview. Navigate to:-
Inventory -> Reporting -> Inventory Report
Choose the Owner from the group by dropdown.
Here you can see the quantity details in the inventory overview and the consignee stock will not reflect in the current inventory of odoo.
Here, The quantity of products is 30 as the owner of the other 5 quantities of this product is a different person. Therefore it is not reflected in the current inventory of odoo.
You can also create sales orders for consignee stocks. While validating a delivery order, the user can select the owner. If selected, the stock will be delivered from the chosen consignee stock, and will not affect the current inventory of Odoo.
That's how Consignment management works in Odoo.
We are an ERP Development company with expertise in developing customized software solutions for our clients. Our custom development solutions enable businesses to automate, plan, collaborate, and execute their operations methodically. Once configured, Odoo Consignment Management streamlines all transactions with consignees and is easy to use. Get in touch with our ERP development team to configure Odoo Consignment Management into a customized ERP software.