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Consignment Inventory Management

Inventory management for consignment, resale, vendor malls, and thrift stores.

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Consignment Inventory Management
Consignment Inventory Management
Trusted by the best shops in resale
Local Source Coop
Selective Seconds
Vintage Vogue
Resort Resale
Paisley Park

What is consignment inventory?

Consignment inventory involves holding inventory on consignment—a supply chain model where a store commits to selling items on behalf of a consignee. In this arrangement, the store receives a percentage of the sale, along with potential additional fees for space rental until the items are sold. Implementing a well-defined consignment arrangement is crucial when dealing with consigned inventory.

How do you keep track of consignment inventory?

Consignment inventory is best tracked in a consignment inventory management system. SimpleConsign’s inventory management system offers functions and features that support the complexity of overseeing consignment-specific functions including consignment period, consignor splits, discounting, flexible payouts, inventory levels and tracking across locations, and more.

“I am finding that inventory management has become much simpler by integrating SimpleConsign into my business. Everyday activities like tagging, uploading photos to my website, processing items have become much more streamlined and take less time - which saves me $ and stress. I have over 600 consignors, and now I am able, at a click, to access their account, answer their questions, and truly understand their activity. I feel I have much more visibility to my business, and its health, as a result of partnering with SimpleConsign.

- Michelle M.

Why consignment stores choose SimpleConsign:

Why consignment stores choose SimpleConsign:

Store-Owner-Managing-Business-Remotely
Advanced reporting and analytics
Efficient-Inventory-Management-Consignment-Store
One-Software-To-Run-Your-Business
Simple automation of manual tasks

Save time and improve accuracy in accounting and inventory

Store-Owner-Managing-Business-Remotely
Advanced reporting and analytics

Know your business inside and out

Advanced reporting and analytics
Efficient inventory management

Manage your inventory costs, vendors, and consignors with less time and hassle

Efficient-Inventory-Management-Consignment-Store
One software to run your whole business

Oversee your point of sale, inventory, merchandising, and reporting all in one software

One-Software-To-Run-Your-Business
Cloud-Based for freedom and flexibility

Access your business, run reports, check inventory, and manage consignors from anywhere on any device. 

Want to experience SimpleConsign for yourself?

Experience our Professional Plan free for 15 days! Get started with inventory management for consigned, donated, store-owned, or wholsesale purchased inventory. 

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FAQ

What is consignment inventory management?

Consignment inventory management is the process of tracking and managing inventory on consignment. This model can also describe the management of inventory that is bought outright, donated, or resold in some capacity.

What is consignment software?

Consignment software is software that is designed to support the resale industry, including consignment, thrift, vendor malls, and resale stores. Consignment software often includes inventory management, point of sale (POS or VPOS), consignor payouts, integrated payments, virtual terminals, and can integrate with your POS system.

Is consignment inventory an asset?

Within a consignment arrangement in which a store takes inventory on consignment, that inventory is not considered an asset since ownership is not transferred until the actual sale. Consigned inventory item is considered a liability on the consignor’s books until it is sold to a third party. When it sells, the consignor and consignee will split the sale.

How does consignment inventory work?

Consignment inventory is a supply chain model common in the resale industry in which individuals or businesses will consign things they own but do not use anymore. Consigned inventory can run the gamut and includes items like handbags, clothing, furniture, vintage and antiques, art, jewelry, and more.

Who is responsible for inventory management in consignment?

The party responsible for inventory control and management in consignment is the consignee, who holds the property until it sells. Inventory management ensures that items for sale are in stock, on hand, and merchandised correctly. It is a best practice in consignment stores to run frequent inventory checks to manage shrinkage, discounts, and seasonal changes.

Can a consignment shop POS help with inventory management?

Yes, a consignment point of sale software can help with inventory management if it includes that functionality. For example, SimpleConsign is both a point of sale and inventory management system that consignment stores and resale businesses use to track, merchandise, and manage their consignment, store owned, vendor sourced, or donated inventory.