Description
This article describes the recommended procedure for Consignment Stock, asset tracking and Loan stock.
The system uses bin locations to store the stock under the hirer's name, but as you still own the stock, it remains in your stock list until it is written off or sold.
This system does not provide hire cost calculations for invoicing however you can review how long the customer/staff/loaner has had the stock via the Stock history form and filtering to bin history for a date period.
Detail Steps
Normal inventory items can be transferred; however, in some cases, such as company internal asset management cars, phones etc., items will need to be created. Our suggested methods are below.
Setup
A Location should be created for loan outs, consignments or Assets (Or all Three).
Bins should be created for customers, Staff, hirers and in these locations.
For assets
Create non-inventory items in MYOB.
Items to be named as the product, for example, Cars.
After replication, turn on I inventory in the WMS and Batch Tracking.
Add inventory via stock adjustments - Batch to be named as asset number and - "Hyphen" then short description if required.
Loan Stock
Customer places loan order.
Stock is transferred from the Main Warehouse location to the Loan Location and into the specific customer's bin.
*At any time, a complete bin listing with a Stock report can be produced so you can see all loan stock that is out for that customer or all customers. Reports, Stock, Stock List By Bin.
Customer Returns Stock.
Stock can be transferred directly back into the main location in the * bin or a servicing bin in the loan location for checking before returning to stock.
Invoice customer the non-inventory service and loan codes for the loan fees and charges.
Consignment Stock
Customer places Consignment order.
Stock is transferred from the Main Warehouse location to the Loan Location and into the specific customer's bin.
*At any time, a complete bin listing with a Stock report can be produced so you can see all loan stock that is out for that customer or all customers. Reports, Stock, Stock List By Bin.
Customer Returns Stock
Stock can be transferred directly back into the main location in the * bin or a servicing bin in the loan location for checking before returning to stock.
Invoice customer the non-inventory service and loan codes for the loan fees and charges.
Customer Sells Stock
Sell through the report is received.
Invoice customer picking stock directly from their bin, thus reducing their consignment stock level.
Asset Management
* As per loan stock, transfer assets to staff members (bins) and back into the main (*) bin on return generally no charges to a staff member.
Staff requests Asset.
An asset is purchase and entered into the company asset register and put into stock.
Stock is transferred from the Main Warehouse location to the Loan Location and into the specific Staff members bin.
*At any time, a complete bin listing with a Stock report can be produced so you can see all loan stock that is out for that Staff or all staff. Reports, Stock, Stock List By Bin.
Staff Returns item.
Stock can be transferred directly back into the main location in the * bin or a servicing bin in the loan location for checking before returning to stock.