WBSP440: Grow Your Business by Learning Consignment Inventory Best Practices, a Live Interview w/ a Panel of Experts
Consigned inventory could be a great strategy for startups trying to get space in retailers' warehouses. It could also be a great strategy for distributors and retailers to carry an inventory of unfamiliar brands without committing too much capital. But consigned inventory complicates the business processes for all parties involved. So what are the best practices when it comes to incorporating consigned inventory as part of the business model?
In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss Consignment Inventory best practices. We discussed the differences between consignment and borrowing. And how the inventory will be treated in each vendor’s and customers’ ERP systems. Finally, we discussed the issues related to international consignment, along with several fun stories.
For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe to your favorite podcasting platform.