Consignment sales arrangements help maximize total return on investment by expanding the time allotted to sell the excess inventory. Instead of quickly disposing of merchandise, this process allows the market to absorb the excess inventory, serving to enhance the total dollar value of the surplus inventory.
With consignment sales arrangements, North Shore Components carefully evaluates the customer’s list of excess inventory, and then categorizes the inventory based upon commodity type and potential liquidity. The customer and North Shore Components negotiate the consignment sales agreement, including a mutually acceptable revenue-sharing split.
The customer then assigns the inventory to North Shore Components, where the inventory is carefully reviewed, counted, and remarked or repacked, if necessary. The merchandise then goes into North Shore Components’ inventory management system, where it is carefully tracked. As surplus inventory is sold, the customer receives monthly payments and detailed reports. Benefits of consignment sales include:
- Maximum return on investment over time
- Reduced warehousing and administrative expenses
- Monthly sales commission checks
- Full transparency inventory and sales reporting, including monthly inventory updates and complete historical sales records
- Key information is at your fingertips, including quantity received, quantity in inventory, inventory sold, unit sales price, etc.
North Shore Components can customize this data to allow you to run revenue sharing data by specific part number as well as other reporting requirements.
Are you looking to free up valuable warehouse space? Then have North Shore Components manage the sale of your excess/surplus inventory. Contact us today about selling your excess inventory.
