Achieving the best return for your excess, obsolete and EOL inventory is always a priority, especially if the material is still showing a high value in your accounts.
However, finding the right company, with the right systems and processes in place, to protect your stock and obtain the best return possible, can be a lot tougher than it may seem.
Furthermore, getting this wrong can not only have financial implications but it can affect your standing within the industry.
That's why we've created a simple 7 step consignment checklist to help you protect your stock, and gain a greater financial benefit.
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7 Step Consignment Checklist
Make sure the title remains with you until goods are sold. So in the event you need material for production at a later date, it is just a phone call away.
Ensure your independent electronic component inventory manager has a confidentiality agreement in place to protect your stock and your business.
To give you peace of mind the material should always be covered by the independent electronic component inventory manager, whilst stored in their warehouse.
All freight should be paid for by the independent electronic component inventory manager and you should never see any hidden charges when material is collected from your warehouse.
Make sure you receive monthly payments for material sold, so you are getting a constant cash flow into your business.
Check to see if they offer a web based access to sales and stock data relative to your material. This gives you all the information you would need 24/7.
Find out how your independent electronic component inventory manager markets your stock to potential customers.