Raw material consignment

OK, I understand. That is what we would call customer supplied material.
What we call consignment material is the supplier sends us material and it is located on our site and we do not pay for it until we consume it.



Dean Mortera <dean.mortera@...> wrote:
We issue the material to the job, taken with it burden costs and relieving inventory. We don't pay for our consigned material, since it was given to us by the customer.

Posted by: "Lou Laird" loulrd@... loulrd
Tue Oct 17, 2006 5:51 pm (PST)
I understand, sound simple.
When you consume the material how do you pay for it and relieve inventory?

Dean <dean.mortera@...> wrote:
Lou,

What we did here is create a seperate consigned warehouse, with all
consigned raw material going into this warehouse with zero costs. When
the material comes in a PO is created on the fly with zero costs,
however this PO is not closed. When more material comes in during the
year we keeping adding to the qty of the PO. So at the end of the year
we can final close the PO and have a count of what came in. We also
use the reference field when receiving the material to refer to the
heat lot #. Hope this helps.

-Dean

Air Industries Machining Corp

--- In vantage@yahoogroups.com, Lou Laird <loulrd@...> wrote:
>
> Is anyone using Vantage for a raw material consignment program? If
so, how are you doing it.
>
>
>
> ---------------------------------
> Get your email and more, right on the new Yahoo.com
>
> [Non-text portions of this message have been removed]
>

Dean Mortera
Network Administrator
Air Industries Machining Corp.
A Wholly-Owned Subsidiary of Gales Industries
Tel: 631-328-7027
Fax: 631-968-5377






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[Non-text portions of this message have been removed]
Is anyone using Vantage for a raw material consignment program? If so, how are you doing it.



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[Non-text portions of this message have been removed]
Lou,

What we did here is create a seperate consigned warehouse, with all
consigned raw material going into this warehouse with zero costs. When
the material comes in a PO is created on the fly with zero costs,
however this PO is not closed. When more material comes in during the
year we keeping adding to the qty of the PO. So at the end of the year
we can final close the PO and have a count of what came in. We also
use the reference field when receiving the material to refer to the
heat lot #. Hope this helps.

-Dean

Air Industries Machining Corp

--- In vantage@yahoogroups.com, Lou Laird <loulrd@...> wrote:
>
> Is anyone using Vantage for a raw material consignment program? If
so, how are you doing it.
>
>
>
> ---------------------------------
> Get your email and more, right on the new Yahoo.com
>
> [Non-text portions of this message have been removed]
>
I understand, sound simple.
When you consume the material how do you pay for it and relieve inventory?


Dean <dean.mortera@...> wrote:
Lou,

What we did here is create a seperate consigned warehouse, with all
consigned raw material going into this warehouse with zero costs. When
the material comes in a PO is created on the fly with zero costs,
however this PO is not closed. When more material comes in during the
year we keeping adding to the qty of the PO. So at the end of the year
we can final close the PO and have a count of what came in. We also
use the reference field when receiving the material to refer to the
heat lot #. Hope this helps.

-Dean

Air Industries Machining Corp

--- In vantage@yahoogroups.com, Lou Laird <loulrd@...> wrote:
>
> Is anyone using Vantage for a raw material consignment program? If
so, how are you doing it.
>
>
>
> ---------------------------------
> Get your email and more, right on the new Yahoo.com
>
> [Non-text portions of this message have been removed]
>






---------------------------------
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[Non-text portions of this message have been removed]
We issue the material to the job, taken with it burden costs and relieving inventory. We don't pay for our consigned material, since it was given to us by the customer.

Posted by: "Lou Laird" loulrd@... Â loulrd
Tue Oct 17, 2006 5:51 pm (PST)
I understand, sound simple.
When you consume the material how do you pay for it and relieve inventory?


Dean <dean.mortera@...> wrote:
Lou,

What we did here is create a seperate consigned warehouse, with all
consigned raw material going into this warehouse with zero costs. When
the material comes in a PO is created on the fly with zero costs,
however this PO is not closed. When more material comes in during the
year we keeping adding to the qty of the PO. So at the end of the year
we can final close the PO and have a count of what came in. We also
use the reference field when receiving the material to refer to the
heat lot #. Hope this helps.

-Dean

Air Industries Machining Corp

--- In vantage@yahoogroups.com, Lou Laird <loulrd@...> wrote:
>
> Is anyone using Vantage for a raw material consignment program? If
so, how are you doing it.
>
>
>
> ---------------------------------
> Get your email and more, right on the new Yahoo.com
>
> [Non-text portions of this message have been removed]
>


Dean Mortera
Network Administrator
Air Industries Machining Corp.
A Wholly-Owned Subsidiary of Gales Industries
Tel:Â 631-328-7027
Fax: 631-968-5377