Vendor consignment inventory in 8.03.4

We have a European vendor who has just set up a Chicago warehouse to hold SKUs for us until we request release. We aren't invoiced for the material until it actually ships from Chicago to our NJ location and we receive/inspect it.

Our purchasing group would liike to set this up in Vantage 8.03.4 in a way that they have visibility to inventory at the Chicago warehouse (for consensus management of those inventory levels with the vendor and for long term contract PO planning).

To me, this seems like a consigned inventory process - where perhaps we set up the Chicago location as seperate warehouse (or perhaps we need to set it up as a Plant) where inventory 'received' there is consigned (not invoiced) and then (somehow) we utilize existing vantage processes that trigger invoice/receipt payment authorization only after a transfer order/shipment occurs from Chicago to our actual NJ facitlity.

Anyone out there doing anything like this on v8? If so, can you share with us how you have set up your processes?

Rob Brown
Versa Products

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