At COBALT, we understand in today’s on-demand world that when you ask your customer when they need their job delivered, you’re often told “I need it yesterday.” To help our customers access just-in-time production supplies so you can easily and confidently say “yes” to short turnaround times, COBALT offers a consignment inventory program.
To set up a new consignment inventory program, we consult with you to identify the day-to-day items you order regularly and consume on a frequent basis. Based on your list of high turn inventory items and recent history of your purchases, we build a usage forecast to determine the appropriate stocking levels to meet your average day-to-day needs. Based on your forecasted consumption levels, we present you with a consignment inventory agreement to sign off as the consignee of COBALT inventory located within your shop for your day-to-day access and usage.
Consignment Program Highlights
Eliminate the need to order your core production supplies daily or weekly. There is no need to risk production delays waiting for stock to arrive or create multiple purchase orders, emails and phone calls for your everyday materials. In turn, you eliminate multiple receipts, invoices, accounts payable postings and payments throughout the month. COBALT makes it simple with a once a month count, replenishment and single invoice for materials consumed throughout the month.
Counts are done at the end of each month and only then is your usage recorded and an invoice created. The benefit to you is an extension of your account terms on certain products consumed earlier in the month.