|
|
Retail Floor planning (can be referred to as inventory financing) is a type of short term loan used by retailers to purchase high-cost inventory. The terms of the short term loans will vary depending on the financing company, and System Five offers the tracking of floor plan inventory so businesses can feel confident that they understand . Reporting on the activity of floor plan inventory, allows businesses to understand when merchandise has been sold and to track the subsequent payment for the floor plan financing. Floor planning allows a business to carry high-cost inventory without the up front cost, as the payment for the inventory is typically upon the merchandise being sold.
Floor Planning must be enabled in Setup Wizard> Inventory> Floor Planning for floor planning related commands to appear on the menu.
Consignment in business refers to the act of giving over to another person/business, the custody of merchandise for the purpose of selling the merchandise. The legal ownership of the merchandise remains with its original owner, and once the merchandise is sold, the original owner or consignor, will receive payment for the merchandise less a previously agreed upon commission that the business holds back. System Five offer tracking of consignment inventory by providing supplementary functionality and reporting to track the status of consignment inventory. The reporting provides tracking of consignment inventory so the business can take appropriate action for the merchandise. This may be as a discount on merchandise not moving, or payment to the consignor.
Consignment must be enabled in Setup Wizard> Inventory> Consignment for consignment related commands to appear on the menu.
To access Consignment and Floor Planning functions, select Inventory and Purchases > Consignment & Floor Planning from the Navigator menu, as shown in Figure 1.
Figure 1: Consignment and Floor Planning Navigator menu
See Consignment and Floor Planning. - setup and configuration for prerequisite setup instructions for the Consignment and Floor Planning functions.
The following topics explain the function of each of these related sub-menu commands:
The following topics include detailed descriptions of window(s) and dialog box(es) used for the Consignment and Floor Planning functions: