January 11, 2012

Consignment Visibility Tool Simplifies Surplus Remarketing

Trying to remarket surplus electronic components can be a tremendous amount of work for manufacturers and EMS providers. Unless your company is equipped with market intelligence, it’s not easy to find out how much your excess electronic components inventory is really worth or who might be interested in buying it. There is also the danger of finding the wrong buyer – e.g., a broker instead of an end user – whose markups and fees can minimize your financial return. In addition, dealing with product staging and global shipping logistics can be a real hassle when those activities are not part of your company’s core mission.

Converge specializes in helping technology manufacturers solve their complicated surplus problems, while minimizing effort for the manufacturer and maximizing return potential. One way that we make the remarketing process as easy as possible for our clients is through our consignment program. Converge consignment is a turnkey solution in which the customer ships the surplus inventory to Converge, where it is inspected, sanitized, and marketed to our global network of contacts. However, the customer retains ownership of the inventory until it sells.

Converge’s proprietary online Consignment Visibility Tool (CVT) simplifies the process even further by allowing customers to view and manage all consigned inventory via one centralized hub. Some of our CVT features include:
  • 24-7 transparency. Customers can log in to see their surplus inventory status at any time.
  • Improved chain of communication. Our customers’ third-party partners – such as contract manufacturers – can also participate and access the CVT system, so customers can keep their entire supply chain streamlined and connected.
  • Inventory balancing ability. If customers’ forecasts change and they need some of their consigned products back, they can simply look in the CVT to view what is available. Converge will ship the products back at no cost.
  • Real-time financial forecasts. Consigners can see how much of their inventory sold, at what price it sold, and how much revenue to expect at the end of the month.
  • Flexible reporting. Converge sends regular consignment inventory reports and payments on a monthly basis. Clients can also download information to create their own reports at any time through the CVT.
Many companies struggle to find an effective way to get excess electronics components inventory back into the supply chain. Converge can help you return that value back to your bottom line … without all the work that goes with selling your own inventory one line item at a time.

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