This article is relevant if you take another party’s inventory on consignment in NetSuite, and you need to recognize your respective obligations when the items are sold.

Background

In 2021, I discussed and demonstrated how to Automate NetSuite Consignment Sales Obligation Programs. This demonstration inspired another jewelry industry client for a similar but more complex consignment challenge. In contrast, the previous article discussed how the client modeled unique item records for each serialized piece; this client had many quantities of the same item and used traditional consignment sales techniques.

In a consignment selling model, the seller (in most cases) takes physical possession but enjoys avoiding the associated financial risk.  The consignment selling model is valuable for retailers who have built powerful distribution capacities as they avoid tying up capital.  Likewise, respective manufacturers who wish to gain greater distribution can sell their goods among retail companies trusted for their brand identity and market power.

NetSuite does not support this selling model natively. However, as discussed in more detail in the 2021 article, some innovations with the business records and scripted logic can drive the proper obligation recognition once items have been sold.

In this article, I assume the reader has (or will obtain) more background on the selling model, which can be followed in the previous article. My goal here is twofold:

1. General Demonstration: Illustrate another consignment model with multiple sales and purchase orders, giving the user control over intelligent vendor bill generation.
2. Technical Demonstration: unpack the underlying high-performance technology development approach using the Prolecto Extensible Client Framework.  The Extensible Client Framework allows for modern development techniques that rapidly assist software engineers in the production of responsive HTML 5 applications, all hosted on the NetSuite platform.

The two demonstration videos below are derivative work based on an internal technical Prolecto Resources team educational meeting.  The team is learning about the new Extensible Client Framework so they may be prepared to produce highly competitive applications for our clients.

NetSuite Consignment Sale Demonstration

The first video (7:48) is a NetSuite-driven consignment sales business-oriented demonstration meaningful to retail managers who wish to account for supplier obligations dependent on sold-through revenue transactions.    The discussion of the application highlights the complex processing logic required before we watch the application performs significant transaction work.

For readers who are software developers, I recommend watching the second video below as we go into great depth about the development pattern.

NetSuite Software Technology Development Consignment Sale Demonstration

The subsequent video (18:38) covers the business case. It goes further and offers a NetSuite-driven consignment sales technically-oriented demonstration meaningful to software developers who wish to understand a modern Model-View-Controller (MVC) approach quite different from Oracle’s prescribed methods.   With this new pattern, a world opens up to designers that change the standards that NetSuite users experience in their day-to-day use of the ERP system.

The results are outstanding!    The Extensible Client Framework is the result of three years of NetSuite-driven application development in the pursuit of higher-performing experiences.

Previous High-Performance NetSuite Application Demonstrations

The following previous articles are pointers to our work that is now encapsulated in the framework.

• 2023: High Performance NetSuite Item Lookup
• 2022: Unleash NetSuite’s User Interface by Innovating via the Platform
• 2022: Take Control: Watch How NetSuite can be Amazingly High-Performance!
• 2022: NetSuite Customer Facing HTML Based Order Viewer Demonstration
• 2021: Watch NetSuite Drive Fast Tablet (iPad) Based Order Entry
• 2020: See How to Craft Fast and Flexible NetSuite Bulk Record Generators

Craft Superior NetSuite User Experiences

Our firm’s philosophy is to first understand business requirements and then solve matters with NetSuite technology with native capacities.  Where it makes sense, we will use NetSuite conventional application development techniques.  However, for clients that demand a superior user experience, which can include mobile device usage, we have the freedom to craft uncommonly powerful business applications.

Like all of the intellectual property we have developed since 2008, we supply our clients with the Extensible Client Framework without a license charge.  For clients with in-house development staff, we can educate them on the patterns so they can begin to deliver better user experiences.

If you found this article relevant, feel free to sign up for notifications to new articles as I post them. If you need a consignment sales program or see a specialized application requiring a superior user experience,  let’s have a conversation.

Marty Zigman

Holding all three official certifications, Marty is regarded as the top NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 30 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to set up a conversation.

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