What is it? Consignment inventory is a supply chain in which retailers offer their products, but the suppliers keep the inventory of the products until they are sold. Unlike traditional inventory practices, consignment inventory puts responsibility to sell goods on the manufacturer or supplier. How does it work? Typically, the supplier would approach the retailer...Continue Reading

Author: Nick Knotts, Industrial Engineer, The Lawton Standard Co. What is a company’s most important asset? What is the most important resource to a manufacturing operation? Is it the machines? Is it the raw material? Does it depend on the type of manufacturing? Maybe it does depend on the business, but in my opinion, in...Continue Reading