Ricochet Consignment Software Reviews: Overview, Pricing and Features

Ricochet improves the relationship between consignors or
vendors and consignees or distributors. Thus, they will be able to
cooperate and work with each other in ways that will benefit both
of them.

This can be observed in the inventory management feature
of the software. This feature allows  consignors, vendors,
 and consignees to control and update their inventory. To
understand how this feature works, users should know the types of
inventory that they can manage using the software.

There are two types of inventory used in Ricochet:
consigned inventory and store owned inventory. Consigned inventory
includes the items or goods that are owned by a consignor or
vendor, and they are sold by the consignee through his or her
online store. On the other hand, a store owned inventory is
composed of wholesale or retail items owned by a consignee who is
running a consignment shop or retail store.  

Thus, in managing consigned inventory, the software allows
consignors to add items to their consigned inventory. This is
because they are provided with accounts from which they will be
able to view a list of their consigned items that their consignees
are selling and that are sold.

As they add new items to their consigned inventory, they
will be able to select the categories for those items, enter
descriptions like brand names or sizes, set their prices, input the
costs or amounts they will receive when they are sold, and select
the applicable commission splits they and their consignees have
agreed upon. In addition, consignors will also be able to instantly
apply tax rates and expirations to their items, as well as, set the
listing duration of posted items online before discounts are
applied to them.

Interestingly, all of these can also be done by the
consignees. Thus, consignees will be able to add new items to
consigned inventory and make updates. Moreover, consignees are
provided with the option to select which items from the consigned
inventory they will post on their online store.

Another feature of Ricochet is its customizable payout
functionality. With this feature, consignees will be able to
quickly pay the consignors their share of the proceeds from the
sales.

In preparing payouts, the consignee will be able to view
the consignor’s store credit. This is actually the amount of money
that the consignee owes to his or her consignor or vendor. The
consignee can deduct funds from the consignor’s credit, and can
also add funds to it. For instance, dry cleaning fees can be
deducted; and the software will automatically deduct such fees from
the consignor’s credit balance.

In addition, Ricochet enables users to view an itemized
list of the items they need to send payouts for. From this list,
they will be able to check items that they want to include in the
consignor’s payout report before they send or post a
payout.

Also, if they committed a mistake such as when an item is
sold with the wrong commission split, they will be able to correct
it easily. They just need to select this item from the inventory
field within the consignor’s account. Once they set the correct
split, the due amount will be automatically adjusted.

Finally, consignees will also be able to send multiple
payouts. This means they can send payouts to all of their
consignors on a specific date. Their consignors will also be able
to see which items in their inventory are sold but with pending
payouts.

Ricochet improves the relationship between consignors or
vendors and consignees or distributors. Thus, they will be able to
cooperate and work with each other in ways that will benefit both
of them.

This can be observed in the inventory management feature
of the software. This feature allows  consignors, vendors,
 and consignees to control and update their inventory. To
understand how this feature works, users should know the types of
inventory that they can manage using the software.

There are two types of inventory used in Ricochet:
consigned inventory and store owned inventory. Consigned inventory
includes the items or goods that are owned by a consignor or
vendor, and they are sold by the consignee through his or her
online store. On the other hand, a store owned inventory is
composed of wholesale or retail items owned by a consignee who is
running a consignment shop or retail store.  

Thus, in managing consigned inventory, the software allows
consignors to add items to their consigned inventory. This is
because they are provided with accounts from which they will be
able to view a list of their consigned items that their consignees
are selling and that are sold.

As they add new items to their consigned inventory, they
will be able to select the categories for those items, enter
descriptions like brand names or sizes, set their prices, input the
costs or amounts they will receive when they are sold, and select
the applicable commission splits they and their consignees have
agreed upon. In addition, consignors will also be able to instantly
apply tax rates and expirations to their items, as well as, set the
listing duration of posted items online before discounts are
applied to them.

Interestingly, all of these can also be done by the
consignees. Thus, consignees will be able to add new items to
consigned inventory and make updates. Moreover, consignees are
provided with the option to select which items from the consigned
inventory they will post on their online store.

Another feature of Ricochet is its customizable payout
functionality. With this feature, consignees will be able to
quickly pay the consignors their share of the proceeds from the
sales.

In preparing payouts, the consignee will be able to view
the consignor’s store credit. This is actually the amount of money
that the consignee owes to his or her consignor or vendor. The
consignee can deduct funds from the consignor’s credit, and can
also add funds to it. For instance, dry cleaning fees can be
deducted; and the software will automatically deduct such fees from
the consignor’s credit balance.

In addition, Ricochet enables users to view an itemized
list of the items they need to send payouts for. From this list,
they will be able to check items that they want to include in the
consignor’s payout report before they send or post a
payout.

Also, if they committed a mistake such as when an item is
sold with the wrong commission split, they will be able to correct
it easily. They just need to select this item from the inventory
field within the consignor’s account. Once they set the correct
split, the due amount will be automatically adjusted.

Finally, consignees will also be able to send multiple
payouts. This means they can send payouts to all of their
consignors on a specific date. Their consignors will also be able
to see which items in their inventory are sold but with pending
payouts.