MineHub Technologies Inc. announced the launch of a new Consignment Module on its platform to serve the critical consignment market. For manufacturers, consignment programs reduce risk of stockouts without impacting their balance sheet and cash flow. Meanwhile, consignment programs offer suppliers an opportunity to provide improved customer service while increasing margins.

The administration of stocks in consignment is cumbersome, highly manual, and requires frequent interaction between suppliers, customers, and third parties like financiers to verify stock levels and reconcile accounts and balances. The new functionality of MineHub's Consignment Module removes this pain for manufacturers, suppliers, and financiers. MineHub's Consignment Module provides a single, shared and accurate view of the consignment stocks, available at all times to all parties.

Processors and manufacturers in the metals industry rely on consignment agreements because they need to ensure raw material inventories are available when needed for production. Suppliers will hold and finance that inventory until the consignee is ready to take ownership. MineHub's digital tools support and streamline program management, allowing manufacturers to capture the benefits of reducing inventory risk and optimizing working capital.

MineHub's Consignment Module is available now for existing and new customers. This Consignment Module enables existing MineHub customers to expand their volumes and new customers to incorporate MineHub in the services they provide to their customers.