This new dimension in D365 introduced under tracking dimension discussed previously here (Before this was only for RUS).
Understand first Consignment Inventory
In retail shops like grocery or pharmacy there are some specific sponsored shelves by some brand, (in most of the cases) these shelves are placed and stock is maintained by vendor for retail sale without the need by business owner to purchase first, here business owner acts as agent. This process have many challenges like to segregate these inventories under different vendor owners, ability to have a stock count and sales of these items with commission, to avoid any disputes. D365 introduced new feature owner dimension (as part of tracking dimension). Further #D365 has provided separate portal to control these items by vendors.
Owner dimension is generally used for stock replenishment part of consignment process to maintain minimum stock. Supplies of items are fixed by specific vendors or inter legal entity and these are called owners dimension.
Owners can be changed which uses Journal posting (Procurement & Sourcing->Consignment replenishment orders)
New owners can be created (Inventory Management->Setup->Dimensions->Inventory Owners)
- Create Owner Tracking dimension and attach to newly created item and storage dimension use location enabled one
- Set inventory defaults and price
- Create replenishment Order and specify item and owner
- Change or update owner
Detail process is explained here.