RMG 400 Lecture : Partnerships
17 May 2011
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Document Summary
Types of vendors: manufacturers, wholesalers, manufacturer"s representatives / brokers, rack jobbers. Selecting vendors: merchandise/prices offered, distribution policies (exclusive / selective, reputation / reliability, terms offered, services offered, cooperative advertising, advertising aids, return and exchange privileges, participation in store promotions, sales training, assistance in stock control, pre-ticketing of merchandise. Initial markup percentage: total purchases for the year/season, returns to vendor, advertising allowances, markdowns, cash discounts, transportation expenses, customer opinion, reliability. Describe criteria against which vendors can be evaluates: against its prior performance, against other vendors, percentage of stores orders. Basis for strong buyer-vendor relationships www. notesolution. com: keep appointments, visit reps and give full attention to their presentations, confirm/cancel tentative orders promptly, provide feedback to vendors on sales, only change vendors based on long-term analysis. Buyers" expectations of vendors: merchandising help through technology, sales training, fixtures and visuals, packaging, timely delivery. Developing strong buyer-vendor relationships (future trends: consolidations of vendors, vendor-owned stores. Reasons to purchase from foreign sources: unavailability of merchandise.
