RMG 400 Lecture Notes - Lecture 9: Private Label, Active Listening
3 Dec 2017
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Week 9 chapter 11: selecting vendors & building partnerships. When are vendors selected: once buyers have prepared their merchandise and assortment plans, they are ready to select vendors from whom to make purchases. Rack jobbers: a vendor who services client stores themselves, retail stores that use rack jobbers assign them rack or shelf space that they are responsible for keeping stocked with quick-turning merchandise. Manufacturers: buyers of fashion goods typically make purchases directly from manufacturers or their representatives in the market. In addition to purchase quotas, some manufacturers ay also establish both promotion and pricing requirements. Wholesalers: an organization that purchases merchandise from a manufacturer in large quantities and resells the goods in smaller amounts to retailers, also known as merchant middlemen because they take possession of the goods they purchase from manufacturers. Making contact with potential vendors: after selecting key resources, most buyers distribute purchases, to broaden market contacts, to experiment with new merchandise or vendors, buyer-initiated contacts.
