This month’s main feature focuses on how to be the best wholesale buyer. Here are 7 top tips you must remember when buying.
1. Mix academia with experience
Successful purchasing teams are a blend of academic number-crunchers and hands-on grafters who have worked their way from the ground up.
2. Get close to sales
Buying and selling go hand in hand. If your business doesn’t have buyers that sell, then getting the buyers to work closely with the sales team, both physically and strategically, is critical.
3. Build a network of contacts
Deals can be done at a local level and depend on the strength of supplier relationships. Don’t underestimate the value of your internal support network, too – a badly taken telephone message is a missed opportunity.
4. Position the relationship
If a price works, take it. Then, when you really need a lower price, you are more likely to get it. Never just say no and always offer suppliers feedback.
5. Look for win-wins
If suppliers think you’ve cheated them, they won’t be coming back. Look for deals that are mutually beneficial to your business, your suppliers and the customers you serve.
6. Keep learning
No matter how qualified or experienced you are, you never stop learning. Consider how much you could learn spending a day with other buyers or suppliers.
7. Put your ego away
The best decisions are made when you are cool, calm and level-headed. And if it’s all getting too much, give yourself some time to switch off.