Business Tips

Dealing with suppliers 101.docx

Suppliers are you amongst your first customers in any type of establishment. You need to own the entire know how on how to deal with suppliers. They can ruin your day, if you don’t know how to operate with them. There are three phases in dealing with suppliers.

Phase 1: Contacting your supplier:

  • Emailing your supplier is a good idea. Nevertheless, contacting by phone is the better option. It is more personal and tells the buyer, you are invested into this deal.
  • Having one reliable buyer is nice. However having multiple options is perfect. You wouldn’t want to witness the difficulty of makeshift arrangement in the hindsight.
  • Supplier needs your business. Be confident and act professional throughout the deal. Be confident when clarifying your doubts, even if it’s very obvious.

Phase 2: Learn about your supplier:

  • Determine if the supplier has or can get the product you want.
  • Ask if they can label the product with your brand.
  • Know how the custom labeling works with your supplier.
  • Understand minimum order quantity and different price tiers on quantity.
  • Ask how long it would take for the supplier to get the products shipment-ready.
  • Ask them about the setup process involved legally and personally. In some cases, you need a reseller license.

Phase 3: Payment details:

  • Clearly understand how payment works with your supplier. Don’t choose a supplier who demands hard cash.
  • Get in detail specifications of product and packaging. Have it drafted officially.
  • Get design from your designer and send it to supplier.
  • Wait for supplier to prepare product completely.
  • Preferably make supplier agree to FBA payment method.

Take action…

Now it’s time to take action. Contact every supplier in your list. Talk on the phone and arrange meet-ups. Complete the groundwork like a professional reseller. Invest in finding a reliable supplier for long term.