Retail management

Merchandise sourcing

Finding /seeking productsPlaces

Manufacturers supplier

Methods of procuring merchandising Identification Contacting Negotiation Establish Analyzing

and evaluation

Vendor relations vendor performance

Identification DomesticvVisiting central markets vTrade-shows /expositions

InternationalvUnique vLow cost vGood quality

sourcing decisionSales persons feedback Trade magazines / yellow pages. Trade exhibitions

Cost involved in Global sourcing Country

of origin Foreign currency fluctuations Tariffs Foreign trade zones Inventory carrying cost Transportation costs

Contact and evaluationVendor initiated Retailer initiated

Vendor selection

v Target market v Merchandise procured /organization image v Merchandise Offering and price v Terms and services v Vendors reputation and reliability.

Vendor evaluation Merchandise Adaptability Delivery

quality and price

fulfillment Quantity discounts Recycling/ repacking of products Promotions and advertising

Negotiating with vendors

Price Delivery

schedules Discounts Shipping terms Possibility of returns

Negotiation

Types of discounts

Trade Chain Quantity Seasonal Cash

Establishing Vendor relation Information

sharing- competitive advantage. Accurate Sales forecast Mutual trust Open communication Common goals Credible commitments

Analyzing vendor performance Total

orders placed Returns to vendor Merchandise Quality Markups/markdowns Promotional participation Transportation expense Merchandise performance Cash discounts offered

Private label When

the retailer decides to sell products or a line of merchandise which is owned, controlled, merchandised and sold by the retailer in his own store/ chain of stores he is said to be selling Own label/ brand or Private label merchandise

Types of private label

Store brand Umbrella brand

Individual brand

Steps of creating private label Defining

objective gap of manufacturing or sourcing and sales strategy measures.

Defining

Decision

Marketing

Performance