Buying is more than placing orders and collecting deliveries. It is the skill of understanding when things sell and not, helping any business manage their cash flow in an optimal way.
For example, does your company sell warm winter jackets in June or do you have your peak in October when the cold hits northern Europe? Probably the latter, so a smaller delivery in June to show your customer what you offer, but the main part delivered in September keeps the cash flow for marketing activities in August.
The need for a correct buying strategy also increases as more and more companies take steps to become more environmentally friendly and sustainable, since delivery, sourcing, and certification of materials usually takes more time. The same need for a smart buying strategy helps with any maintaining stocks of products you believe in: in short, how many pieces can you keep in stock without hurting cash flow or increasing your risks?
WeaLIT helps you think a few steps longer down the road.
Product Development, Collection Planning and buying involve a lot of decision making. Is the purpose of the development to be more cost efficient, shorten lead times or a set environmental goal? Finding the best alternative or highest achievable performance under the given constraints by maximizing desired factors and minimizing the undesired ones will make the difference. We often find ourselves in situations where we need to make a decision but we lack information.
Keeping track of your suppliers, samples and mails in the everyday work is more than enough sometimes. But how often do you take a minute to ask your self if you have the right combination of suppliers. Do you have an efficient overlap of suppliers who can support you with fast samples or difficult developments? Would you benefit from exposing your excising contractors for some competition?
Have you had the time to compare the prices you are paying to other players in the market? And more important – does your supplier know that they have competition or do they set the rules for your cooperation? Let us investigate this for you.
We at Wealit Love templates. It makes the work so much easier and fun. Saying that you shall be aware that you do not need more than a few good templates to run a good production department. You shall never have to fill in the same information at two different places; this only opens up for mistakes. If you are a smaller company building up the routines, let us look into your process and help to simplify the work.
Analysing the sales in Retail and Wholesale figures can give you invaluable information. Planning the collection in a strategically you can secure to collect valuable information. Do you need to try out a new material, new price point or a new fit of your bestseller? How shall you make this without losing sales?
Depending on the brand you will have different strategies how to enter the market. Who is your target customer, and how much does he or she wants to pay for your garments? Can you offer the exact same product in different materials and different prices?