One of the most important skills for garments Merchandiser buyer and a seller must muster is the ability to Negotiation Skills Garments Merchandiser. As most high street fashion selling prices are very competitive, the greatest scope for improving profit in a product is the reduction of cost price. There are many factors that influence the final cost price of a product including fabric, garment construction, order volume, lead-time, and delivery terms. These particular issues are discussed in more detail throughout the book.
Negotiation Skills Garments Merchandiser
Negotiation is a process of communication and exchange through which the interested parties make a series of demands and compromises: it involves the trading of benefits between parties. The basic principle is to trade what is of low value to you but of greater value to the other party, thereby reducing the cost of success to you. However the aim of a negotiation should be to ensure that both parties are happy with the final outcome or agreement, otherwise one or the other will not continue to participate. So Negotiation Skills Garments Merchandiser must be need to both parties.
The old scenario of the retailer is always winning and supplier always losing results in both parties effectively losing. Traditionally, the dominant fashion retail groups have seen the availability of large numbers of supplies as a means of trading one off against another to achieve a cheaper cost price. Consequently many of the suppliers who lost out ceased to do business with those retailers again. Short-term cost-price gains resulted in short-term relationships with many suppliers, with the end result being a large, unwieldy and diverse supplier base operating as efficiently as it should. Negotiation Skills Garments Merchandiser is very important part of the merchandising business.
By the same token an inexperienced buyer can be vulnerable to a supplier wanting to secure an unreasonable cost price, resulting in the fashion retailer delisting them in the future for being uncompetitive. As such it is no better for the supplier to be in a situation where they are winning and the retailer is losing. The common wisdom about negotiation is that both sides should aim to work together to achieve a mutually acceptable result, which is usually referred to as a win-win situation.