Today I will share with you about Garment merchandiser and buying house.
Buying House: –
Garment merchandiser and buying house. Buying house is a kind of export-oriented garment industry. The business we call 100% Export Oriented Business. Here the word buying house means, “buy” means to buy and the word “house” is being used in the sense of a business organization. In other words, buying a house is a business organization that works as trading. The main function of buying a house is to communicate with the buyer and negotiate the order. And when the order is finally confirmed, it is the job of the buying house to arrange the shipment by executing it through a factory.
And when the order comes to the factory by the hand of the buying house, the buying house supervises, leads, supervises all the work from the beginning to the end of that order. The buyer is a foreigner, so he can’t communicate or take care of the foreigner all the time. Therefore, the buying house acts as a representative of many foreign buyers. The main responsibility of the buying house is to ensure the quality of the product that the buyer wants or the quality of the product that he wants.
How the Buying House Works: –
Buying houses usually work in two ways. E.g.
1. As a trading company.
2. As a buying agent.
How it works as a trading company: –
An example can be better understood. Suppose a buying house negotiates an order with a foreign buyer and the order is confirmed at 3.5$. The buying house will then shift the order to a factory and while shifting its target will be how much it can execute the order for less than 3.5$. The less you can execute, the more profit you make. Suppose the buying house executes the order at 3$, then each garment will have a profit of 50 cents. If the buying house works in this way, it will be working as a trading company.
How to act as a buying agent: –
The policy or system that is followed to act as a buying agent is to link the buyer with the manufacturer i.e. the garment factory. In that case, a commission is left for the buying house, which can be 5 to 10% or more or less depending on the field. This 5 to 10% commission is collected from the buying house garments after the product is shipped.
Merchandising in the garment industry: –
Garment merchandiser and buying house. Merchandising is always a promising profession. Gaining experience in this sector increases the certainty in the career life. Moreover, the lion’s share of our foreign income comes from the garment industry, considering the job market and career, many are becoming interested in this profession. Every garment or buying house in the garment industry needs a merchandiser. However, Garments Merchandising is all about starting from raw materials to producing quality garments as per the demand of the buyers and delivering them to the buyers on time.
Simply put, the merchandiser is the one who oversees the entire process from garment production to marketing. The profit and loss of the organization depend on a merchant. In this case, the amount of profit is as much as the amount of loss is not less. A small mistake can cause a lot of damage to the organization. So today we have arranged our blog with some of the essential qualities of a merchandiser, which means that it is very important for a merchandiser to know the work professionally. So let’s get to know the issues.
First of all, the technical sheet and order sheet sent by the buyer should be well understood and there should be no ambiguity. This means that the quality of fabric, accessories, product quality, order quantity, etc. that the buyer mentions must be fulfilled properly. Otherwise, the product is very likely to be rejected by the buyer.
Fabric and yarn are well known. Also, know and understand in the light of reality about quality, price, supplier, sourcing, and production of the textile industry. Knowing and understanding each of these issues such as yarn, fabric, garments from its production stage to its consumption and costing. Above all, to be able to do the above things accurately. Then get a good idea about the production capacity, production strategy, planning of garments and textile products. If necessary, see these with your own eyes and understand the decisions and actions. In special cases, the buyer provides the clothing design to the merchandiser.
You need to have a good idea about various components especially garment samples, fabric samples, lab dips, trim cards, swatch cards, development and approval preparation, revision, time management, and follow-up. And the buyer has to have a very good idea about the order sheet, payment term, and shipment and know the issues in the light of reality.
Understand the problems of various issues including fabric production, garments production, washing, and testing of “raw” materials of garments and know how to solve them. Also Accessories Development, Production Prize and So.
Good knowledge about Export, Import Documents, Propoma Invoice (PI), Commercial Invoice (CI), Packing List, Shipment, Booking, Final Inspection, Factory Profile, HR Department, and Fire Safety.
Lastly, Yarn Booking, Fabric Booking, Sample Booking, Accessories Booking, you have to be able to give these alone. Moreover, you cannot be a good merchandiser. Also, if you want to achieve 100% success in merchandising, a merchandiser must acquire the following personal skills.
A mistake by a merchandiser can cause huge losses to the company. Therefore, the cost sectors have to be considered and the price of the product has to be determined by calculating the profit margin.
The needs of the buyer should be given priority. The quality of the clothes that the buyer wants must be maintained. Losing a buyer in this sector means a loss of millions of rupees.
One of the qualities of a skilled merchandiser is to deliver on time. Failure to ship at the right time can result in loss of LC i.e. Letter of Credit. In that case, there will be a possibility of massive loss.
You need to be proficient in English. Because the main buyer of 100% export oriented business is foreign. As a result, to maintain a relationship with them, one must know English to understand the quality of the product.
Must be computer literate. Because in most cases the buyer has to be contacted via email. That is not possible without computer skills. In addition to using the Internet, you need to know MS Word, MS Excel.
All in all, to be a skilled merchandiser requires hard work, professional skills, and some notable personal skills. And if you can master the skills described above, you can be the first