Product and Wholesale Management
Introduction
Product management is a key factor in the success of any business. The ability to manage product information, inventory and fulfillment are essential to keeping your customers happy, loyal and coming back for more.
External Wholesale
A wholesaler buys products in bulk and sells them to retailers. This is a common practice in many industries, including clothing, electronics and books. If you are a manufacturer or distributor of goods who wants to sell your product at retail price points, finding a good wholesaler is key to your business model. Once you find the right wholesaler for your needs, it’s important that you manage the relationship with care. The following are some tips for managing external wholesale accounts:
- Finding A Good Wholesaler
- Managing Inventory With A Wholesaler
- Sales Management With A Wholesaler
- Payments And Payments Terms
How to manage your wholesale
You’ve done it! You found the perfect wholesale partner and are ready to get your product out into the world. Congratulations! Now, it’s time to keep your eyes on the prize and manage your wholesale in a way that is beneficial to both you and your retail partners.
Stocking and Supply Chain Management
- Keeping stock levels high means that you have a large amount of inventory on hand, which is risky and costly for retailers.
- Keeping stock levels low means that you’re not spending much on inventory and can offer your customers good prices, but it also means that you may run out of products or be unable to meet demand.
- Keeping stock levels somewhere in between (either high or low) is the best option: it allows you to keep costs down while ensuring that customers don’t miss out on products they want.
- Regardless of what level of inventory makes sense for your business, consistency is key—you need all types of people involved in the supply chain (from suppliers to carriers) involved at all times so they can work together as efficiently as possible. As sales fluctuate throughout the year, make sure everything else remains consistent; this will ensure that orders are processed quickly without mistakes being made along the way
Managing Product Information and Metadata
Product information, product data and metadata are essential to the success of your eCommerce site. By knowing how to use it, you can improve your search results, SEO and conversion rates. Metadata is simply information about or associated with a given product or service. It’s typically stored in a database along with the product itself and includes details about the item like its title, description and price. Meta tags are specific types of metadata that provide additional details about a page’s content; for example: on an online store’s home page these would be things like keywords describing what products are on offer here (for example “motorbike helmet”) as well as titles for images used alongside text descriptions or videos added later down below this paragraph which might say “Motorcycle Helmet X-Large Black With Free Shipping” etcetera…
The best way to manage products
In this chapter, you learned how to import products and manage product information. You also learned how to manage product metadata, which is the data associated with your products (such as descriptions, images and other attributes). In addition to managing the data itself, it’s important that you keep track of the source of your product information so that when necessary, you can update or change it if needed. In order for most marketers’ workflows to run smoothly and efficiently, it’s important that their teams have access to accurate product information so they can make informed business decisions.
