What are three ingredients to a successful vendor relationship?
1) Courtesy
2) Professionalism: Decisiveness, listening to expert advice
3) Money: Prompt payment
What are some ways you can find good vendors in your area?
1) Ask fellow designers you trust
2) Ask trade schools
3) Ask reliable vendors for their recommendations
4) Consult trade listings/trade magazines
What are the basic items you should have to prove yourself as a professional to shop at a trade center?
1) Business card
2) Bank account in business name
3) Resale number
4) Basic business forms like POs and Invoice forms
5) Website & email address
What is a resale number?
a number assigned to you by your state’s tax office designating you as a business entity exempt from state tax on merchandise and services you buy for resale to others. You are essentially a retailer
Which cost should be your designer discount, net or gross?
Net
When meeting with a vendor, be sure to discuss what?
Terms and conditions. With a contractor you usually discuss how you run your business.
Tip: Get all terms and conditions spelled out in writing and signed by the vendor.
What should a Purchase Order cover?
1) Knowing the exact date you expect the finished work,
2) the exact amount you expect to pay,
3) under what terms and conditions the work or merchandise is to be delivered, and
4) under what terms and conditions the vendor can expect to receive payment.
What is the difference between a cutting and a memo?
A cutting is a small fabric sample usually a couple inches you usually keep for free, whereas a memo is a larger sample that is lent to you and your responsibility to return.
What should you put for credit references when filling out a new vendor account?
simply indicate on the form that you are starting a new business. When they approve your credit, use them as a reference on future credit forms for other vendors, and so on.
What does paying pro-forma mean?
paying in full upfront when placing an order.
What does paying CBD mean?
"Cash Before Delivery"- when 50% is payed at time of order and the balance is due prior to delivery.
What is your best method for freight and handling?
Locate a local trucker (white-glove preferably) you trust and with the utmost professionalism who has a warehouse for receiving and storing. Their job will be to receive all the items for job, inspect the items when delivered and fill out a Bills of Lading for either arrival in perfect condition or damage. Once all pieces have arrived, the trucker will then deliver all of it to a project and move it in placing it where it needs to be with your guidance. Unless they are really good and trustworthy and can work off of a furniture floorplan you give them for setup
What is freight collect vs freight prepaid?
Freight collect is the manufacturer will have already paid the long distance shipping charges in advance. In such case, they will ordinarily bill you for shipping costs. You will then pay the manufacturer, and you then bill your client for this amount.
Freight Collect: he common-carrier trucker must be paid for the shipping charges upon delivery—no payment, no delivery.
What does FOB (Free on Board) shipping mean?
Shipping will be free up until the destination listed and then you must pay the remainder of the shipping charges to you.
What is concealed damage?
damage found after the shipper has dropped off the merchandise and left.
How do you deal with concealed damage?
Notify the shipper and carrier immediately
We recommend that you send an email and/or registered letter stating that you found the damage only after careful inspection. If possible also send photos to further document the nature and extent of the damage.