5 Factors to consider when selecting furniture supplier Malaysia
The process of starting your own company is both exhilarating and nerve-wracking. If this is where you envision your route headed, you’ve already done a lot of the hard work and made your business’s design selections. Is it a typical brick-and-mortar establishment? Or are you jumping on the digital bandwagon and establishing an e-commerce-only business? Perhaps a blend of the two? Whichever sales channel you choose, you’ll need a solid source and way of bringing in merchandise — if you’re entering the retail sector without anything to sell, you may want to reconsider your business plan! (furniture supplier Malaysia)
It might be intimidating sorting through all the possible suppliers and attempting to choose those with whom you want to develop a business relationship. You may have several suppliers that supply a variety of different things, and you can even switch between providers as your business’s needs expand and markets shift. However, you will need to filter and locate such trustworthy and credible sources each time.
We’ve compiled a list that you may refer to throughout the life of your company to assist you in identifying the best supplier(s) for your business model. Continue reading for our tips on five factors to consider when selecting a provider.
1.Profitability No. 1
When everything is said and done, a business is a business. Which means you must find a method to generate revenue – you must meet your basic overhead expenses, pay your staff, reinvest in your company, and leave some money for yourself at the end of the day.
When selecting a supplier, you should carefully consider their product prices as well as their MAP pricing rules (which may have a significant impact on how you conduct sales and promotions). Freight, service fees, and regional taxes may all have an effect on the ultimate cost of items.
Locations are critical! If your supplier is located across the nation, this may have an impact on everything from your product’s pricing to shipping rules and timings.
If you prefer a more hands-on approach to product purchasing, you should find a provider located in your area so you may visit their showrooms and have a closer look at their items. Alternatively, seek for suppliers that exhibit at trade events so that, even if you must travel, you may visit many firms simultaneously.
If your business strategy is primarily centred on drop-shipping, you may choose a supplier with a better delivery network regardless of their proximity to you.
In general, how simple is it to place an order? Is there a phone line or can orders be placed straight online? You’ll want to work with a provider that has a well-rated, user-friendly website. Placing orders and receiving your goods should be the easiest aspect of your supplier relationship.
3. After-Sales Service & Warranties
Customer service is what leaves an indelible impression on dealers and end buyers alike. It’s what will keep you returning to the same vendors, even if they’re not always the cheapest. Many businesses have specialised area sales representatives – are in-person visits by a representative crucial to you? Alternatively, you may just want an account manager who is easily accessible to address any questions or problems that arise.
You’ll want to know about the supplier’s after-sales support. Do they handle service requests directly, such as replacement parts or broken products, or must the consumer go via you? Usually, many furniture supplier Malaysia will emphasize on this service to differentiate them among competitors.
These are all legitimate service-related concerns that will influence how you pick your vendors.
4. Product Inventory and Selection
If you sell things, you want to ensure that you can supply the consumer with what they want when they want it. That is why inventory plays a significant role in determining the best provider. Are you, for instance, a chair specialist?
You’ll want a provider that can quickly fulfil all of your chair orders. Seek for furniture supplier Malaysia that provide a reasonable lead time for inventory delivery. And, if products are placed on back order, how long will it take for them to be completed? Is it a matter of weeks or months?
Again, depending on your company strategy, you may desire a supplier with a diverse product offering. Do they have comparable style things that may be substituted for others if inventories runs low?
A reputable furniture wholesaler, for example, would provide a variety of product sample at a variety of pricing points, ensuring that you can discover the items to offer that you know your consumers want.
What is the turnaround time for the items you supply? How often do products become unavailable? Is the provider constantly adding new items? The more often they replenish their inventory, the more frequently you can do the same in your businesses.
5. Promotions, marketing, and social media
Consider how a supplier markets their goods – both to dealers like you and to end customers. Do they like engaging their dealers in marketing efforts? Do they have social media profiles dedicated to generating hype for certain items?
Is there a promotion policy in place at the supplier? Do they give special incentives to dealers that sell cheap merchandise? How frequently? Is it necessary for their advancements to be mirrored in your own? Or do you have complete discretion over when and how much you discount items?
Product reviews are a huge advantage in today’s internet-driven economy. Does your supplier’s website have a database of product reviews? Is it encouraged for you to provide reviews on your own website?
Additionally, you may seek for reviews on general review sites such as Google and Yelp, but be cautious since many of the evaluations may originate from end users who are unfamiliar with the wholesale business model.
There is so much to consider! However, use this list as a convenient reminder of some of the critical points to consider while hunting for a new provider. Let us know if you have any further tried and true strategies for assessing and locating reputable suppliers in your sector!
Lenchong might be an excellent match for your company. From superior customer service to industry-leading drop-shipping and wholesale programmes, they are furniture supplier Malaysia with 30 years of expertise can help you take your company to the next level.
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