Tag: retailers

Supply Chain Start-Up and Management

Posted by Winflow – June 9, 2011

A supply chain is a series of companies who co-ordinate their activities to deliver goods and services to consumers and gain an advantage over the competition. Being part of a supply chain involves working with:

  • Retailers
  • Manufacturers
  • Transporters
  • Distributors
  • Suppliers
  • Storage Facilities

Managing a supply chain involves overseeing materials and finances as they move from supplier eventually making their way down to the consumer. A supply chain manager has three main duties to oversee:

  • Supplying raw materials to manufacturers.
  • Converting raw materials into finished products through manufacturers.
  • Ensuring the products reach the company through your network of distributors.

Supply chain managers are also responsible for finding the most optimal methods of transporting and distributing their inventory. To ensure an optimal supply chain make sure to:

  • Minimize transportation costs as much as possible. This will save you and your consumers more money down the road.
  • Ensure quick deliveries. Plan out the fastest routes for your drivers ahead of time.
  • Use the right type of transportation. There are many different methods of transportation to utilize when distributing inventory. Choose one that best suits your economical and inventory needs.
  • Move merchandise in the proper quantities. Moving too much or too little inventory will just end up costing you money.

For more information on supply chain management read this Canada Business page.

For advice on your small business needs, call the Winflow Financial Group at 1.800.956.6897.

Starting a Wholesale Business

Posted by Winflow – June 9, 2011

Running a wholesale business can make you a substantial amount of profit compared to running a retail store. This is because you are not making sales a dollar at a time, instead you are supplying inventory to retailers who typically need orders that costs thousands. If you’re considering opening a wholesale business, keep the following in mind:

  • You don’t need a lot of capital to start a wholesale business.
  • You can stock inventory or drop ship it directly to the customers. Drop shipping is when you send the inventory from the vendor to the customer. You avoid paying overhead fees for storing merchandise.
  • Understanding consumer trends is an important aspect of running a wholesale business.

Once you have decided to open a wholesale business, there are a few things you need to get in order. Be sure to set up the following before opening your business:

  • Find manufacturers. Vendors can largely be found online.
  • Find retailers through ads and direct contact. Participate in social media and consider contacting E-Bay or other online stores.
  • Figure out payment terms. Take a look at the competition’s payment terms and see if you can provide stock for less.

If you need help launching your wholesale business contact the Winflow Financial Group today. We can assist you in financing, investment