A merchant's guide to how to prepare for and conduct a supplier meeting. What are the valuable data reports to analyze? What are the questions you should ask your supplier? How to get more out of a meeting with supplier.
Mech/ Merchandise /Revenue/Gross Profit/Margin/Dollars/Data/Ecommerce/Omnichannel/Retail
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How to Conduct Supplier Meeting
1. HOW TO CONDUCT A
VENDOR MEETING
Joan Braatz, Vice President Merchandising
2021
2. A merchant supplier meeting is a
business review. Whether formal or
casual, the exchange is an
opportunity to refine strategic plans,
predict consumer behavior, re-
allocate resources, and drive
efficiencies. The more time invested
in preparing for the meeting, the
greater the benefit to category and
company.
How to Conduct Vendor Meeting 2
Why Prepare?
2021
4. MERCHANT DATA REPORT
REVIEW
FINANCIAL PLAN
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2021
VENDOR SCORECARD OPEN TO BUY
ASSORTMENT PLAN ACTIVITY CALENDAR STYLE SELLING REPORT
Annual plan tied to category strategy
and supports long range goal.
Tracks on-time delivery,
completeness of order, service level.
90 Forecast for Sales, Markdowns,
Purchases, Profit, Inventory
Merchant roadmap for fashion, core,
essential sku’s by volume grade.
Innovation and promotional map for
brand detailed by month, by half.
By sku sales data for units, dollars,
AUR, AUC, IMU, GP, WOS, and sell-
thru
How to Conduct Vendor Meeting
5. WHO SHOULD
ATTEND PREP?
Buyer
Associate + Assistant Buyer
Merchandise Planner
Allocation/Replenishment Manager
Ecommerce Business Analyst
Marketing Business Partner
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2021
How to Conduct Vendor Meeting
6. MERCHANT PREP DISCUSSION
Agenda for Merchant Team
• Review + Align on Sales forecast 90 days
• Validate future on order & action plan
• Validate gross profit & action plan
• Reconfirm inventory EOM QTR
• Quantify Sales Risk or Upside
What vendor resources are needed?
What vendor resources should be cut?
Gain Merchant Team Alignment
6
20XX
• Action plan to mitigate risk
• Action plan to optimize opportunity
• Support needed for innovation
• Determine key highlights for leadership
• Define resource “ask” of supplier
How to Conduct Vendor Meeting
8. COMMUNICATE OBJECTIVE TO SUPPLIER
Seed Vendor Alignment
• Share All Financial Reports
• Highlight Risk and/or Opportunity
• Communicate “ask” for Supplier
• Strategize Contingencies to Optimize
• Gain Competitor Insights
Report Performance
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2021
• Based on Trend, Re-define Purchases
• Prepare potential cancel candidates
• Identify potential receipt increases
• Validate purchase commitments
• Outline support for innovation
How to Conduct Vendor Meeting
9. QUESTIONS TO ASK SUPPLIER
9
SUPPLY CHAIN
• Is New Innovation Tracking on Time?
• Are Promotional Goods Tracking on Time?
• Where Can We Improve Costs? Dating?
• Should We Reforecast Replenishment?
• How Can Cancellation Rate Improve?
• How to Prioritize Account for Shipment?
OPERATIONS
2021
How to Conduct Vendor Meeting
• What is Safety Stock on Key Sku’s?
• Can Safety Stock be Increased?
• How Does Vendor Forecast Tie to Merchant?
• What is Transit Time from Warehouse?
• Can We Drop Ship?
• Are There Upcoming Systems Conversions?
10. QUESTIONS TO ASK SUPPLIER
10
MARKETING
• Are There Exclusive Opportunities?
• Where Can We Gain Market Share?
• How Can Vendor Market & Tag Company?
• How Can We Secure More Impressions?
• What Educational Content is Available?
• Can We Tie Back to Loyalty Program?
MARKET INTELLIGENCE
2021
How to Conduct Vendor Meeting
• How is competition performing?
• Has their strategy changed?
• Is there category/product driving result?
• Is there a promotion driving result?
• Is our business better/worse/same?
11. MEETING
AGENDA
• Walk Through Financial KPI’s
• Substantiate Forecast with Data
• Quantify Actions Taken
• Request Resources Needed
• Review Vendor Prepared Share Out
• Gain Alignment on Next Steps
• Capture Follow Up Points + Timeline
How to Conduct Vendor Meeting 11
2021
12. How to Conduct Vendor Meeting 12
Joan Braatz
Vice President Merchandising
2021
braatzjoan@gmail.com
214-733-9677
https://www.linkedin.com/in/joanbraatz/
https://joanbraatz.com/