Merchandising procedures & operations of Nilrotna Trading Corporation

Abstract

Buying houses act as intermediary between the foreign buyer and local apparel manufacturer. Buying houses hunt buyers, approach them, send sample of apparel, negotiate price, and receives confirmed order after buyer is satisfied with price and quality. Then the buying house contacts local suppliers for production of apparel strictly as per buyer’s specification in exchange of buying house commission. At the centre of all activities of a buying house is the merchandiser. He is in charge of marketing; sample developing, costing, production planning. Ensuring quality of the finished product is entirely his responsibility. For this reason he has to closely monitor production process. To do all these in strict timeline he needs to be the ultimate master of multi-tasking and must possess advanced communication and negotiation skill. To become a successful merchandiser a person needs to be a highly skilled marketing person. He needs to concentrate on multiple issues at hand, with the ultimate goal of keeping the buyer satisfied so that possibility of repeat business is increased manifold. He needs to be punctual and must keep commitment. Advanced communication skill is his tool of business. He needs to be in touch with the stakeholders all the time. Readymade Garments Sector is biggest contributor of export from Bangladesh. To achieve this achievement buying houses have great influence. Buying houses have removed the burden of dealing with foreign buyers from RMG factories, thus enabling them to concentrate on their core activity, i.e., producing quality apparel product. Buying houses have created employment opportunity for educated youth and shown the path to prosperity to numerous educated entrepreneurs. Buying houses has embraced latest trends in technology and communication media to reach buyers in remote countries. But still there is opportunity for better use of Information Technology for data mining to find out useful business insight. If scientific market research can be added to already existing capabilities of the buying house then value addition in this sector can be increased many times.