Buyers have different levels of relationships between designers and suppliers throughout their careers. Some are more formal than others and the degree of commitment may differ. Relationships that are built depend on two main concepts.
1. The extent of resources and investments that are committed to the relationship.
2. The formality of the relationships, whether it’s long term and franchises or quick spot contract relationships.
There are three main types of vertical relationships (reasons for relationship building).
1. Long term contracts. These involve series of contracts over a long period of time.
2. Vendor partnerships.
Honesty and integrity are extremely important when creating relationships that involve one’s large amounts of money, time, work ethic and representation.
“You have to really enjoy business management first and product second and understand that in your career, if you really are truly a good merchant, you should be able to buy widgets, gadgets, and designer clothing exactly the same. You should be as good a buyer buying staple guns for the Home Depot as you are buying Couture.”
This quote gives an inside scoop of the profession of a retail fashion buyer. Gaining information by the buyer seems more useful to me since it’s knowledge from the actual place I’d like to be in one day.
It’s very important to know that knowledge in business management is higher in priority than the knowledge in the products. It makes me feel more comfortable knowing my Communications degree will definitely be beneficial when negotiating, advertising, targeting audiences, and building relationships.