How To Connect With A Fashion Buyer, Tip 3
Courtesy of WeConnectFashion
TIP 3: DON’T MISS THE BOAT
OK. You’ve got orders or are planning the operational aspects of future business. Perhaps this is your first large order or your first time having your goods sourced overseas: there is a lot to be aware of. If you are not well versed in shipping or international logistics it may be worth your time to take courses at a local community college or hire a part time consultant to ensure you are covering all your legal bases with orders manufactured overseas. This is important for many reasons but most importantly because laws and federal regulations that control border protection and international shipments could cause your goods to be delayed and chargebacks issued by the retailer. In order to keep this from happening, it is recommended that you hire a logistics consultant or at the very least a freight forwarding service that will monitor all documentation from factory to customer’s warehouse to ensure everything is shipped on time and in good condition.
This is even more vital when a vendor, such as a larger retailer, requires you to ship to their warehouse, on your own expense and with all the liability. Should something happen during shipment and customs should seize your products and the retailer cancels the orders due to delays, you would be stuck with the cost of the goods, shipment expenses and potential chargebacks on previous invoices for having to re-stock their floor. This would and could cause many companies to go bankrupt over night, especially, if it’s your first large order and you were counting on a net 30 or net 60 days payment from the retailer to pay for the entire cost of the goods and shipment. Therefore, it is wise to be well prepared for international shipping regulations and laws regarding shipments to avoid long term damage to your business or brand. If you wanted to do this portion of the business yourself, we would recommend a course in international trade and logistics at a technical or vocational college such as the Fashion Institute of Technology in NYC, which will give you the specific knowledge you need, tailored for the fashion and related industries.