I’ve been in the promotional products industry for more than 25 years, both selling products and programs, and coaching and educating distributor sales professionals. I’ve seen a multitude of changes in that time, but one thing remains the same: our reliance on quality suppliers.
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Question: I use the order system in QuickBooks Premier. Why don’t the customer sales order and supplier purchase order appear in my financial statements?
QuickBooks allows you to set up purchase orders as jobs. A report of profitability by job can be run after the PO has been invoiced and the supplier purchase order has been converted to a bill or paid.
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There are five versions of QuickBooks, each designed for specific applications, and the ad specialty business was not one of their selected specifics.
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Suppliers and distributors are finally moving forward in improving electronic communications. While there are plenty of hurdles still to overcome, the industry is finally moving forward and making real progress.
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The news of a well-known supplier with a long history closing their doors stunned the industry recently. This isn’t the first of such casualties and it certainly won’t be the last. There also will be losses of distributors and more consolidation. Strong suppliers will buy smaller suppliers and strong distributors will absorb smaller distributors. Some companies will just close their doors.
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We all have our breaking points in our personal and business lives. A supplier recently did get mad at me and was not controlled in responding. The experience got me thinking about different approaches to handling business situations.
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After noticing a discrepancy in my credit card batch total, I called my credit card merchant and was informed that one of my customers who had placed a $500 order for mugs disputed the credit card charge! Distributors, has this ever happened to you?
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With today’s tough economy and overall tighter company budgets, it’s no wonder your clients are becoming more demanding and wanting more from you in a shorter turnaround time. With so many balls in the air, and only two hands to catch them all, working with a smart supplier who can truly be a partner to you will make a world of difference.
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The lowest common sales denominator in our industry is the product-based sales person, i.e., promo-peddler, trunk-slammer, tchotchke-chucker, ad nauseam. The mere fact that you are reading and digesting this means you most likely aren’t one of those. I’m addressing this article to you—the thinking sales person, the promotional partner, the extension of your client’s marketing department. You Think, Therefore, You Am. (I gotta stop talking like I’m Popeye.)
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