How To Grow Your Wholesale Business in UK

To be in wholesale business in the UK is a profitable idea because the UK have great forecast for it. If you are getting good profit in your wholesale business in the UK and now you want to further increase your increase the circle of your wholesale business then exporting your products outside of UK is a lucrative option. Occupying international trade is not as simple as performing trade within a country. To export the wholesale products, you should have enough resource and sound knowledge of international market.

Before directly jumping into the exporting business, the first point is to evaluate your one export potential. Export potential consists of two major things i.e. readiness of your wholesale business and that of the products or services. In order to perform these important errands you first need to have thorough market knowledge to assess and classify the target market. Study the industry structure in which you have to step in. Try to find out the demand of the wholesale products which you wish to export in that market. Also try to find out the market competition so that you can make strategies to make your place in this race.

After research, what you have to do now is to make an export plan to follow while doing your business of exporting your UK wholesale products overseas. In making plan marketing strategy has its own importance and it is viral because it helps you in adjusting in International trade. You might also have to arrange twice as many financial resources as needed to support and back up the investment. After arrangement of financial resources, next step is to get knowledge to meet the standards and regulations of international market. To make your wholesale products appropriate for export, British Standards Institution can also guide you. And the last work you need to do for best wholesale business man is to realize the export payment mechanisms and export finances.

After resolving all the issues, now its time to understand how you would systematize your Sales Presence in overseas. Sales Presence totally depends on your wholesale product, for instance you can sell your products online, in trade shows or in exhibitions etc. There are many other ways to sell UK wholesale products overseas. These different ways will determine your success or failure in exporting business. Also try to locate distributors there sold to them then they will sell to local suppliers; you can also use a sales agent who will sell wholesale products on your behalf or put you into contact with potential customers on commission basis.
Lastly if you want to gain full control over your overseas sales then set up a local office or a franchise to spread knowledge about you and your products. This option is of course expensive but generates ultimate profits for your wholesale export business.

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6 Ways for Manufacturers to Reduce the Cost of Production

In times of economic downturns that had been prevailing in the past thirty months in the Western hemisphere, manufacturers had been compelled to take a hard look at their production costs and methods to reduce them to maintain their profitability or stem the erosion in profits to the extent possible. Several strategies can be adopted to achieve cost reduction in manufacturing process but the most important among them are presented here.

1) Cost Reduction in Product Design:

It had been estimated that nearly 80% of the cost of the product results from the product development stages. Once the products have been designed to certain quality standards and specifications, it is near impossible to reduce production costs when these products are manufactured. Hence, the cost reduction should be carefully considered and implemented in the design stages, with the costs of product development, parts, material overheads, labor, and quality analyzed in complete detail. All possible avenues in reducing costs in each of these factors should be actively pursued.

2) Lean Manufacturing Principles for Reducing Manufacturing Costs:

Lean manufacturing includes improving productivity of labor, cutting down process times, reducing inventory levels, minimizing errors or achieving zero rejection levels in all stages of production, and judicious handling of scrap. The lean manufacturing and Kaizen principles help manufacturers in enhancing the productivity levels of labor and eliminate wastes at every stage.

3) Overhead Costs Reduction:

Overhead costs reduction consists of minimizing inventory costs, reduction in procurement costs by negotiating with vendors and suppliers, and mass customization process to manufacture wholesale products with minimum inventory and at short notices to meet orders quickly.


4) Cost Reduction by Standardization:

Standardization of products, parts, and processes had been observed to bring down manufacturers costs by 50%. Organizations can benefit from economies of scale by bulk purchasing of standardized parts and reducing inventory overheads to 10% of normal levels.

5) Rationalization of Production Lines and Processes:

Manufacturers should strive to isolate products that are causing losses on the basis of production and shipping costs to sales value. These products should be removed from the portfolio, unless they have strong brand loyalties. In those situations, the overheads for these products should be cut down to reduce or eliminate losses from these products.

6) Simplification of Supply Chain Management:

The other step in reducing production costs for manufacturers is to simplify supply chain management. Implementation of Kaizen and 6 Sigma principles can also be helpful in reducing quality costs and constant measurement of total costs in all categories involved with production.

  

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