F2F Class Notes 17th February (Joseph)

Vocabulary

IP (Intellectual property) – something that is your own idea

A multi-functional business manager:

How to build and manage relationships with our factory partners?

For example: Since we are a sustainable company and looking for long-term business partners, building and managing good relationships are most important for us. There are 3 main factors in maintaining good relationships, these are as follows:

1. Respect
I think respect is very important in building and managing relationships with factories. When we discuss new designs, my boss always has a lot of new ideas to test. Sometimes the factory refuses to try and sometimes they have good ideas to share with us. I am always very patient and listen carefully in order to understand their ideas without any misunderstanding. Then I share it with my boss and explain the details. Finally, my boss accepts the factory‘s ideas that can save both time and money.

2, Trust each other
After confirming the new design, we need to discuss the price together. Normally we have our own target price for new product. Sometimes it is lower than the factory‘s quote and sometimes it is higher. I can always find a win-win situation to solve the problem. I believe in just being honest and letting them know if their price is higher than our target price, we might not sell as much.

3, Training never stop
We have very high quality control requirement for all of our orders. We check each order individually by ourselves in order to identify any problems before delivery. It is not only for the product but also the packaging method. Sometimes the factory doesn’t follow our instructions for packaging. I always supervise the packaging in advance to avoid mistakes.

A multi-functional business manager:

How to build and manage relationship with our producer groups?

For examples: Since we are sustainable company and looking for long-term business partners, build good relationship and manage relationship are most important for us . There are 3 mainly factors for the relationship as following:

1, Respect
I think respect is very important for me to build and manage relationship with factories. When we discussed new design, my boss has a lot of new ideas for test. Sometimes the factory refuse to test, or sometimes they have good ideas to share with us. I was always very patient and listening carefully in order to understand his idea without misunderstanding. Then I shared it with my boss and explained the details. Finally my boss accepted factory idea that save both time and money.

2, Trust each other
After confirmed the new design, we need to discuss the price together. Normally we have our own target price for new product. Sometimes it was lower than factory quote and sometimes it is higher than factory’s quote. I always can find win-win way to solve the problem. Just be honest and let them know if their price is higher than our suggested price, we might not sell more. Let them reconsider if they want to get big orders with a little lower price or small order with high price. Finally they accept our suggested price.

3, Training never stop
We have very high quality control requirement for our orders. We qced each order by ourselves in order to catch the problems before delivery. It is not only for the product but also the packaging method. Sometimes the factory can’t follow our instruction for packaging, I always arrange the qc & packaging training in advance to avoid mistakes.