Venue: Nuremberg Exhibition Center, Messezentrum 1 90471 Nuremberg, Germany
This year comes 2857 exhibitors from 67 countries 70084 visitors. Other than our booth, I went to some famous toy brand, ex. Lego or Avengers, some expensive brand, you can only enter if you are invited.
This year, the EUR is really weak, all the product bought in USD and we are selling in EUR, we are losing more than 10%, the more we sell, the more we lose, but my boss doesn't want to cut the ordering to suppliers, as she wants to keep the inventory stock to our buyers, my mission is negotiating the annual purchasing price and extend the payment term to 90 days, most of the suppliers don't care, even to decrease price 1% they are not willing, if your order amount isn't big enough, they are also not willing to suffer any %.
What I have done is telling my suppliers that we are in the same boat, hope they can think in our shoes, in the end, I was able to maximize the revenue of 6% cost savings ($39K) by reducing the annual purchase price. - Changed B2B payment term to 90 days by negotiating the commercial contract with suppliers.
If you have any question, please feel free to leave your comment, or discuss with me.