Profession wholesale merchant

Wholesale merchants investigate potential wholesale buyers and suppliers and match their needs. They conclude trades involving large quantities of goods.

Personality Type

• Enterprising / Conventional
• Conventional / Enterprising

Knowledge

• Product comprehension

  The offered products, their functionalities, properties and legal and regulatory requirements.

• Sales strategies

  The principles concerning customer behaviour and target markets with the aim of promotion and sales of a product or a service.

Skills

• Show entrepreneurial spirit

  Demonstrate a proactive attitude and determination to achieve success in business

• Negotiate buying conditions

  Negotiate terms such as price, quantity, quality, and delivery terms with vendors and suppliers in order to ensure the most beneficial buying conditions.

• Initiate contact with sellers

  Identify sellers of commodities and establish contact.

• Identify suppliers

  Determine potential suppliers for further negotiation. Take into consideration aspects such as product quality, sustainability, local sourcing, seasonality and coverage of the area. Evaluate the likelihood of obtaining beneficial contracts and agreements with them.

• Perform market research

  Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

• Have computer literacy

  Utilise computers, IT equipment and modern day technology in an efficient way.

• Negotiate sale of commodities

  Discuss client's requirements for buying and selling commodities and negotiate their sale and purchase in order to obtain the most beneficial agreement.

• Build business relationships

  Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.

• Maintain financial records

  Keep track of and finalise all formal documents representing the financial transactions of a business or project.

• Monitor international market performance

  Continuously monitor the international market performance by staying up-to-date with trade media and trends.

• Identify new business opportunities

  Pursue potential customers or products in order to generate additional sales and ensure growth.

• Initiate contact with buyers

  Identify buyers of commodities and establish contact.

• Assess supplier risks

  Evaluate supplier performance in order to assess which suppliers do or may not perform adequately, stick to the agreed contracts, meet the standard requirements and desired quality at all times or who may pose future risks.

• Identify customer's needs

  Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.

• Negotiate sales contracts

  Come to an agreement between commercial partners with a focus on terms and conditions, specifications, delivery time, price etc.

• Plan transport operations

  Plan mobility and transport for different departments in order to obtain the best possible movement of equipment and materials. Negotiate the best possible delivery rates. Compare different bids and select the most reliable and cost-effective bid.

• Comprehend financial business terminology

  Grasp the meaning of basic financial concepts and terms used in businesses and financial institutions or organisations.

Optional knowledge and skills

Source: Sisyphus ODB