Just had to jump in on this one…
As an old time vendor, I have to tell you all that memo is one of
the biggest headaches we have. Recipients seem to forget that Memo is
a privilege and a courtesy offered by vendors.
We maintain inventories and staff to service the jeweler’s needs at
no cost to them. How many industries allow you to work on speculation
that you might or might not be able to sell an item.
When we request a report in a period of, lets say, five to ten days,
that means exactly that.
Letting your vendor know what is going on with the memo merchandise
is allowing them to know that you appreciate their allowing you to
work on their money. I know only of rare cases where time will not be
extended if need be. All you have to do is give your vendor a call
and let them know you are staying on top of the situation. Also
remember when you have that client looking for a very expensive item
that vendor is going to be far more agreeable about giving you
whatever it is you need.
See it from the vendors point of view…Example: You memo
an item and hold it for thirty days or more. Comes back to the vendor
and must be restocked and sent out to someone else perhaps…
That often means that over the course of a year, an item may be shown
only ten to twelve times and unavailable to other buyers most of the
Memo has become the nightmare of the industry all because jewelers
can’t seem to understand that Memo is an excellent toll for doing
business but must be respected. Don’t call you vendor and tell them
that you sold their item for them. You sold it for yourself. Let them
know you appreciate their help in your making the sale. Trust
me…It will work wonders.
Casmira Gems, Inc.