When launching a new product, it’s easy to overlook the minimum order quantity (MOQ) as irrelevant. But understanding and negotiating the MOQ with your supplier is crucial for a successful product launch.
Learn about what MOQ is, who sets it, and how to negotiate with your supplier to avoid ending up with unsold products and a disappointed partner.
What Is MOQ (Minimum Order Quantity)?
MOQ is the minimum amount of a product you can order at a time, set by your supplier. It’s important to start with a cautious approach to avoid excess unsold inventory.
Who Dictates the MOQ?
While your supplier sets the MOQ, it is negotiable. Understand the factors that impact MOQ, such as production costs, partnerships, storage, and customization requirements.
Why You Should Opt For a Low MOQ
Opting for a lower MOQ can save you money in the long run, especially when launching a new product. Focus on the overall cost rather than the cost per unit.
Get Your MOQ In Order and Use Our AI-Powered System to Find the Perfect New Products
Building a strong relationship with a reliable supplier can lead to better MOQ terms. Learn how to utilize our AI-powered system to discover the perfect new products for your business by joining our free masterclass.
Source: ( foundr.com / Financementality.com )
