What Does a Wholesale Manager Do?

Wholesale managers are responsible for managing the day-to-day operations of their company’s wholesale division. They oversee all aspects of this division, including inventory management, sales strategies, staffing decisions, and more.

Wholesale managers may also be tasked with developing new business opportunities for their company. This might include identifying potential suppliers or customers, creating proposals to pitch these relationships to upper management, and overseeing negotiations once a deal has been struck.

Wholesale Manager Job Duties

A wholesale manager typically has a wide range of responsibilities, which can include:

• Developing new business relationships and maintaining existing ones with suppliers to ensure adequate supply of products
• Researching new product lines and developing new business opportunities for the company
• Negotiating contracts with vendors to ensure that terms are fair for both parties
• Monitoring inventory levels to ensure that products are available when needed
• Ensuring that products are stored properly to eliminate spoilage or damage
• Preparing bids and proposals for potential clients and customers
• Preparing budgets, cash flow forecasts, and other financial reports for management review
• Reviewing sales reports on a regular basis to identify opportunities for inventory turnover or markdowns
• Setting up computerized inventory tracking systems to monitor product sales and inventory levels
• Developing and implementing marketing strategies to promote products and increase sales volume

Wholesale Manager Salary & Outlook

Wholesale managers’ salaries vary depending on their level of education, years of experience, and the size and industry of the company. They may also earn additional compensation in the form of bonuses.

• Median Annual Salary: $76,500 ($36.78/hour)
• Top 10% Annual Salary: $122,000 ($58.65/hour)

The employment of wholesale managers is expected to grow at an average rate over the next decade.

Employment growth will be driven by the continued expansion of e-commerce and online retailing, which will require more wholesalers to manage inventory and shipping for online retailers. In addition, the continued consolidation of retail establishments may lead to increased demand for wholesalers as large retail chains continue to expand their product offerings.

Related: Wholesale Manager Interview Questions and Answers

Wholesale Manager Job Requirements

A wholesale manager typically needs to have the following qualifications:

Education: A minimum of a bachelor’s degree is often a requirement to become a wholesale manager. Some companies may also require a master’s degree. Relevant coursework includes business administration, finance, accounting, marketing and management.

Training & Experience: Most wholesale managers begin their careers in entry-level positions in the industry. These positions provide hands-on training in the daily operations of a business. Training often includes learning how to manage inventory, how to negotiate prices and how to manage cash flow.

Wholesale managers can also receive training through internships. Internships provide valuable experience in the daily operations of a business. They also allow students to network with professionals in the industry.

Certifications & Licenses: For those seeking a career as a wholesale manager, additional certifications can be a great way to increase your earning potential and competency.

Wholesale Manager Skills

Wholesale managers need the following skills in order to be successful:

Communication: Communication is the act of conveying information to others. As a wholesaler manager, you may need to communicate with employees, suppliers, customers and other stakeholders. Effective communication can help you build trust, develop relationships and resolve issues.

Leadership: Leadership skills can help you motivate your team and encourage them to work together to achieve company goals. You can use your leadership skills to help your team grow and develop by providing them with opportunities to advance in their careers. You can also use your leadership skills to motivate your team to work hard and achieve their goals.

Problem-solving: A wholesaler manager’s job requires them to solve problems and find solutions to challenges. They use their problem-solving skills to find the best way to overcome obstacles and ensure their team’s success. Effective problem-solvers are able to identify the cause of a problem and find a solution that works.

Inventory management: Inventory management is the ability to track and order the correct amount of products for your company. A wholesaler manager needs to be able to track inventory levels and order the correct amount of products to ensure the company has enough stock to meet customer demand.

Time management: Time management is the ability to plan and execute tasks within a set time frame. As a wholesale manager, you may oversee multiple projects at once, so it’s important to prioritize tasks and manage your time accordingly.

Wholesale Manager Work Environment

Wholesale managers typically work in an office environment, although they may travel to visit clients or attend trade shows. They work regular business hours, although they may occasionally work overtime to meet deadlines or attend evening or weekend events. Wholesale managers may experience a high level of stress due to the pressure to meet sales targets and deadlines. They must also be able to deal with customer complaints and resolve conflicts.

Wholesale Manager Trends

Here are three trends influencing how wholesale managers work. Wholesale managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Growth of Online Shopping

The growth of online shopping is a trend that is quickly changing the way people buy products. As more and more people turn to the internet for their shopping needs, businesses are starting to focus on developing online channels that can help them reach new customers.

Wholesale managers can capitalize on this trend by developing strong online presence. This includes creating a website that is easy to navigate and features products that are easy to find. It also means developing relationships with online retailers and working together to promote each other’s products.

More Focus on Sustainability

As businesses become more environmentally conscious, they are beginning to focus on sustainability as a core value. This means that wholesale managers will need to be familiar with sustainable practices in order to stay competitive.

One of the most important aspects of sustainability is reducing waste. By implementing recycling programs and other initiatives, wholesale managers can help their company reduce its impact on the environment. In addition, they can also educate employees about the importance of sustainability and how they can contribute to it.

A Greater Emphasis on Customer Service

Customer service has always been an important part of business, but in recent years it has become even more critical. With the rise of social media, customers have more power than ever before to voice their opinions about poor customer service.

This means that wholesale managers need to put a greater emphasis on providing excellent customer service. They need to be able to listen to customer feedback and respond quickly and effectively. They also need to be able to manage customer expectations and provide solutions to problems.

How to Become a Wholesale Manager

A wholesale manager career can be a great way to start your career in business. It offers the opportunity to learn about different industries and develop your skills in sales, marketing, and operations management.

To get started on this path, you should first identify which industries interest you and then find companies that sell products or services in those industries. Next, find out if the company has any openings for a wholesale manager position. If there are no openings, ask if they would be willing to take on an intern. This will give you the opportunity to learn more about the industry and the company and demonstrate your interest in the job.

Advancement Prospects

Wholesale managers may advance to positions such as director of purchasing or director of merchandising. Some may become general managers of their company’s wholesale operations. Others may move into executive positions, such as vice president of merchandising or vice president of purchasing. Some wholesale managers may eventually open their own businesses.

Wholesale Manager Job Description Example

At [CompanyX], we strive to provide the best possible experience for our customers. A big part of that is offering a wide variety of products at the best prices. We’re looking for a wholesale manager who can help us maintain our relationships with vendors and negotiate the best possible prices for our products. The ideal candidate will have experience managing a team of buyers, as well as a proven track record of negotiating favorable terms with vendors. They will be responsible for developing and maintaining relationships with vendors, negotiating prices, and managing a team of buyers.

Duties & Responsibilities

• Achieve or exceed monthly, quarterly, and annual sales targets by developing and executing effective account plans
• Develop strong relationships with customers and work collaboratively with them to identify new business opportunities
• Understand customer needs and requirements, and communicate these internally to ensure the development of products that meet customer demands
• Monitor customer feedback and competitive activity to ensure that the company is meeting customer needs and expectations
• Manage a team of account managers, providing guidance, support, and mentorship to ensure their success in achieving individual and team objectives
• Conduct regular performance reviews and goal-setting sessions with direct reports
• Create and maintain an efficient and effective wholesale operations infrastructure, including but not limited to order processing, customer service, logistics, and accounting
• Oversee the development and implementation of promotional programs and pricing strategies in collaboration with marketing, sales, and other stakeholders
• Analyze data and market trends to make recommendations on product assortment, inventory levels, and reordering
• Negotiate terms of sale and contracts with vendors, suppliers, and customers
• Prepare and manage the departmental budget, ensuring that expenditures are within allocated limits
• Adhere to all company policies and procedures, as well as applicable laws and regulations

Required Skills and Qualifications

• Bachelor’s degree in business, marketing, or related field
• 5+ years experience in wholesale management, sales, or related role
• Proven track record of achieving quotas and targets
• Strong negotiation and presentation skills
• Excellent written and verbal communication skills
• Ability to develop and maintain relationships with key accounts

Preferred Skills and Qualifications

• MBA or other advanced degree
• 7+ years experience in wholesale management, sales, or related role
• Experience managing a team of salespeople
• In-depth knowledge of the industry and market trends
• Familiarity with CRM software