Open-to-Buy 101, A Purchasing Budget

$ 25.00

What Happens When You Don’t Use an Open-to-Buy Plan?

Poor cash flow and profitability problems
Supplier problems when bills aren't paid on time
Declining sales when the shop is too full of old merchandise
High markdowns due to non-producing merchandise
Higher insurance costs to cover the older merchandise
Higher interest expense if your inventory is financed by short- or long-term debt
Lower initial markup from lack of cash available to take advantage of promotional buys
Lower net profit

Learn four steps to creating a simple, effective OTB plan. Each can be accomplished with a point-of-sale system, on a computer using a spreadsheet program, or by using a pencil, paper, and a calculator.

The first three steps are usually done once a year and, once completed, give you a comprehensive OTB plan for the upcoming year. The final step, use the OTB plan to adjust for monthly sales and merchandise flow.

With this on-demand webinar, you receive an example of the OTB spreadsheet that can be customized for your shop!

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