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Open-to-Buy Basics

Open-to-Buy Basics

$ 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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