Merchandise Planning Simplified
Good inventory control is critical to ensuring an adequate level of stock is on hand for the amount of sales being generated. Having too much inventory (or the wrong type) during certain periods can slow your cash flow and reduce profits with too many markdowns. On the other hand, if you under buy and miss sales opportunities then you are not making your potential profit. A retailer can be sure to stock the right amount of the right products at the right time by using an Open-To-Buy (OTB) plan.
Open To Buy (OTB) helps retailers improve their financial performance through increased sales, leaner inventories, and reduced markdowns. Retailers can accomplish this by utilizing the built-in Open To Buy module in our product or by using one of our interfaces to many of the planning service companies in the market today.
For those retailers who perform their own Open To Buy planning, they’ll find a feature-rich solution within our product that automates much of the planning process. And, since it is part of the automation suite, all updates happen automatically. This helps speed up the planning process and increases the accuracy of the information since it is one complete turnkey system.
Open To Buy planning begins with the budgeting process. OTB allows retailers to establish budgets down to a corporate, store, department, and class level. Each level can also be rolled up into the level above it for budgeting, planning, reporting, and monitoring purposes. OTB helps in establishing budgets by displaying key information such as Sales Dollars, Sales Through, Purchases, and existing Inventory levels for the selected entity, such as department or store, while creating the budget. Once the budget is established, retailers can monitor key information at any time and are presented with up-to-date information for the selected company, store, department or class.
For more information see our OTB Overview or call and speak to a sales professional.