What Is An "Open-To-Buy?" Knowing how much to buy and when to have it delivered. Sounds easy. However, there are two kinds of "open-to-buy" systems: Replacement and Forecasting. POS systems typically provide replacement information, but Golf, Apparel and some other Stores must place advance orders and require forecasting.
Why is an Open-To-Buy Important? Because over-stocking and under-stocking impact almost every performance standard in the shop including Sales, Margins, Cash Flow, COGS and Return on Investment. Optimum inventory planned in advance is essential.
"The Basics" once included spreadsheet or hand retail math calculations, but no more. Spreadsheets are 40 year old technology that cannot compete with database driven high speed processors that can calculate an o-t-b for every classification..
1. Spreadsheets or other personal method(s): False economy: Less than optimum retail results are very costly!
2. Open-to-buy Vendors with on site consultants: Better retail performance, but some limits and expensive monthly fees.
3. Do it Yourself, fill-in-the-blanks (OTBW) software: Best retail performance with no classification limits. A fraction of the price of other Vendors.
Your search is over! OTBW is the ultimate o-t-b software at by far the lowest price.