Retail Open To Buy Template

Inventory management for retail stores.

Retail open to buy template.

When setting out to create your open to buy plan there are a couple of steps that you need to consider. The planning process begins with building your sales plan. An otb plan helps a retailer stock the right amount of the right. An open to buy relates directly to retail merchandise is structured specifically to address the needs of retailers and is a tool designed to assist retailers manage and replenish their most significant asset their inventory investment.

Explanatory how to articles used and loved by retailers worldwide. Free open to buy spreadsheet retail open to buy template open to buy spreadsheet template open to buy template free open to buy plan template open to buy. Open to buy is purported to be very simple as illustrated on a web site for a major market merchandise mart. The goal of good inventory management is to maintain an appropriate level of inventory for the amount of sales that you are generating.

An open to buy is a budget and involves the full range of budgetary functions. Open to buy is the dollar amount budgeted by a business for inventory purchases for a specific time period formula otb retail planned sales planned markdowns planned end of month inventory planned beginning of month inventory. The secrets to open to buy planning what is open to buy planning anyway. They suggest you take your beginning of the month inventory subtract your retail sales add your purchases subtract your markdowns and that will indicate the end of month inventory.

Webinars from the co founders lively and empowering. Steps to creating an open to buy plan. Open to buy otb is an inventory management system that works with your retail business. Online calculators for retail projections see in advance retail profits and cash flow integrated.

Learn how to create an inventory management system that scales with your retail business. However it can go a long way to helping you ensure the overall health of your retail business. The roi s members only collection includes even more for owners about inventory management and open to buy planning. It s the amount of merchandise your retail store can buy during a certain time period.