Are You Ready To Buy For Next Season?
Planning is an important part of retail success, and Open-To-Buy allocations for the coming seasons are an important part of that plan. When there is no buying plan for retail, it’s difficult to have...
Planning is an important part of retail success, and Open-To-Buy allocations for the coming seasons are an important part of that plan. When there is no buying plan for retail, it’s difficult to have...
Some retailers are great at crunching the numbers. If they want to analyze what is going on in their business, they need percentages, digits, and columns of data in order to visualize what their...
Open To Buy (OTB) planning protects your profit by establishing a safety margin of budgeted resources for the replenishment of your inventory. But the way you plan your OTB margin is really dependent on...
The process of planning your merchandise sales and purchases so that you have the ability to restock when you need to — Open-to-Buy — can be daunting. It’s necessary, though, if you want your...
One of the most important aspects of running a retail operation is the buying process. As the saying goes, “You make your profit when you buy.” So you need a open to buy plan...
About.com has a page on Open-to-Buy wherein they teach you how to calculate OTB for a typical retail business. It’s a bit oversimplified, but the concept is good to understand. It’s a good primer...
You’ve likely heard it said in real estate and stock investing that you make your profit when you buy. Nothing could be more true. It’s also true in retail. And it doesn’t matter what...
Nobody jumps into business management without a plan. From the macro level where you envision your business’s brand, its products, its customers, and its size to the micro level where you’re looking at specific...
We are taught from a very early age that planning is an important – and even required – function of succeeding in nearly any aspect of life. It’s rarely a good idea to step...
A retail business of any size must be acutely aware of its products, their availability, popularity, and so on. Everything pertaining to your assets is important, and you need to have a way to...