Open-to-Buy software: Planning for success
One of the most important aspects of managing a successful retail business is knowing what to buy, how much to buy, and when to buy it. Planning in this regard is a crucial part of keeping profits high and having a steady flow of products to provide to your customers. It can be very difficult to make the right buying decisions, however; from fluctuations in pricing to questions regarding how much to buy, it’s easy to get lost in the data. Thankfully, ChainDrive’s retail management software package includes a comprehensive Open-to-Buy software component designed to help you plan for success.
With the ability to graph data of all kinds in a variety of ways, our software lets you gain valuable insight into your business’s performance and helps you steer yourself in the right direction for making decisions. You can graph sales versus markdowns, this year versus last year, profit versus gross margins, and much more. Using visual representations of data will help you and your employees digest information easier and it will give you clear direction as to what is working and what is not working.
You will also be able to perform comparative analysis by lining up present data with historical data from your business. Use this to see what worked in the past and what didn’t; maybe you had a winning strategy that can be revisited, or maybe you’re going in the right direction right now.
These are just a few examples of how Open-to-Buy software can strengthen your planning and decision making. Pick it up and see for yourself!