Learn From Past OTB Mistakes For Future OTB Success
OTB -Retail Open-To-Buy — is a profitable concept when the planning works out as anticipated. When the plan fails, it can be costly but even failure is profitable when it becomes part of analysis and you learn from your mistakes. The challenge for retail management is accessing the right data, analyzing it effectively, and utilizing the results for success.
Access The Right Data
The best way to learn from your mistakes is to compile all the facts and look at what actually happened, figure out why that happened, and come up with ways to avoid the same mistake happening in the future. When your retail management software is integrated with a central database, historical data from actualized statistics can be leveraged as benchmarks.
It’s simple to find what is needed for analysis and easy to get more information if data is collected and stored efficiently.
Analyze Data Effectively
Segmented views and graphing capabilities allow various users to be completely versatile in selecting the data that is needed and viewing it the way that is most effective for planning. Retail Open-To-Buy Software is an essential part of being able to adapt inventory to the need of the moment, so planning for that flexibility requires intelligent analysis.
Because team planning provides multiple viewpoints and greater perspective, the various ways data can be analyzed need to be adaptive to the business requirements and analytical viewpoints being represented.
Utilize The Results For Success
When you have the right data and the appropriate analysis, planning can be taken to the next level and business decisions are empowered by the intelligent use of what is learned from past mistakes. ChainDrive Open-To-Buy Software has all the features needed for maximizing planning in units, dollars and/or at cost, down to sub-class. ChainDrive OTB is everything you would expect from high-end retail management software.