Old habits are hard to break, but old habits can break YOU. Retailers go out of business because of what is illustrated above. It’s not a matter of buying the WRONG ITEMS as retailers have a great feel for what’s available and what their customers want. The problem is always one of buying the WRONG QUANTITIES because that creates excess invoices, the need to pay them (along with overhead) and consequently markdowns.
This age old problem can be corrected right now, so there’s no reason to think about doing it later (which may be to late). Putting in an open to buy system will immediately show you where you’re over stocked (and allow you to take action) and where you’re overbought (and allow you to take action).
Markdowns taken to clean up your inventory problems are a one time thing since your open to buy will limit your buying in the future to what you actually need to support your expected sales at the turn rates you want to achieve. And turnover is the name of the game, because the more you turn, the more you make. And, really, why else are you there if not to maximize your income.
So, you need an open to buy system. Now what? Do you build your own? This is not a great idea because you’ll need to do the research, try to understand the principals, put it together and get it loaded with your information. With all you have on your plate as a retailer, where are you going to find the time to do all of that and what are the chances you’ll get it right? Slim!
There are system and software available, but how do you know they will come up with the right answers? Are they guaranteed? Are you locked into a contract? Will their monthly charges impair your cash flow? Is support available all day, every day? Chances are, again, slim.
There is one system that is easy to set up and use, affordable, online, so it’s accessible from any computer, tablet or smartphone, accurate, guaranteed and has no contract. Yes, myotbplan.com is all that and more. Because of all we are, you needn’t wait to subscribe. Call today because there’s no risk and you can break the cycle and start making more money immediately.