Many years ago, I was giving a seminar in New York on open to buy planning. Part way through the presentation, a woman put up her hand. Her question was: “Isn’t there a simple formula like A+B+C that will give you a buying plan?” I told her that if there were, we wouldn’t be here at this trade show talking about it.
Sadly, open to buy is complicated. Happily, there’s a system that makes it as easy as A+B+C. Of course, you have to enter your information (sales, inventory and turnover), but we guide you through each step and before you know it, you have an accurate buying plan for your store in each merchandise department, for each delivery month 12 months into the future that will support your sales and give you the turn rates you desire.
So, while there’s no simple formula, there is a simple system (on the outside) that will insure that you buy the right quantities, reduce your markdowns and maintain the correct inventory level and a positive cash flow. Once you start working with myotbplan.com, your life will be as simple as A+B+C.