Since I devised my first open to buy system back in 1970 to salvage a retail store with growing sales, but inventory that was growing faster, I have been talking to all that would listen about the benefits of a properly constructed open to buy system. My first, rough system took me a year to put together, but it literally changed my life.
I was able to reduce my inventory by 75% (yes, you read that right) while continuing to grow my sales. My turnover went from a two to an eight. My bank account was never happier. Many years later, I refined the system and began marketing it to other retailers. First as a paper based system, then software, and then dozens of revisions and enhancements until today it’s online and the best ever.
I’m excited to talk to retailers about open to buy, my system, or anything else about retail. I truly want to help anyone and everyone whether you are or become a subscriber or not. The most fun I have during any day is talking to retailers since I know when we are done, they will know more than when we started.
Of course, I want every retailer to subscribe to myotbplan because it’s cheap and it will only help. You can’t do this in your head – I couldn’t and I was good. But without a retail dollar buying plan based on anticipated sales and desired turn rates, you’ll never get it right. There are too many reps, choices, seasons, months, categories and decisions to deal with, and without a plan to guide you, you’re going to create problems.
And your plan must be reactive. When trends are forming, you must be able to see them and change your plan to accommodate them. Of course, myotbplan does this monthly and keeps you right on target for the next 12 months.
I have the most important merchandising tool in retailing and offer it at a low price, support it 7 days a week, and guarantee it’s performance (or I’ll refund your payments). Of course I’m a fanatic!