As we get ready for holiday shopping, when consumers want to cross things off their list, one of the most important things you can do is to highlight the merchandise that has slowed or stopped selling. So, now is the time to evaluate your inventory.
The first indicator of inventory imbalance would be your open to buy system. Since it’s based on anticipated sales and desired turn rates, it sets up ideal beginning inventories for each department for each month. Comparing your projected inventory with your actual current inventory will reveal which departments need help. Of course, your open to buy will have brought your strong selling departments up to the holiday task, but if all you sell during this season is your new merchandise, your profits from those sales will continue to be buried in your older merchandise.
Once you see which departments are over stocked, you need to find the older merchandise and make the prices more attractive, put it on display and bring it front and center. There are many ways to push merchandise and this is not a tutorial on that, but I am suggesting you put on your creative thinking cap and find a way to encourage your sales personnel to put their best efforts into moving the older merchandise. If you do that, you will wind up with a clean inventory going into January. And cash in the bank rather than an excess of inventory and invoices.
So, your first step is open to buy. Without question myotbplan.com will do the job and it’s certainly not to late to jump in. In a few hours, you can be set up and know where your inventory is too heavy or too light. You’ll also have an evaluation of your outstanding orders so you’ll know if your incoming merchandise is on target or needs to be cancelled. No one wants to cancel orders, but it’s better to endure the discomfort of unhappy reps than to start 2014 once again buried in merchandise that is eating up your overhead and profits.
myotbplan.com is the easiest, most accurate, best priced, most accessible, and best supported open to buy available. And it’s guaranteed or we give you your payments back. The January shows are not far away and with myotbplan.com you will know how much to buy for spring and summer. Now is the perfect time to call and subscribe.