Boy, if I had a nickle for every time a retailer has told me they just don’t have the time to put figures into an open to buy system, I’d be rich!
Retailers are very busy people, mainly because they think they can’t afford any help. They also think (and maybe rightly so) that no one can do anything as well as they can.
But here’s the thing. If you don’t hire and train competent people you can’t grow. That’s number one. And, if you don’t hire enough help so you can chart your buying with open to buy planning, you’re going to compound your time problems trying to correct your buying mistakes. Of course, if you don’t make buying mistakes, you can stop reading.
Every retailer has a giant ego, that’s why they opened a store or a web site. But the smarter you are, the more you realize how much you need help and the first thing every retailer needs is open to buy planning. Without it, no matter how sophisticated your POS is, you’re just guessing. And guessing never works. Think about the amount of time you spend moving merchandise around to help it sell. Think about the time spend marking it down and keeping track of all of it for your accountant.
Why not spend your time in a more creative manner once you have your buying numbers from your open to buy plan? Then you can concentrate on the positive outpouring that got your store open in the first place.
So, get some help if you can’t do it all yourself and get an open to buy plan to guide your buying. You’ll save time and you’ll make money. What a concept.