Retail is about dollars – dollars IN and dollars OUT. It is critical that the dollars in be greater than the dollars out, but you knew that. Every retailer knows that and yet, they continue to overbuy meaning that the dollars out will be greater than the dollars in and therein lies the problem.
Since your overhead (rent, help, utilities, and other expenses) are pretty much the same each month it’s easy to plan them. The problem is merchandise. Buying more than you sell means you will have excess invoices and problems with your payables. There is actually only one way around this problem and that is OPEN TO BUY PLANNING. If you’re not using it – you should be. If you’re still having problems, maybe you need a better system.
The right open to buy system will develop a buying plan based on YOUR planned sales and YOUR desired turn rates. This is what you need to insure that your dollars in will always be greater than your dollars out. A great open to buy plan will take everything into account so you can follow what it tells you with utmost confidence!
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, the only one that’s guaranteed and has no contract. You have nothing to lose and so much to gain. Call 310-829-5148 today with your questions or just fill out the no obligation Subscribe form online and we’ll call you. Why wait?
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