On the surface, retailing is about merchandise. But it’s not, it’s about money. And the route to making money is dictated by math. Everything boils down to the numbers, without them you’re like a ship without a sail or an engine. Your chances of success are slim, but even so, retailers continue to try to make it all work without the numbers.
It’s sort of like the monster under the bed. Scary? Not really. The most important numbers are your buying plan. This can be put together by an open to buy plan. With open to buy, you’ll know how much to buy in each merchandise category each month for the next 12 months. Those numbers are the heart of any retailer’s success.
All of the rest of the numbers (overhead) are basically stable and for your accountant. The variable is your open to buy because your sales vary from month to month and so do your buying needs. Only open to buy can give you the information to keep your store right on target. And because there are so many numbers, you need a good open to buy to enable you to maximize turnover, carry the smallest inventory to achieve the highest sales, reduce markdowns and maintain a positive cash flow.
Sounds good, right? It is. And you don’t need a masters in Math to achieve the success you’re after. All you need is open to buy.
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 at or just fill out the no obligation Subscribe form online and we’ll call you. Why wait?
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