Accounting is tracking. Open to buy is forecasting. Your accountant keeps track of the numbers, your open to buy uses the past numbers to see trends and develop a buying plan based on PROJECTED sales and desired turn rates. The formulas for open to buy make adjustments to the annual turn rates and the actual calculations remove any negative open to buy figures. This insures that you have the right amount of merchandise in your strong selling months to SUPPORT your sales, but also the correct amount going into your weaker selling months to limit carry over and MARKDOWNS.
While accountants serve an important function, they are rarely retailers and don’t understand the process. Retailing is a juggling act with the goal of enabling you to sell the maximum amount of merchandise from the smallest possible inventory yielding ever higher turnover. And turn over is the key to making money in retail. The more you turn, the more you make. So let your accountant keep track of your numbers and work on your taxes and all the other accounting information that is so vital. But keep your open to buy separate as it is the life blood of your business. With the right open to buy, you’ll always keep your accountant happy because your bottom line will always be in the black. You can do it, we can help!
myotbplan.com is the best open to buy system available! It’s easier, more accurate, more accessible, better supported, and the only one that’s guaranteed. We have no contract, you have no risk! 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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