Open to Buy Plan - Changes the Way to Manage Your Retail Inventory

1. Open to Buy Plan - Changes the Way to Manage Your Retail Inventory Managing inventory is an important aspect for retail business owners when the market keeps on changing with the trends. Take, for example, fashion industry which is inconsistent and outrageous as it often turns as anyone imagines. With latest item coming inside the market, it becomes challenging for suppliers and retailers to predict the nature of sales. You can’t control the changing industry. However, there is a way to manage inventory and generate maximum revenue from your business. It’s open to buy or OTB software program! Introduction to Open to Buy Plan As the name suggests, open to buy is a mathematical program developed by myotbplan.com to forecasts a retailers’ buying needs, almost 12 months earlier based on the anticipated sales and desired results. Demand and supply are two essential aspects of economics, relationship between the quantity of a commodity that producers wish to sell at different prices and the amount that consumers want to buy should be in equilibrium. However, it could get interfered by the inconsistent nature of the business and industry. Having an open to buy program can help in many ways.

2. Benefits of My OTB Plan My OTB Plan helps in achieving critical business goals. Whether you have a massive stock of garments or processed products or anything in between, Open to buy is sure to give fast and accurate analytical report to manage your inventory in the right manner. Improves Buying Habit Managing a large inventory of fashion clothing line, fashion accessory and other items is simple and easy. Guessing about buying may result in overbuying. OTB reduces the percentage of useless buying and overstocking. The mathematical program is extremely helpful in measuring the anticipated requirement of a particular product in the market. You are no longer roaming around vague estimation. All data will be to the point and targeted. Predict future sales Open to buy is an advanced program. It’s not like any other inventory management tools or applications that can only give the requirement on analysis. OTB can help in analyzing the present and future condition of stock in your store. It clearly shows the trends up and down in each department and allows you to make revisions to keep your buying plans accurate. Get a complete analytical report of what to buy and when to buy, so that you can have maximum sales. Add it to save time and money. Raise Profits When you know about targeted sales and required stocks, it becomes to manifest the profit ahead. Open to buy is one such independent tool that will reduce overbuying, which results in excess invoices, markdowns, and cash flow problems. Suppliers may push you and encourage you to buy more products. However, you can plan and control your profit. Generate maximum revenue from stocks, without scratching your head. Succeed in your retail business with open to buy software tool. Continue to maximize turnover, whether sales up or down and grow more profits. For more information, you can visit the website.