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Welcome!

Welcome!. Open to Buy. Presenters: Brad Pinneke and Paul Erickson. Open to Buy. Major Topics To Be Covered In This Presentation. Perfect Condition Inaccurate Planning What is Open-to-Buy? Forecasting and Planning Benefits of Open-to-Buy. Open to Buy. Perfect Condition.

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Welcome!

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Presentation Transcript

  1. Welcome! Open to Buy Presenters: Brad Pinneke and Paul Erickson

  2. Open to Buy Major Topics To Be Covered In This Presentation • Perfect Condition • Inaccurate Planning • What is Open-to-Buy? • Forecasting and Planning • Benefits of Open-to-Buy

  3. Open to Buy Perfect Condition

  4. Perfect Condition Perfect Condition • This Month’s Sales Forecast is 12 Pens • How Many Do We Need? • What If They Come in 12 Colors? • How Many Do We Need Now? • What If They Come in 2 Lengths?

  5. Open to Buy Inaccurate Planning The Root Cause of Most Retail Inventory Problems

  6. Open to Buy So What Exactly is Open-To-Buy?

  7. Open to Buy Definition: A Financial Budget for Retail Merchandise • First Step to Better Control of Inventory • Provides Guidance on How Much to Buy • Creates Benchmarks on Evaluating Progress • Financial Tool • Units of Measure = Dollars • Works at Any Level

  8. Open to Buy Retailers that Benefit Most from Open-to-Buy • Apparel, Shoe, Outdoor, Gift, Jewelry, Toy, Sporting Goods, Bike, and more • Any Retailer that Carries Perishable and/or Seasonal Inventory • Any Retailer that Must Commit $ to Inventory in Advance of the Season

  9. Open to Buy Open to Buy Ingredients • At Store Classification Level • Sales • Inventory Levels • Receipts • Markdown Budget • A Dynamic Profit Plan

  10. Open to Buy Forecasting and Planning At Classification Level

  11. Forecasting and Planning Forecasting and Planning – At Classification Level • Analyzes and Modifies Store / Classification Sales Patterns and Markdown Data 6-12 Months in Future • Builds Ideal Merchandising Patterns • Identifies Profitable Trends by Classification • Forecasts Ideal Inventory Levels • Automatically Corrects for Timing of Receipts and Out-of-Stock Inventory • Recommends Open-to-Buy Based on Current Trends

  12. Open to Buy Open to Buy Benefits

  13. Benefits Open to Buy Benefits • Faster Turnover = Less Money Tied Up in Inventory • Higher Profit Margins = Reduced Cost of Goods Sold • Increased Return on Inventory Investment = Increased Inventory Productivity • Maximize Sales = Constantly Looking for Opportunity and Potential

  14. 1450 Iowa Avenue | Riverside, CA 92507 (800) 727-7672 ext 0 Visit us at www.rmsa.com or email us at info@rmsa.com

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