Inventory Management & Open-To-Buy
Every business needs a plan. Especially when it comes to buying. An open-to-buy plan is a retail inventory management tool that helps you figure out how much inventory you need to buy on a monthly basis to make your sales projections. It’s a guide for the amount of dollars you have to spend on merchandise, and constantly flexes based on how business is doing.
WHAT WE DO
Through our monthly inventory management process, we work with you to develop realistic sales goals for upcoming months and the proper inventory levels you need to make these goals. We will also come up with an inventory investment budget by classification so when you go to market, you always know how much money you should be spending…and where you should be spending it!
WHAT YOU GET
We will meet, in person or virtually depending on your location, with you every month to review/present your plan, talk about challenges and opportunities and trouble shoot any inventory and open-to-buy issues you may be facing.
We will provide monthly plans showing sales, OTB dollars, markdowns, fresh factor, turns, inventory levels and on order.
We’ll also teach you how to read a plan, play connect the dots with all those numbers and even do some pretty fancy calculations.
WHAT YOU PAY
We don’t mean to be vague, but our pricing for this service can vary. And in this case, we look at store volume, number of product categories (and significant vendors), growth and your specific needs. With some info, we can roll on a quote.
HOW TO START
Let’s go! Start working with us immediately by contacting us. Once we receive your message, we will follow up with more details about setting up your consult time.
Give us a shout to with any questions!
Fashion Networking Night Out. Marketing and Publicity Group6568 Hypoluxo Rd
Suite 181 ~ Lake Worth, Fl 33467
Office: 561-450-9461 Fax: 813-3815158
*Note, depending on your POS system, classes may also be called departments, categories, groups etc. A clothing boutique may define their merchandise classes as Sweaters, Tops, Pants etc. As a rule of thumb, any product category that is generating more than 5% of annual sales should be considered its own merchandise class for OTB planning purposes.
If anyone is considering help in the retail world, this is your team to call.