Open-to-Buy Should be Built Into POS Software
Controlling inventory investment is a primary reason retailers purchase POS Software/Retail systems. Properly “timing” inventory means gaining control over cash flow. A well-planned Open-to-Buy lets sales revenue pay for incoming merchandise rather than having to borrow money.
An Open-to-Buy serves as the “budget” for inventory, sales and purchases. The Open-to-Buy report is the “financial statement” for your inventory.
Open-To-Buy has helped many retailers gain financial control of their businesses. With ProphetLine’s Open-To-Buy Module added to your system, you will be able to develop and execute your buying plan easily and accurately. With a properly managed buying plan, you can improve your stock turn rates, cash flow, gross profits and return on inventory investment.
At the end of each month, you can identify and respond to trends as they develop. You can achieve optimum stock turn rates, while keeping inventories at the proper level to support expected sales. Isn’t that better than kicking yourself at the end of the year?
Most retailers know they should utilize an Open-to-Buy, but do not know how to properly develop and exercise an Open-to-Buy Plan. We can help there, too. Our on-staff retail consultants have extensive experience in OTB planning, implementation and reaction.