Retail is Brutal Without a Good Open-To-Buy Plan
Why is an Open-To-Buy plan so important besides keeping an adequate quantity of inventory on hand to keep the shelves full? It allows you to stock new and fresh items that will keep your customers coming back and wondering what new items you will have next. It also places restraints on merchandise commitments so the store does not receive too much new merchandise too early in the season — – or not enough.
You will be able to estimate in advance the amount of cash that will be required to be invested in inventory from month to month for the coming season and still have adequate cash available. It also allows you to set goals and compare against actual sales and make the necessary adjustments from month to month. All of these actions can happen with the right POS Software.