Open-to-Buy Basics by Laurie Harsh

016 Open-to-Buy Basics – Trailer from The Fabric Shop Network, Inc. on Vimeo.
Series Two View All On-Demand Webinars > 

 

What Happens When You Don’t Use an Open-to-Buy Plan?

 

  • Poor cash flow and profitability problems
  • Supplier problems when bills aren’t paid on time
  • Declining sales when the shop is too full of old merchandise
  • High markdowns due to non-producing merchandise
  • Higher insurance costs to cover the older merchandise
  • Higher interest expense if your inventory is financed by short- or long-term debt
  • Lower initial markup from lack of cash available to take advantage of promotional buys
  • Lower net profit

Learn four steps to creating a simple, effective OTB plan. Each can be accomplished with a point-of-sale system, on a computer using a spreadsheet program, or by using a pencil, paper, and a calculator.

The first three steps are usually done once a year and, once completed, give you a comprehensive OTB plan for the upcoming year. The final step, use the OTB plan to adjust for monthly sales and merchandise flow.

 

With this on-demand webinar, you receive an example of the OTB spreadsheet that can be customized for your shop!


 

 

Member Discount To receive your discount code, rent your video by choosing “Member Price” and clicking on the green “Add to Cart” button. You will receive an email confirmation with your promo code(s). For more instructions, click here.

 

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