An open-to-buy plan is a method that retailers use to budget for upcoming inventory. Here’s how to use the OTB formula for your retail store.
Open to buy is an inventory management strategy which helps retailers understand how many products they need to buy. Using an OTB formula, retailers create a plan in which they can calculate the money required to purchase future inventory orders for a specific sales period. Or, open-to-buy (...
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= Open-to-Buy (retail) For example, a retailer has an inventory level of $150,000 on July 1 and planned $152,000 end-of-month inventory for July 31. The planned sales for the store are $48,000 with $750 in planned markdowns. Therefore, the retailer has $50,750 OTB at retail. ...
What Is the Open-to-Buy Formula?OTB = planned sales + planned markdowns + planned end of month inventory – beginning of month inventoryHere are the meanings of the terms used in the OTB formula:Planned sales: The dollar amount of expected retail sales in a given period Planned markdowns...
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