8 Advantages of Software For OTB Planning
One of the biggest advantages to well-designed Retail Planning is the flexibility to buy products when the opportunity appears. After all, the right product has to be on the shelf before it can be profit. When mistakes are made in planning, the right product does not make it to the shelf, and the customer goes to a competitor to find it.
This need for including open-to-buy (OTB) in planning is why retailers increasingly use software rather than relying on spreadsheets and paperwork. Well-designed retail planning software includes these eight advantages:
- Leverages historical contribution patterns to determine precise dollar distribution
- Provides meaningful comparative analysis of sales and inventory data using charts and drill-downs
- Works naturally and easily with point of sale software component
- Accurate stock level forecasting via stock to sales ratios that generate relevant receipt patterns
- Powerful top down and bottom up allocation, including the ability to lock and unlock desired results at all levels
- Flexible planning and forecasting of units, retail and cost
- Ability to plan for, monitor and maintain multiple seasons simultaneously
- Dynamic controls, segment views, critical indicators and an extensive options list
The Value of Support
Each one of these advantages is like the right product — it has to be available before it can be profitable. If the software used for OTB planning is not supported, there easily can be features that your staff does not access. Look for software that is backed by the type of support necessary to be fully available to every member of the team that uses it.
ChainDrive Retail Planning (Open-to-Buy) Software is fully integrated to the centralized database of our retail management software solution. It is backed by the professional support expected of a high-end retail management software and empowers your business to take advantage of every opportunity in OTB planning and profitable buying decisions.