What Is The Goal Of OTB?
OTB — Open To Buy — can seem like a complicated secret formula involving a lot of time. But when you keep the goal of OTB in mind, this important aspect of retail planning is actually very simple with the right software. What is the goal of OTB? It’s to maintain the right inventory for your specific retail location when you need it.
That means a retail manager needs software that will allow flexible analysis and accurate assessment of all data that applies to the goal. In most retail businesses, more than one person is involved with decision making and so the software should be adaptive for changing users and business requirements. The many analytical viewpoints help the final goal to be reached by looking at all the historical and current data applying to that location during a particular time period.
Get To Your Goal By Planning Strategically
Utilizing a software that is integrated with the rest of your business means the decisions on planning can be made with all the information and a multi-channel perspective. Today’s retail environment is getting more complicated because there are so many ways to buy; it makes no sense to plan for the future with a narrow view.
Strategic planning is possible with ChainDrive Open-To-Buy. View your data the way you need to see it and change the view to look at this year versus last year, markdowns versus sales, or any other combination you need to see. And you can see it in a graph for visual comparison by year or season, just the way retail works.
Use the right tools to reach your OTB planning goals successfully.