IGNOU BRL 6 2017 2018 - Explain the concept of open-to-buy.

Question

Explain the concept of open-to-buy.

07 Mar 2018

Answer :

Word Count : 302

Open-to-Buy (OTB) is merchandise budgeted for purchase by a retail store during a certain time period that has not yet been ordered. In other words, how much inventory can I buy without getting myself in trouble? It is also the process of planning merchandise sales and purchases.

Open-to-Buy Planning

Good inventory control is critical to ensuring an adequate level of stock is on hand for the number of sales being generated.

Having too much inventory (or the wrong type) during certain periods can slow your cash

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