Question
Explain the concept of open-to-buy.
Answer :
Word Count : 302
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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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