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Open-to-Buy Breakthrough for Retailers

Publish Date : 9/26/2006 1:48:00 PM Source : Travel and Hotels News Onlypunjab.com

Forecasting and purchasing inventory is probably the biggest challenge small store managers face. Order too much inventory and a store can go broke before selling enough to pay the bills. Not enough inventory and customers lose interest.
According to the Small Business Administration, 80 percent of small businesses are bankrupt within five years. Cash flow is the number one reason for bankruptcies, and for retailers, inventory investment is the number one reason for cash flow problems.

Open To Buy Wizard retail forecasting software gives stores of all sizes the advanced inventory techniques previously only available to the largest retailers. The software uses a simple fill in the blanks format any manager or employer can quickly learn to use. The software is a hit with apparel, golf, gift, skate shops, or any kind of retail store than must place advance orders.

As expressed by Brett Bennett, CEO of POSitive Technology, a Microsoft Partner selling RMS, "One disadvantage that most small to medium sized retailers have in comparison to the big box stores is that until the introduction of Open to Buy Wizard (OTBW) there has not been an affordable solution for buyers to get the analysis, planning, and budgeting information they need to make their important buying decisions. OTBW is a terrific product and is now available to everyone!"

Until now, apparel and other types of stores that require advance purchasing have been using spreadsheets or other manual methods to forecast their inventory needs. Open To Buy Wizard has automated the process, importing raw data from the POS system, which reduces user data input time to zero. It is a self-managed forecasting program
that takes open-to-buy forecasting to an entirely new level of simplicity and accuracy so inventory managers can focus on managing instead of manipulating data and doing retail math.

Maggie Sagabaen, Buyer at Blackhawk Country Club said, "Since using OTBW we know we always have the right amount of merchandise in each classification, and we have reduced our average inventory by $100,000. We have a constant turnover of fresh merchandise which keeps member interest high. Sales and profits are up, inventory investment is down - it doesn't get better than that!"

Tim Ogle, President of Open To Buy Wizard, says, "When retailers discover that the initial cost of either the stand alone software or the RMS module can be recovered many times over in the first year, programs such as OTBW will revolutionize the way retailers manage their businesses."

Retailers: for further information: http://www.opentobuywizard.com

RMS users or resellers: for further information, go to:
http://www.retailertechnology.com/SOLUTIONS/Open-to-Buy.htm
Or call: RetailerTechnology (240) 404-6800

Other POS companies wanting an integrated module: for further information, call (928) 636-2105

Onlypunjab.com

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