Open To buy- Retail Merchandising Planning
Merchandise Financial Planning
4.38 (1586 reviews)
3,419
students
1 hour
content
Oct 2020
last update
$39.99
regular price
What you will learn
Open To Buy Management- Increase cash flow for your retail business by planning your merchandise buying better
Why take this course?
In today's world of uncertainty, when retail across the world is crying, it is important that cash flow of the business is preserved for long term sustainability. One of the best ways to do is to manage the inventory of the business, where maximum cash of the retailers is invested. We can effectively do this using OTB ( open to Buy) management. OTB is a budget that can help retailers know how much they need to buy in order to manage their business effectively. With the help of this technique many retailers can save themselves from the situations of over stocking or under stocking. With the help of this course we aim to educate all retailers or people pursing their career in Retail planning as to how they can simply implement this Open to buy technique and how they can create self managed excel based rolling budgets without spending hundreds of thousand dollars on fancy tools. This course will provide step by step methodology to charter out OTB ( open to buy plan) and manage merchandise optimally.
Content
Introduction
Introduction
Lecture 2: Why Open to Buy
Lecture 3: What is Open To Buy
OTB Formula & Application
Four Part Formula of OTB
Finding The Missing Number
Application Of OTB Formula - Real time Example
In Season - OTB Management
Execution of In Season OTB Management
Creating WSSI OR Rolling OTB Template
Conclusion
Conclusion
Assignment
CASE STUDY
Screenshots
Reviews
Namitha
July 29, 2023
The calculation for Burger - forecasting and calculations are not clear and is not intended to give the right idea of calculating .
Amit
July 18, 2023
No markdown consideration while calculating OTB???,How it is possible if we don't consider markdown in the picture ,I was expecting Markdown also because it takes major role while we are considering old or closing inventory because we will be selling this merchandise at lower or after markdown price.
Taruna
January 30, 2023
I truly enjoyed the course. Very well explained. It is very informative for beginners. I really liked how you explained rolling template and the calculation part. Would def suggest it to my friends & colleagues.
Stephanie
May 26, 2022
I personally thought there could've been more simpler examples done before getting to do something as advanced as a WSSI. I feel like there was a massive jump from level 1 simplicity to creating an OTB Template. I felt like there was a gap of information missed in between
Jacquelena
April 5, 2022
She has a habit of explaining something and saying "it's nothing but the"... and I wish she would leave those words out.
Otherwise, it was helpful.
Pry
August 15, 2021
Few concepts have been well explained but important concepts like GM% and markdowns/ reductions have not been covered which are crucial parts of the OTB. The answer given to the case study question is wrong bcz it does not result in 8 Fwos for Jan which was the goal (Actualized EOP should be 13k to have 8 Fwos but it’s lower). Also, reductions is not covered in the course but is supposed to be applied in the answer. The case study is too complex for what is taught in the course and the answer to the case study has not been properly explained which is causing huge confusion. This course started well but I wish it had ended well as well.
Lisha
April 18, 2021
OTB is a budget that can help retailers know how much they need to buy in order to manage their business effectively. With the help of this technique many retailers can save themselves from the situations of over stocking or under stocking. With the help of this course we aim to educate all retailers or people pursing their career in Retail planning as to how they can simply implement this Open to buy technique and how they can create self managed excel based rolling budgets without spending hundreds of thousand dollars on fancy tools. This course will provide step by step methodology to charter out OTB ( open to buy plan) and manage merchandise optimally.
Megan
March 12, 2021
There should be subtitles so that you can better understand what all is being said but the walkthrough examples were so helpful!
Janelle
January 19, 2021
I'm not sure the formulas are correct - by including the inventory on order as equal to prior month purchases and also including in beginning inventory, it appears that the formula is double-counting the on-order amounts in opening inventory for each month.
Doc
August 21, 2020
This was a very good walk through on how the Open to Buy and WSSI work. The course starts off a little dry, but the instructor is very thorough and the examples really tie everything together. I will be able to immediately apply what I've learned here to my job. Thank you!
Jennifer
August 17, 2020
Yes, this information is exactly what I needed. I purchased it to gain a basic understanding so I can excel in an interview I have this week. The only complaint I have is that I had to stop and replay a few times because her accent is super heavy which makes it difficult to comprehend at times. So far I have been able to decipher all the information I have needed but to give you an example I have spent 45 minutes listening to 13 minutes of content. I believe closed captioning would be extremely helpful to the listener for comprehension. Some words pronounced tend to sometimes sound like different words than intended or come across garbled. Just something to think about. Thank you!
Sushani
June 30, 2020
i have really enjoyed the course and learnt lots of things in the course.
thanks to learner as well for lovely ppt and explanation on the OTB.
Charles
June 5, 2020
would like for the teacher to be more clear and slow down because she is speaking too fast however this was very useful my advice it to include quiz's and equations to test our knowledge and understanding
Lisa
May 26, 2020
Thanks that was really useful for me as a current Planner. It really got to some material i havent heard of and explained more about. This will definently help me in interview that i will be going on.
Samara
May 20, 2020
Really helpful, all formulas were well explained. I can readily use concept using the material provided.
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3055316
udemy ID
4/26/2020
course created date
1/9/2021
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