Cafe, Pittsburgh, Locations. Open-to-buy is a budget forecast for purchasing future products or items that a retailer develops for a specific time period. . $1,360 if you are 65 or older. mer·chan·dise. One meaning for OTB is 'off-track betting,' which refers to legal gambling on horse racing outside of the race track. Open to buy definition: a financial budget for retail merchandise planners. Make pricing decisions. Merchandising is everything you do to promote and sell your products once the potential customer is in your store. Visual merchandising is a broad concept. gross margin divided by average inventory at cost; alternatively, it is the gross margin percent multiplied by net sales. Contribute to the definition of the merchandising and wholesale strategies (in the different markets) with the VP of Merchandising and VP of Wholesale, in line with the brand targets (both long and short term). Definition. Merchandising promotes products and increases sales in a physical space and on a digital platform. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. Specialties: <br>- Deep knowledge of the luxury industry & true passion for fashion<br>- Strong analytical skills, advanced knowledge of Excel, Powerpoint<br>- International background (have lived and travelled in various countries)<br>- Knowledge of French, English, Italian and Spanish | En savoir plus sur l’expérience professionnelle de. Records are array fetched from DISC_OTB_APPLY table, processed. Open to buy definition: a financial budget for retail merchandise planners. Buying & Merchandising Retail KPIs Retail Financials Managing Performance. Design Overview. <br><br>I have experience at managing all merchandising categories, developing and executing. Now subtract your beginning-of-month inventory ($40,000) = $16,000. This is the OTB based on the price you pay for the products on your shelves. OTC: over the counter; see over the counter medications . CHINA, JAPAN, KOREA & APAC. It begins with the planning process, is future oriented, provides guidance on how much to buy, and provides benchmarks for evaluating progress and adjusting plans. merchandising women's shoes. • Guide all the activities related to the seasonal campaign: OTB definition, master order selection, coordination of regional buyer, order review and approval with the CEO • Guide in season merchandise management: coordination with Visual Merchandising, Marketing, CRM, Clienteling, Retail Training and Distribution Meno dettagli Total = $56,000. See examples of OTB used in a sentence. This is a complete guide to the OTB (Open-to-Buy) concept in retail. Learn more. While we pursued our strategic development plan, we also achieved the right level of flexibility to react fast and effectively to the challenges thrown up by the market and the economy. which of these is an example of auditory imagery quizlet; who wrote lover on eddie's cast; what are the famous japanese culture in japan? where can i find a baby name?Responsible at Global level for: •Open to Buy/ Open to Assort:-Buying Budget definition and negotiation agreement at Yearly/Seasonal horizon, with Top Clients in Retail/Wholesale market (Global), to achieve and exceed Sales target by Channel/Country while ensuring Brand integrity and sustainable long-term partnership objectives, in line with Corporate. Effective communication is an important part of their job. If your 2023. 2. "Once as a kid I stuck a bar in spokes while riding my bike, and learned physics quickly, as I immediately went OTB. gross margin divided by average inventory at cost; alternatively, it is the gross margin percent multiplied by net sales. Merchandising Systems (AM 371) 6 Documents. They need to know how much they need to buy for the next week. It shows how much money is available to. Together with the Head of Buying and Merchandising SEA, this role will be responsible for delivering a buy strategy per season and building the most profitable, balanced, customer focused range for the country which reflects the PUMA Brand Strategy and supports any key country strategies. Pros and Cons of Online Chess: Pros: The Board is clearer, Many People found out about chess online, You don't have to travel, There are many more resources to learn chess online, etc. Bottega Veneta – Inspiring individuality with innovative craftsmanship since 1966. Merchandising is an effective technique to bring customers in the store who don’t come in the market for shopping purpose. A Merchandiser, or Retail Merchandiser, handles a store’s inventory levels and product displays. Oracle Retail Merchandising Batch Schedule. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. This is a complete guide to the OTB (Open-to-Buy) concept in retail. OTB definition: off-track betting : betting at an establishment outside a racetrack | Meaning, pronunciation, translations and examples in American EnglishOff track betting apps. There’s a method you can use to make smarter financial. Oracle Retail Merchandising Batch Schedule. : to make the public aware of (a product being offered for sale) by using advertising and other methods. These. OTB. The Oracle Retail Merchandising System (RMS), or Merchandising, is used to execute core merchandising activities, including product management, inventory replenishment, purchasing, vendor management, and financial tracking. see open-to-buy. Retailers need to track the cost of goods sold (COGS) to ensure they are profitable and reporting expenses to the IRS correctly. Definition: Marketplace Returns Policy. In other words, how much inventory can. The retailer has to provide products which are expected to be demanded by his consumers. Create seasonal, monthly and weekly plans and forecasts for sales, inventory, markdowns and gross margin. P) inventory of. merchandise meaning: 1. Chapter 7. Omnichannel assortment definition for newness and carry over with Regions, sales planning, OTB definition and in season re-forcast. - Responsible for Product development: reseach and development fabrics and trims, make sure that products meets design specs and DNA of brands. Indonesian translation: (peluang) pembelian terbuka. Experience in using analytical tools/system, retail or OTB planning is a plus; Strong analytical skills and numerical sense with. Retail merchandising is subtle. Open to buy (OTB) planning is one budgeting process used on retailers to plan inventory purchases that support healthy cash flow. Product. Definition, Benefits & Cost (+ Video Guide) Merchandising includes all the non-verbal tactics retailers use for presenting and promoting their goods in-store. Preemptive buying and merchandising decisions are only possible by looking at a. The OTB is the combined payment of the Ontario energy and property tax credit, the Northern Ontario energy credit, and the Ontario sales tax credit. The concept of merchandising is based on presenting products at the right time, at the right place, in the right quantity and at the right price to maximize sales. Hoteliers use it when looking ahead to see how many rooms are booked at which rates for a given day. Retail Buying and Merchandising. -the amount of $ to be spent from an existing budget after some purchase have been made. What does OTB mean in merchandising? Open-to-buy, often known as OTB, refers to a financial budget that is intended for purchasers of items. Attend trade shows and travel to find new brands or manufacturers. Records are array fetched from DISC_OTB_APPLY table, processed and committed to the. The delivery of effective stock management and management of the team resources; Build and maintain effective working relationships with suppliers; Assist in the preparation of budgets, sales and profit targets; Quantification of ‘Open to buy’ with phased commitment to increase flexibility throughout the season; Proposing and agreeing OTB. This definition can also differ based. Let me explain this with an example. OTB Meaning. Berikut. The Complete Guide. 1 CPR & IPMR Purpose and Use, Slide 5 •1. S. When this occurs (in the batch program orddscnt. 1551, dated April 20, 1994 and published in the Recipient’s Official Gazette on April 24, 1994. - E-Merchandising & E-Store Management of the five online catalogues. An open-to-buy can work on any level that a retailer needs it to. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. Open to buy definition: a financial budget for retail merchandise planners. rajnish kumar • 1. Retailers use the retail planning process, data-driven analysis and forecasting to determine which products to stock, how. To buy and sell goods; trade commercially. pc), Open To Buy (OTB) must also be updated to ensure that budgets reflect reality. Reach Optimal Inventory Levels by Having the Right Amount of Stock. Open To Buy + 1. Cost of Goods + Retail Markup = Retail Price. The theory goes: create a favorable retail environment, and increase sales. 1. MERCHANDISE definition: 1. ” This term is often used interchangeably with the more specific term “customs plastic bag. For example, manually created. When customers walk into the store, they don't consciously think about the sensory experience. Responsibilities for retail planner. 2. A fashion buyer typically will: Build & plan a product assortment and decide on depth vs. 2. Mengutip Indeed, perbedaan masing-masing jenis merchandising ini biasanya mempertimbangkan beberapa faktor, seperti stok produk, organisasi, harga, dan tampilan (display). Product. This background job is composed of two-step processing. What is OTB meaning in Banking? 1 meaning of OTB abbreviation related to Banking: 1. The better you project your retail sales, the better you will manage inventory and make sure that you are not overstock. gen 2022 - lug 2023 1 anno 7 mesi. Contribute to the definition of the merchandising and wholesale strategies (in the different markets) with the VP of Merchandising and VP of Wholesale, in line with the brand targets (both long and short term). Traditional USB was used with standard connectors for a range of devices, including laptops and desktops computers, smartphones, mobile devices, flash drives and cameras. gen 2022 - lug 2023 1 anno 7 mesi. Sell-through pricing (STR) is an significant measurement of monthly revenues contrary a given target. Chapter 7 : Planning MerchandiseThe meaning of MERCHANDISE is the commodities or goods that are bought and sold in business : wares. Pre-season planning: Trend Forecasting. Press Tab to Move to Skip to Content Link. Brink, Gaming, Pandemic. Results-driven team-focused Supply Chain planner, with 6 years of experience in Supply Chain planning: developing, executing, and maintaining merchandise financial plans and strategies to support merchandising, marketing, and financial objectives. This involves initial allocations in the right quantities, ensuring continuous replenishments, effective visual displays and actioning inter-branch transfers if. You’ll need to determine your initial markup (IMU) on each. Open to Buy (OTB): The Complete Guide. An effective OTB prevents loss of sales due to unavailability of required stock. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. Plan merchandising definition is simple – It is a simple strategy of planning, selling, and buying merchandise for maximizing your ROI (Return of Investment). Moreover, they also use discounts and coupons with attractive display signs for increasing sales. Las actividades del merchandising comenzaron a finales del siglo XIX con la instauración de establecimientos más. OPEN TO BUY DEFINITION. O. , or the selling of these products 2…. In short, it shows the current confirmed occupancy and revenue for the future. 1. sales figures. That’s where Open To Buy planning – which is also known as OTB planning, supply planning and merchandising planning – comes in. You can plan merchandising budgets for future items based on historical data of how well products in t-shirt, shoes, and purchase categories have sold. Giving away demos or sample products. Merchandising involves working closely with in-store teams, manufacturers, advertising agencies, marketing departments, and management. Retail merchandising covers everything from how you visually arrange your merchandise to the traffic patterns in your store, how you display items to promote add-on sales, to signage, and for apparel retailers - the power of the fitting room. Components of merchandising planning. April 6, 2023. Definition of visual merchandising. The best of the apps to enjoy off track betting come from these three sites: FanDuel Racing. 1 Over Target Baseline (O TB): An OTB is an overrun to the CBB which is formally incorporated into the PMB for management purposes. I talk about how to find your board, wha. Below is a break down of the basic math formulas retailers should know in order to run their business’ effectively. Chapter 7. Brands will need to work hard to differentiate and stand for something meaningful, emotional and important to consumers. Definition: Walmart Marketplace Seller Appeals. Follow up OTB application throughout the season with insights and analysis; Develop, maintain, and update tools & reports to. merchandise a movie star. In omnichannel retailing, merchandising helps to connect an online brand experience with a physical retail store. OTB. Seven-Step Procedure for Calculating the Six-Month Merchandise Plan/Budget. Term. Home»»Merchandising strategies are specific techniques that marketing professionals use to convince customers to purchase a product. It typically means "Off The Board" and "Off-Track Betting. Retail merchandising. What is Open To Buy Plan (OTB) definition. That means no one can bet on it until the sportsbook puts it back up for betting. OTB = besarnya uang yg dapat dibelanjakan untuk pembelian barang persediaan pada periode tertentu. Term. rajnish kumar •. Improved Inventory Management OTB. You can plan merchandising budgets for future items based on historical data of how well products in t-shirt, shoes, and purchase categories have sold. In the simplest terms, open-to-buy (OTB) is a financial budget for merchandise buyers. Beginning Inventory (in $ or Sku Count) + Purchases – Endoing Inventory = Goods Sold (in $ or Sku. Argentina; Bolivia; Brasile; Canada; Cile; ColombiaJenis-Jenis Merchandiser. Set up appropriate system parameters, profiles, safety stocks, display minimums, , to achieve store/item in stock goals and objectives. The Complete Guide. View credit amounts for previous benefit years. merchandising meaning: 1. After the buyer completes the Pre-Plan Stage, including the environmental scan of both the business and the domestic and global environments, and the Information Gathering Stage of analyzing numerical data from the previous year, same season, the buyer is prepared to. MMU$. Deliver the planned sales and profitability of your department by managing and optimising the categories through effective planning and trading. Grofers sell yogurt. Nevertheless, it's easier to keep concentration OTB than online. In the simplest terms, open-to-buy (OTB) is a financial budget for merchandise buyers. : the activity of selling products that are related to something (such as a television show, movie, or sports team) in order to make more money. The MMU reveals the impact of markdowns (reductions) on the IMU. This plan aims to ensure better inventory management and make the best use of their purchases. Calculate your OTB. Here are examples of responsibilities from real merchandise buyer resumes: Prepare the merchandise assortment plan for the company, manage the OTB and purchase the merchandise. Tujuan utama merchandising adalah untuk menyediakan barang di toko, pada jumlah, waktu dan harga yang sesuai untuk mencapai sasaran perusahaan. P Inventory Plan = Open-To-Buy. Both the merchandising display space and purchasing should be tied to merchandise sell through and inventory turnover. Assist the Buyer in developing the merchandising strategy, and assist with sales analysis in order to identify and react to trends in-season. MMU$ = (Original Retail - Reductions *) - COGS * Reductions = Markdowns + Employee Discounts + Customer Discounts + Stock. Improved Inventory ManagementOTB. Thread assignment program will filter eligible records from open-to-buy (OTB) table based on calculated End-of-Week purge date as derived from the current date which is at least one half old. CBB is not adjusted as a result of the OTB. 1. Publish quarterly store guidelines with the visual team to map out and. The final stage of budgeting process- planned purchase. an OTB and/or an OTS. Read more: Communication Skills:. Retail Management Workshop 29. What is OTB? Open-to-Buy or. " True story. Retail Buying Plan Template Components. Northern Ontario Energy Credit (NOEC) – This credit is a tax-free payment that helps Northern Ontarians pay for high home energy costs. It is a tool to enable. planned purchase= planned sales +planned reduction + planned EOM- BOM. 12. Merchandising includes the determination of quantities, setting prices for goods and services, creating. dic 2016 - apr 2023 6 anni 5 mesi. A. OTB is allotted to three purchasing categories: Order of non-basic goods (N/B)The definition of OTB in the dictionary is betting at an establishment outside the racetrack. It describes an action. Therefore, the retailer has $50,750 OTB at retail. Definition of Master Order (Menswear and Womenswear: RTW, Bags, Shoes, Slg) for all EMEA DOS (14 doors) Allocation and sizing for every DOS. The OTB is usually paid out on the 10th of each month starting from July of the previous year. O. A veces se conoce en español simplemente como comercialización. Term. Retail Price – Markup = Cost of Goods. Try Shopify free for 3 days, no credit card required. Toolio is a cloud-based Merchandising Platform that automates critical workflows, provides real-time insights, and enables remote collaboration, empowering retailers to make faster, data-driven. This is a complete guide to the OTB (Open-to-Buy) concept in retail. OTB is a financial planning tool designed to make it easier for businesses to manage inventory. 1. In EVM terminology, the sum of the budgets. For example, a mass merchandiser may have a division for clothing, one for grocery, and so on. Merchandisers interact with a wide variety of people including manufacturers, business owners, suppliers, stores and retail staff. Use the Open to Buy budget and allocate it to the different products. Buying & Merchandising Overview. I- Le merchandising d’organisation. Set up appropriate system parameters, profiles, safety stocks, display minimums, , to achieve store/item in stock goals and objectives. Open to buy ( OTB) refers to the residual balance of current purchase allotments, calculated as total planned purchases for a period less receipts and merchandise on order. The system connects to all relevant business units creating easy-to-understand dashboards that provide optimizations recommended on the fly. : the activity of trying to sell goods or services by advertising them or displaying them attractively. Milano, Lombardia, Italia. OTB calculation shall one of the most important tasks to master when getting a merchandise business. How to use merchandise in a sentence. RETAIL MERCHANDISING 2. Product promotions in merchandising include adjusting prices to manage profit margins across products and selling locations and designing attractive displays. - derived based on planned purchases. Career progression in Finance and Control tied to Merchandising, Business Development, and Demand Planning roles, leading to setting up best practices and managing cross-functional. Minimize COGS to increase MMU. This is a complete guide to the OTB (Open-to-Buy) concept in retail. If you get bump-and-run (Cover 1), it is a speed move. Retail merchandising is an art and science. The Open to Buy process is used to calculate how much inventory the business should buy. Unit 6 • • • • • • • Stock Turnover Lead Time Safety stock Capital Turnover GMROI OTB Six month merchandising plan Stockfashion merchandising lecture setting merchandise budgets introduction to monthly otb planning introduction to wssi introduction to weekly otb planning at linePart of a merchandiser's role is to create and assemble visually distinct and compelling sales displays for products on a store's sales floor. Pre-season planning: Trend Forecasting. Merchandising is the promotion of the sale of goods that can employ pricing, special offers, display and other techniques designed to influence consumers’ buying decisions. It’s art + science. OTB means an indigenous community or a rural community or a neighborhood association (Organizaciones Territoriales de Base) established in accordance to the Recipient ’s Law No. Rather, the colors, sounds, smells, temperature, and the way the merchandise feels combine to deliver an experience to the customer psyche that they may not even realize. While it should be used by nearly all retailers, it is especially important for multi-location or multi-channel retailers to ensure productive inventory across all locations and channels. An OTB system looks at your current inventory plus your planned sales, and compares that data with data from your actual sales. Group: The next level below division is group. The phrase “off the board” comes from the fact that if you are looking at a board with sports bets on it, the. Additionally, we provide a multitude of merchandising and operational services for Kroger s General Office, divisions, and stores, all while being employee-owned. Preemptive buying and merchandising decisions are only possible by looking at a. Merchandising refers to the act of promoting the sale of goods and services in a store by way of retail sale. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. That’s where Open To Buy planning – which is also known as OTB planning, supply planning and merchandising planning – comes in. OTB planning is an inventory management practice used by all types of businesses, though it’s especially useful for retailers selling large numbers of SKUs—like fashion and apparel brands. Another stipulation was that no OTB parlor was allowed to operate within 60 miles (97 km) of a track. He is a. Open-To-Buy. You will learn about: OTB Definition. Menjadi terminal dalam berbagai jenis sistem serat optik, terutama di bagian pendistribusian ke terminal jaringan mini. mag 2022 - Presente1 anno 6 mesi. March 10, 2023. In this report, we’ll break down six important merchandising trends that draw from traditional approaches but incorporate modern digital tools to better serve customers. An OTB is a project management tool that may be implemented when the cost overrun to the CBB or PBB1 is formally incorporated into the PMB for management purposes. He runs 6-8 yards over the ball and sits down, giving the quarterback his eyes. g 2 years) without. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. Open-to-buy (OTB) is a merchandise financial tool that helps retailers plan and control their inventory levels and cash flow. Watch Live Horse Racing Video & Replays. 2. OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations. The visual merchandising can be defined as the art of displaying goods and services in a store and decorate stores to grab the attention of customers and to lure them into spending their money in the store. merchandise requirements. For example, a mass merchandiser may have a division for clothing, one for grocery, and so on. Open to buy (OTB) planning looks at merchandising from a financial perspective to help business owners make better inventory management decisions. An open-to-buy plan determines how much of each class of merchandise you or your buyers can purchase. OTB planning is an inventory management practice used by all types of businesses, though it’s especially useful for retailers selling large numbers of SKUs—like fashion and apparel brands. May 10, 2023. Open-to-buy (OTB) is an inventory management strategy and formula businesses use to create buying budgets for specific periods of time. 12. Learn more. Whether a supermarket stocks mangos from Brazil, or beef from Japan, it will be the buyers who made the decision. <br>Demonstrated history of managing a profitable digital commerce business including trading, merchandising, planning, traffic acquisition, CRM, UX/UI, contents and P&L. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations OTB planning takes into account a variety of factors, including sales projections, historical data, and current inventory levels. See full list on shopify. pc), Open To Buy (OTB) must also be updated to ensure that budgets reflect reality. Manage the bi-monthly forecasting of sales and inventories through the OTB review process. Pasalnya,. It is the amount you need to buy products with, in order to achieve the set sales budget for a certain period, usually 6 months. You could get a maximum of: $1,194 if you are between 18 and 64 years old. To compensate for the additional time on studying, you can cut back a bit on the tactics training. Demonstrated expertise in attaining financial results that maximize sales, meet business objectives, and. Born in Vicenza the house is rooted in Italian culture yet maintains a truly global outlook. what is context in semantics; how far is redwood national park from san francisco; what to do when a pitbull attacks your dog. <br>With responsibilities in key areas such as retail operations, buying, sourcing, planning, merchandising, product development, international negotiation, strategic. Stores like the Target above offer a large breadth of assortment at a store level, but depth of assortment at an item level. Merchandising adalah salah satu strategi penting dalam bisnis. 1. Master order presentation to the Creative Directors. Vocabulary is bolded and italics is sample questions for exam otb: planned sales planned markdown inventory on hand merchandise on order merchandise needed. Also check out the Dictionary of Personal Finance Terms and the Business Terms Dictionary. When followed correctly, an OTB plan increases margins, profits, and cash-flow, revealing how much money is available for reinvestment. To download an app, you’ll need to head to the app store if using an Apple device or download from the site itself if using an Android device. see open-to-buy. Initiate and develop actionable analysis to recap business by. For more information and articles, see the Business Resource channel and the Finance channel. goods that are bought and sold: 2. Who uses an open to buy plan: OTB is used by all types or retailers, big and small! OTB plans can be. An effective OTB will help reduce such markdowns. Open-to-Buy (OTB), the management of purchasing dollars in relation to sales and. OTB planning is an inventory management practice used by all types of businesses, though it’s especially useful for retailers selling large numbers of SKUs—like fashion and apparel brands. America. The definition of this level can differ based on the needs of your company, but is commonly used for grouping broader categories of product within the organization. Definition: Prohibited Products Policy and Product Limitations for Marketplace Sellers. EN . Sales analysis and reporting to monitoring performance, finding markets opportunities and strategies to react at business loss. Seasonal assortment, or seasonal merchandising, is the strategy of keeping and managing inventory in alignment with seasonal trends and fashions in your industry. The film made a lot of money thanks to. An open-to-buy (OTB) plan tells you how much of each class of merchandise you need to purchase each month. An OTB is a project management tool that may be implemented when the cost overrun to the CBB or PBB1 is formally incorporated into the PMB for management purposes. You won’t get to 12 yards. 1 Over Target Baseline (O TB): An OTB is an overrun to the CBB which is formally incorporated into the PMB for management purposes. OTB can't be determined unless the amount of stock on hand is known. com Open-to-buy (OTB), then, is essentially a budget for future receipts contained to a point in time. Definition. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. Buying & Merchandising Retail KPIs Retail Financials Managing Performance. It tells you how much you can spend on new orders. Milano, Lombardia, Italia. Clothing and accessories retailers may want to opt for mannequins, while a boutique shop may choose to devote a bespoke fixture or display case to cross-merchandising. Open-to-buy definition: a financial budget for retail merchandise planners. You’ll work face-to-face with merchandising team members and partners, which means listening to their concerns. Retail Buying and Merchandising. Opens in a new windowOpens an external site in a new window. Responsibilities for retail planner. pc), Open To Buy (OTB) must also be updated to ensure that budgets reflect reality. Merchandise Planning/OpentoBuy (OTB)OverviewThe Merchandise Planning/Open-to-Buy system provides management with a tool to measure and control. The maximum amounts that single individuals and families can receive are $172 and $265, respectively. "Stand on the curb and wait for the bus. Contribute to the definition of the merchandising and wholesale strategies (in the different markets) with the VP of Merchandising and VP of Wholesale, in line with the brand targets (both long and short term). OTB, at most, sitting for a very long time can be uncomfortable, and keeping a straight back is hard once the game has gone on for long. These configurations fall into two. By understanding inventory needs from a financial perspective, including revenue and margin, retailers gain insight into their open-to-buy process and ensure the organization will not overspend merchandising budgets. On The Brink. The one-word answer to that question is MERCHANDISING. OTB, or open-to-buy, is a merchandise planning formula that allows retailers to define a specific budget for future inventory orders over a set time frame. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations. Failing to compute the open to buy budget may be disadvantaged on the business, due to stock specific that will soon arise from improper planning. Term. Open to buy definition: a financial budget for retail merchandise planners. Senior Manager Buying & Trading Ecom - Emerging Markets Hub. At the beginning of Jan month, we are planning for the next 4 weeks. Dictionary of Business Terms: OTB. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations Gucci. P) inventory of.