Open to Buy
Open to Buy is a report that helps you estimate how much inventory to order for each department within the time frame that you specify.
Last updated
Open to Buy is a report that helps you estimate how much inventory to order for each department within the time frame that you specify.
Last updated
Department Drop- down Button- Select the department that you want to report to be on using the drop-down menu
Time Frame drop-down and quantity field- The next to fields required to generate the Open to Buy report are selecting the time interval from the last drop-down menu (either weekly or monthly) and the quantity of weeks or months you want to use as an interval. This is often determined using the relative turn of a department. For example, some garden centers want to order and sell down on pottery every six months, so they would select "Pottery" as the department, fill "6" into the quantity field, and select "Monthly" in the second drop-down. This would show the "Open to Buy", or suggested order amount for each six month interval.
View- Select this button to generate new reports after changing the input fields.
Month/Week- This column identifies the start date that the report is showing data for. Using the example above, the row labeled "October 2019" will show the six month projects from October 2019 to March 2020-- a six month period. This will change to dates if you run a week-based report.
Cost of Goods Sold- The Cost of the goods you are expected to sell through the selected time interval, starting with the date or month in the corresponding row.
Ending Cost- The estimated cost of inventory at the end of the period specified in the row
Starting Cost- The estimated cost of inventory at the start of period specified in the row
On Order- The cost of inventory that you already have on a Purchase Order set to arrive in the specified time period
Open to Buy- This is the amount of inventory recommended to buy in the specified time period to reconcile the projected sales with the amount of inventory you will already have on hand, and that will come in orders you have already made.
