OTB Budgets Explained and How to Master Them

In this episode of Elisabeth talks all about the Open-to-Buy (OTB) – a critical component of effective inventory management in retail. We explain the importance of OTB, highlighting how it ensures optimal stock levels, prevents overspending, and can reduce markdowns when used and monitored correctly.Elisabeth breaks down how OTB works, discussing the significance of understanding your inventory turnover, reading your financial numbers, and tracking and adjusting your plan regularly. She also covers the best practices for managing OTB, including the necessity of good forecasting, dynamic planning, automation, and maintaining a unified approach across departments.Join us to master the art of Open-to-Buy and transform your inventory management strategy.If you want to learn more about OTB and fashion buying check out the Fashion Buying and Merchandising course - thee is a full module dedicated to the OTB with clear explanations and examples along with a template for you to download and practise at your own pace.Links & Resources:Take the free Buyer-Ready Assessment: ⁠https://designdirectiveme.com/buyer-ready-assessment⁠Online Buying Course: ⁠Thrive in Fashion Buying⁠Connect with Elisabeth:Podcast: Thrive in Fashion Buying and Merchandising on ⁠Spotify⁠, ⁠Apple Podcasts⁠ and You Tube or wherever you listen to your podcastsInstagram: ⁠@designdirectivedubai⁠LinkedIn: ⁠Elisabeth Mac Hale⁠Website : ⁠The Design Directive⁠ If this episode was useful, please leave a review on Apple Podcasts — it helps the show reach more buyers who need it. And share it with someone who has a review coming up.