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Online Course
Mastering Open-to-buy
Schedule
Week 1
The goals of Week 1 are to:
- Become familiar with the navigation of the course web site
- Understand the expectations and requirements for this course
- Learn the value of forecasting open-to-buy
Week 2
The goals of Week 2 are to learn to forecast monthly department:
- Sales
- Inventory levels
Week 3
The goals of Week 3 are to learn to:
- Forecast open-to-buy in preparation for making purchases at trade shows
- Forecast open-to-buy for fill-in orders
- Prepare open-to-buy budgets prior to meeting with vendors
- Track and analyze actual monthly department sales
- Adjust inventory on-order based on actual sales
Week 4
The goals of Week 4 are to learn to:
- Reduce inventory when it is over the over monthly target level
- Integrate inventory and open-to-buy knowledge with purchasing decisions
- Check and correct the current department inventory level
- Remove open-to-buy systems obstacles
Week 5
The goals for Week 5 are to learn to:
- Track the management of inventory levels
- Experience the impact that inventory reductions have on available open-to-buy dollars
- Recognize that planning inventory reductions is part of the open-to-buy process
- Discuss methods for incorporating the management of inventory levels into routine store operations
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