Open to buy software

OTB Inventory Planning.

Demo Data Platform

Feature:
WSSI/MSSI: Monthly Sales and inventory planning
AP: Assortment planning
MFP: Merchandise financial planning
ISAP: In season assortment planning
Extended on: SQL, SSAS, SSRS, Excel, AWS, Azure

secure business using Ryndatalab data analytics

Open to Buy
(OTB/ WISSI and MISSI)

Solve business planning problem using Ryndatalab Excel addins

Assortment planning
(AP)

Manage inventory with Ryndatalab and improve margin

In season assortment planning
(ISAP)

Retail finnancial planning improve finance control

Merchandise financial planning
(MFP)

Predictive Analytics

Inventory planning

Inventory planning is one of key for retail business. Having over inventory will cause more mark down and put pressure on cash flow. Optimize inventory associated with sales forecast is one solution to estimate inventory. Take historical sales data for department, store, season dimensions forecasting algorithm, Helps to forecast future month sale. User can input lump-sum value in future month in case of smaller system.
This solution help retailer to plan inventory and revise on each month or week. For bulk demand season level summary help buy estimated assortment in beginning of inventory. Monthly Open to buy summary help for stock correction of further demand or mark down. Below given KPI help retailer to save from any kind of risk and failure. Retailer can put fund in Bank instead if inventory in stock as risk. Additional KPI can be added based on business requirement.

How much buy Inventory?

Open to buy solution for merchandise planning

Open to Buy calculation in excel connected database with Ryndata

OTB calculation and Key performance indicators (KPI)

Sales KPI

Feed sales history by month from point of sale system. Sum up sales data by store, department and month. Every month load data from source system to planning system. For small business feed data using excel only. For enterprise level data data connectivity tool help for live connection.

Inventory Turn key KPI

Inventory Turn key is yearly turn rate for inventory. If same assortment sold 3 times in year then turn key is 3. Turn key is decided based on country growth rate and Consumer puraching index and historical sales data.

End of month inventory EOM_INV KPI

Based on sales forecast and inventory turn key last month end of month inventory is calculated.

Formula for end of month value EOM_INV= ([Next month Sales forecast] * Turn Key).

Begin of month inventory BOM_INV KPI

Based on sales forecast and inventory turn key current month end of month inventory is calculated.

Formula for end of month value BOM_INV= ([Current month Sales forecast] * Turn Key).

Open to Buy OTB KPI

Estimated Open to buy value is calculated based on Sales, annual or seasonal turn key, End of month inventory, begin of month inventory.

Formula for Open to buy value OTB= [EOM inventory] - [BOM inventory] + [Sale]

On Order KPI

"On order" data is feed on each month to update suggested OTB and actual OTB adjustment.

Formula for Open to buy value OTB= [EOM inventory] - [BOM inventory] + [Sale] -[On Order]

Month Cut over Activity

Monthly cut over activity is action from end user to update last month actual data like, Last month actual sale, last month actual End of month inventory. Including current month beginning inventory. Once these values are setup. OTB summary for current month is suggested. Department with over inventory and below inventory with exact numbers are shown for further action in current month. Fluctuation on season level on inventory values are singling for buyer to further take action on mark down and season level demand estimation. Suggested OTB values are further taken in account for preparing purchase order.

Data loading for small business

Data loading using Excel (RynBI Addins)

Given assortment OTB software is based on Office Excel. User can easily prepare and load data from source data on each cut over cycle (monthly) by excel only. Underlying technology is not limited to excel only. It uses MS SQL server and OLAP technology for data store and processing. Which is well designed to store and process data up to 5 TB volume. Which is good enough for approximately 1000 store x 100 thousand products and 10 years data. For enterprise level application data ETL is design for automated way. Engineers can keep system monitoring and connect with various kind of source systems. Cloud subscription is one of the option of end user to quick start application using AWS and Azure cloud.