Definition of “Received Receptacle from Abroad (OTB)” When an item is received from a foreign country, it may arrive in what is known as an “OTB,” or “Received Receptacle from Abroad. Open to buy (OTB) planning is one budgeting process used on retailers to plan inventory purchases that support healthy cash flow. The kit is the merchandise, while the large poster in the window of a famous athlete in next season's. 1. Retail shrinkage occurs when a company loses inventory from causes other than sales. What is OTB? Open-to-Buy or OTB is an inventory planning strategy that helps retailers accurately work out how much inventory to buy, according to units, cost or revenue Open-to-buy is a budget forecast for purchasing future products or items that a retailer develops for a specific time period. Based on the above calculations, you determine that your OTB at retail is $16,000. Under the direction of Matthieu Blazy creativity lies at the heart of all that we do. View UNIT 6 (1). "Once as a kid I stuck a bar in spokes while riding my bike, and learned physics quickly, as I immediately went OTB. That means when planning what merchandise to stock, you're bound to face a few challenges. 2. • 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. At a retail in-store level, merchandising refers to displaying products that are for sale in a creative way that entices customers to purchase more items or products. This is the OTB based on the price you pay for the products on your shelves. In the simplest terms, open-to-buy (OTB) is a financial budget for merchandise buyers. Retail Buying Plan Template Components. Visual merchandisers also analyze all of the behind-the-scenes data that proves what is effective and. Introdurre un termine da cercare. In omnichannel retailing, merchandising helps to connect an online brand experience with a physical retail store. In my career path,. It takes into recognition your sales, margins and desired stockpile level, and applies a constant ingredient for determine how much inventory you should buy. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. Stores like the Target above offer a large breadth of assortment at a store level, but depth of assortment at an item level. The purpose of an OTB is to project sales by Class and is an inventory management tool. Tujuan utama merchandising adalah untuk menyediakan barang di toko, pada jumlah, waktu dan harga yang sesuai untuk mencapai sasaran perusahaan. Moreover, merchandise planning is about striving to. April 6, 2023. Key responsabilities: • Coordinate the assortments definition and orders creation of both LATAM and APAC DOS; • Review the budget for all subsidiaries, control the broadness and depth of the buy (OTB) and merchandising mix; • Coordinate the planning of. 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. Berikut beberapa implementasi dari Optical terminal box (OTB) atau Fiber Terminal BOX (FTB): Digunakan di sistem jaringan telepon, sistem transmisi data, serial televisi kabel CATV dan juga kabel dalam ruangan. What is OTB in merchandising? In the simplest terms, open-to-buy (OTB) is a financial budget for merchandise buyers. 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. OTB - What does OTB stand for? The Free Dictionary. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. Academic year: 2015/2016. Lead, manage and develop your retail merchandising team working closely with peers to help create a best in class merch function. Misalnya, jika nilai pembelian barang yg direncanakan pada bulan tertentu Rp10. Attend trade shows and travel to find new brands or manufacturers. : the activity of trying to sell goods or services by advertising them or displaying them attractively. Vote. This plan aims to ensure better inventory management and make the best use of their purchases. Here is a simple Open-To-Buy Formula: B. That’s where Open To Buy planning – which is also known as OTB planning, supply planning and merchandising planning – comes in. In other words, it helps. negotiating bulk agreements with suppliers. The merchandise planning process is a critical one in the retail industry that involves effectively managing the assortment, inventory, pricing, and allocation of products to maximise profitability and meet customer demand. Buying & Merchandising Retail KPIs Retail Financials Managing Performance. This is a complete guide to the OTB (Open-to-Buy) concept in retail, and a detailed step-by-step explanation of the entire process. Merchandising = Managed. Also check out the Dictionary of Personal Finance Terms and the Business Terms Dictionary. Merchandise yang akan dijual penting untuk dipilih dengan benar. RETAIL MERCHANDISING 2. goods that are bought and sold: 2. Experience in using analytical tools/system, retail or OTB planning is a plus; Strong analytical skills and numerical sense with. Skilled in management, Trend Analysis, Negotiation, Sales, Retail, merchandising. Retailers use more cross-sells and bundles. Merchandise processor. In other words, how much inventory can. OTB planning takes into account a variety of factors, including sales projections, historical data, and current inventory levels. Manage open-to-buy to ensure continual flow of merchandise to stores and warehouses with careful attention to advertise events and promotions. The best of the apps to enjoy off track betting come from these three sites: FanDuel Racing. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. What is OTB? Open-to-Buy or. This is a complete guide to the OTB (Open-to-Buy) concept in retail. OTB Over the bars. To buy and sell (goods). Something may be “bloody marvellous” or “bloody awful“. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations Gucci. sales figures. Operational management of key merchandising tools (eg WSSI & OTB) to maximise opportunities and limit risksOTB definition: Off-track betting. The following is a breakdown of the steps in retail inventory management. 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. Retail merchandising helps to encourage customers to shop in your store rather than a competitor’s. Giving away demos or sample products. abbreviation for off-track betting on races. The principle concept of merchandise planning consists of four equally crucial steps: Post-season analysis: Past Performance Reporting. Typologie : les 3 types du merchandising. View Homework Help - merch planning and allocation OTB worksheet . Net Sales. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. It gives you a clear budget to spend on purchase orders for new products, resulting in increased revenues and margins. Retailers use merchandising to influence customer intent and achieve sales goals, whether digital or in-store. The first challenge is finding the balance between the right product and the right quantity. 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. When we talk about merchandise, we are talking about products available for sale, typically in a retail setting. 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. You can also calculate your OTB at cost. Based on the above calculations, you determine that your OTB at retail is $16,000. Formal reprogramming is a comprehensive replanning of the remaining performance measurement baseline (PMB) that results in a total budget and/or total schedule in excess of contractual requirements. Typically this software is for Windows or Mac. Definition. This button displays the currently selected search type. Merchandise is what a retailer carries in stock and makes available for sale. Since the sales process often starts with the eyes, retail merchandising typically. 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. Therefore, the retailer has $50,750 OTB at retail. II- Le bon moment. Retail Price – Cost of Goods = Markup. Creating signs for shelves, store windows or billboards. OTB billing is the of of most major tasks to boss when starting a merchandise business-related. This guide provides basic guidance on the concept of formal reprogramming and defines the over target baseline/over target schedule (OTB/OTS) process. . At larger stores, the manager might be able to order more variations of products, so customers can ask for certain products in their preferred size and color. Redistribution of a budget bucket budget after an OTB check on a purchasing document with a negative result. We are a one-stop rugby shop offering an extensive range of products from balls, training. O. Group: The next level below division is group. pc), Open To Buy (OTB) must also be updated to ensure that budgets reflect reality. Responsibilities for retail planner. Definition of visual merchandising. All Definitions of OTB As mentioned above, you will see all meanings of OTB in the following table. The goal is to create a consistent and seamless experience, no. Learn more. Merchandiser memang biasanya bekerja di industri retail. 1. So let’s plug in some values to see how the formula works: Assume we start with a Beginning of Period (B. An open-to-buy plan determines how much of each class of merchandise you or your buyers can purchase. OTB Definition Retail Buying Plan Template Components Open to Buy Budgeting Steps Importance of OTB Retail Buying Plan Considerations. 2. Effective communication is an important part of their job. Since 1989, P. An effective OTB prevents loss of sales due to unavailability of required stock. I have a Master in Fashion Direction from Politecnico di Milano and Milano Fashion Institute. O. Visual merchandisers also analyze all of the behind-the-scenes data that proves what is effective and. That’s where Open To Buy planning – which is also known as OTB planning, supply planning and merchandising planning – comes in. 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. (Week because yoghurt Shelf-life is short). Istilah ini berkaitan dg manajemen persediaan barang dagangan. Definition: Under-performing Item Removal Policy. Join other retail owners, executives, buyers, merchandisers, operators and retail consultants who’ve used our materials and resources to up-skill themselves and their teams. planned purchase= planned sales +planned reduction + planned EOM- BOM. Indonesian translation: (peluang) pembelian terbuka. When this occurs (in the batch program orddscnt. On-site. FORECASTING OTB - EXAMPLES Forecasting OTB based on Planned SalesIf the 10 th of the month falls on a weekend or statutory holiday, the OTB payment is issued on the last working day before the 10 th. The maximum amounts that single individuals and families can receive are $172 and $265, respectively. Factors Affecting Retail Prices; The Different Pricing Methods; Pricing a Product Portfolio; Take. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Read More » Bargaining Power of Suppliers Bargaining power is the relative ability of each of the negotiating parties to reach an agreement that works to their own advantage. Brands will need to work hard to differentiate and stand for something meaningful, emotional and important to consumers. E-commerce and digital director with progressive experience in the online and omnichannel retail and fashion industry. Main responsibilities: - Responsible for sales planning by category and collection and OTB allocation (corporate e-commerce and marketplaces); - Matching the Master Order instruction with global needs targeting and balance merchandising assortment with 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. 1. Design Overview. Automate your OTB plan using Retalon's open to buy software. 4 The two key elements in the merchandise planning process are the. 1. In EVM terminology, the sum of the budgets. (Some sites will require Android users to use the. Follow up OTB application throughout the season with insights and analysis; Develop, maintain, and update tools & reports to. Essentially, OTB is a purchasing plan which takes into account current inventory levels and projected sales for a set time period. A Merchandiser, or Retail Merchandiser, handles a store’s inventory levels and product displays. 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. Job Description. These configurations fall into two. It's the amount of merchandise your retail store can buy during a certain time period. 1. Design Overview. Considering that 60% of small business owners feel they don’t have enough knowledge about accounting and finance, it’s a good idea to understand how COGS can impact your accounting and sales. An effective OTB will help reduce such markdowns. Generic class containing image metadata used in OTB. Omnichannel assortment definition for newness and carry over with Regions, sales planning, OTB definition and in season re-forcast. Technology, SAP, Fashion. Create respective store. Fortune At The Bottom Of The Pyramid retail rajnish kumar itc. It’s art + science. 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. Oracle Retail Merchandising Batch Schedule. Merchandise yang akan dijual penting untuk dipilih dengan benar. Retail merchandising is an art and science. The next step is to calculate your OTB using a simple formula: OTB = Planned ending inventory - Projected ending inventory + Planned sales. Definition: Marketplace Returns Policy. Read diese magazine to learn better about sell-through rate. The guide is designed to inform you about the ‘backend’ of RMS: data inputs, processes, and outputs. This background job is composed of two-step processing. The theory goes: create a favorable retail environment, and increase sales. Definition. Learn a new word now! Get a Random WordWe call it customer-led category management (CLCM). Entrepreneurial mindset with sound commercial judgement,. An open-to-buy is a financial tool, in that the units of measure are typically dollars, usually retail. Traditional USB was used with standard connectors for a range of devices, including laptops and desktops computers, smartphones, mobile devices, flash drives and cameras. Depending on the approach, all or a portion of the OTB is incorporated into the PMB. Term. TwinSpires. what cocktail to drink with fried chicken; how old is jess in bend it like beckham; why does hank hate luanne Menu Toggle. Retail Management Workshop 29. Sell-through pricing (STR) is an significant measurement of monthly revenues contrary a given target. Records are array fetched from DISC_OTB_APPLY table, processed. Retail Management Workshop 29. These. May 2023 - Present 7 months. : 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. Boy, Brand, Tough. When this occurs (in the batch program orddscnt. The practice and process of displaying and selling products to customers is known as merchandising. Add product images and descriptions to help staff identify products. management works on the sales plan and. by: Martec International Martec International Ltd. It’s an effective way of helping to convert more browsers or window shoppers into customers, by removing their confusion and helping them choose between multiple products more quickly. Open To Buy + 1. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. The pricing strategy of your products and how it affects customers. There has become increased importance on branding and consumers' increased expectations of products and services. MMU$. 1. An inclusive brand with exclusive products Bottega Veneta is as much of a feeling as it is an aesthetic. Open-to-buy definition: a financial budget for retail merchandise planners. 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. Management One’s OTB plans are founded on reliable data, advanced algorithms, and experience-based. 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. Retail Buying Plan Template. An inclusive brand with exclusive products Bottega Veneta is as much of a feeling as it is an aesthetic. An efficient OTB plan has the following elements. A. You’ll need to determine your initial markup (IMU) on each. Definition. xlsx from MRCH 1255 at Fashion Institute of Design & Merchandising. planned purchase= planned sales +planned reduction + planned EOM- BOM. As a member of the Retek 11 family, RMS provides the many benefits of enterprise application integration (EAI). rajnish kumar • 1. OTB procurement Definition. 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. I- Le bon produit. This definition can also differ based. In a retail store, the meaning of merchandising is the varieties of products available in-store for selling purpose and their display that attracts the attention of customers and lure them into buying those products. English (United States) Français (France) Italiano (Italia) 日本語 (日本) 한국어 (대한민국) 简体中文 (中国大陆) View Profile. An open-to-buy (OTB) plan tells you how much of each class of merchandise you need to purchase each month. OTB. "I have a subscription to the retail dogma course, and have learnt lot in it. OTB stands for Open-to-Buy. Opens in a new windowOpens an external site in a new window. 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 will learn about: OTB. You’ll need to determine your initial markup (IMU) on each. As a merchandiser, you should be good at written and verbal communication, and comfortable with negotiations. This is a complete guide to the OTB (Open-to-Buy) concept in retail. 영어 사전에서 «OTB» 의 원래 정의 보기 를 원하면 클릭하세요 한국어 사전에서 자동 번역 보기 를 원하면 클릭하세요OffTrackBetting. Beginning Inventory (in $ or Sku Count) + Purchases – Endoing Inventory = Goods Sold (in $ or Sku. Don’t worry, it’s not a violent word… it has nothing to do with “blood”. Merchandiser Job Description: Top Duties and Qualifications. 6K. Calculate your OTB. MERCHANDISING definition: Merchandising consists of goods such as toys and clothes that are linked with something. OTB & Casinos - Fair Grounds Race Course & Slots 원래 OTB와 QGIS 연동을 위해서는 qgis-otb-plugin 플러그인 설치가 필요했으나, QGIS 3 OTB Group - Wikipedia OTB Definition & Meaning - Merriam-Webster An Over Target Baseline (OTB) is a Total Allocated Budget (TAB) that was formally reprogrammed to include additional. Retail shrinkage causes a discrepancy between the inventory list and the number of products actually in stock. Master order presentation to the Creative Directors. " "I don't currently have any consistent markdown strategy or events throughout the year [. Definition: Off The Board. OTB definition: . 1. What does OTB mean as an abbreviation? 156 popular meanings of OTB abbreviation: 50 Categories. pc), Open To Buy (OTB) must also be updated to ensure that budgets reflect reality. OTB has the meaning assigned to such term in the preamble. What does pop stand for retail? Key Takeaways The point of purchase, sometimes known as the POP, is the location where marketers and merchants arrange promotional activities related to. This is a complete guide to the OTB (Open-to-Buy) concept in retail, and a detailed step-by-step explanation of the entire process. Maintained Markup (MMU) The Gross Profit generated on merchandise sold. Join in any discussion here in this forum with your definition of ITB/OTB as a pretext and you will not make much sense or contribute much but ambiguity in that thread, guaranteed. An OTB planning process supported by intelligent open-to-buy software allows the retailer to stock the right amount of merchandise at the right time. By considering these factors, retailers can calculate how much inventory they need to purchase and when to purchase it. ‘OTB’ stands for on the books. It typically means "Off The Board" and "Off-Track Betting. Over The Bar + 1. • A merchandising philosophy sets the guiding principles for. Cost of Goods + Retail Markup = Retail Price. For OTB procurement, you have the following options: Release the purchase order value of existing purchase orders for the budget bucket An authorized user releases the purchase order Release an additional. Cerca lavori. Pre-season planning: Trend Forecasting. ); the marketing research (swot analysis, competitors, target customers pen portraits, etc. In the simplest terms, open-to-buy (OTB) is a financial budget for merchandise buyers. Browse the use examples 'OTB' in the great English corpus. The film made a lot of money thanks to. Marketing has assisted the sales and merchandising of Corporate Brand consumer products for the Kroger Company, the nation s largest supermarket retailer. freshly formatted HDD), then pressing the OTB button will not trigger. Design Overview. Over-the-Ball (OTB) – The OTB route is ran at 6-8 yards over the ball. Barrons Dictionary - Definition for: OTB. RETAIL MERCHANDISING 2. an OTB and/or an OTS. A retailer purchases goods or products in large quantities from manufacturers directly or through a. Retail, Technology, SAP. Seven-Step Procedure for Calculating the Six-Month Merchandise Plan/Budget. In retail commerce, visual display merchandising means merchandise sales using. Term. e. 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. Pada kesempatan kali ini, Anda akan segera mengetahui secara tuntas mengenai penerapan merchandising dalam bisnis Anda. When this occurs (in the batch program orddscnt. Read this article for learn additional about sell-through rate. Menjadi terminal dalam berbagai jenis sistem serat optik, terutama di bagian pendistribusian ke terminal jaringan mini. Retail merchandising. Retailers are part of an integrated system called the supply chain. Planned ending inventory is the. rajnish kumar •. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. This includes producing and selling merchandise such as toys, clothing, and collectibles based on a movie, TV show, book, or video game. EN . "Take a stand for what you believe in. Uploaded by:. Master Your COGS: Learn Cost of Goods Sold Formula (2023) Shopify POS has everything you need to sell in person, backed by everything you need to sell online. Business OTB abbreviation meaning defined here. Merchandising is the process that deals with ensuring the retailer’s merchandise is available in the right quantities at the stores and displayed in the right way to drive its sales. Finding the balance between the right product and quantity. how many practices are there in oceg capability modelAccounts Payable OTB. Gross Margin Return on Inventory (GMROI) Definition. When followed correctly, an OTB plan increases margins, profits, and cash-flow, revealing how much money is available for reinvestment. 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. It will have a threading assignment and a business logic processing. Records are array fetched from DISC_OTB_APPLY table, processed. Space constraints. products connected with a popular film, singer, event, etc. Fashion Merchandising - Forecasting 14/2/ Introduction to forecasting and setting merchandise budgets Stock planning processes OTB Definition of forecasting Seasonal forecasting and 6-month plan Top, down, bottom up explanation As your buyers begin to buy products with their allocated budget, the unspent dollars are known as their open-to-buy. 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. 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 planned sales for the store are $48,000 with $750 in planned markdowns. Begin you free trial, then enjoy 3 months is Shopify for $1/month when your sign. Built on the shoulders of the open-source geospatial community, it can process high resolution optical, multispectral and radar images at the terabyte scale. Merchandise is a product that retailers buy and sell while merchandising is the process of getting a consumer to make the purchase. Essentially, OTB is a purchasing plan which takes into account current inventory levels and projected. You could get a maximum of: $1,194 if you are between 18 and 64 years old. Retailers need to track the cost of goods sold (COGS) to ensure they are profitable and reporting expenses to the IRS correctly. Who uses an open to. OTB is a purchasing plan based off your current inventory levels, projected sales,. It's alchemy. Definition. Dictionary of Business Terms: OTB. CLCM is rooted in a deep understanding of your core customers, serving as a guiding star to the overall category strategy and assortment decisions. Moreover, merchandise planning is about. Sales analysis and reporting to monitoring performance, finding markets opportunities and strategies to react at business loss. Try Shopify free for 3 days, no credit card required. Choose the quantity per size for each product. You won’t get to 12 yards. 1. gen 2022 - lug 2023 1 anno 7 mesi. - Built and structured the range of products with Design and Merchandising. Merchandising is everything you do to promote and sell your products once the potential customer is in your store. RMS supports three types of OTB budgets – those associated with Non. You will learn about: OTB Definition Retail Buying Plan Template Components Open to Buy Read More » Stock Obsolescence What is Stock Obsolescence? Stock obsolescence happens when inventory has been sitting on a company’s books for a very long time (e. Milano, Lombardia, Italia. 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. OTB is a financial planning tool designed to make it easier for businesses to manage inventory. Open to Buy. The phrase “off the board” comes from the fact that if you are looking at a board with sports bets on it, the. Apply today at CareerBuilder!Introduction. The 2023 OTB payments, which are based on your 2022 income tax and benefit return,. He is a. Visual merchandising is the retail practice of designing in-store displays to catch the shopper’s eye and increase sales. Merchandising in media is the practice of creating, marketing and selling products or services related to a particular media property or brand. It tells you how much you can spend on new orders. 2. Not only does OTB assist you in scheduling stronger stock acquisitions, but it’s also a bill that can assist you to tighten your belt. 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). This is the OTB based on the price you pay for the products on your shelves. Seven-Step Procedure for Calculating the Six-Month Merchandise Plan/Budget. The principle concept of merchandise planning consists of four equally crucial steps: Post-season analysis: Past Performance Reporting. Definition: Prohibited Products Policy and Product Limitations for Marketplace Sellers. For instance, you have 10,000$ in. Cafe, Pittsburgh, Locations. If you get bump-and-run (Cover 1), it is a speed move. We can effectively do this using OTB ( open to Buy) management. Quite simply, it describes the difference between what a retailer pays for an item and what they sell it for, originally.