The difference between planned purchases and purchase commitments already made by a buyer for a given time period is _____.

Question

Quizplus · Accepted Answer

The difference between planned purchases and purchase commitments already made by a buyer for a given time period is referred to as open-to-buy. It represents the amount of money available for new purchases during a specific period of time. Being aware of the open-to-buy helps buyers make informed decisions about future purchases and avoid overspending or understocking.

The Difference Between Planned Purchases and Purchase Commitments Already Made