What Is Integrated Business Planning?
By Space Coast Daily // March 12, 2021
Many businesses these days are turning to integrated business planning (IBP). What exactly is integrated business planning, though? How do businesses use IBP to help them plan and execute business strategies? If you’d like to learn more about IBP, you’re in the right spot.
Let’s get started by taking a closer look at IBP, including what it is, how it works, and how businesses like yours can use it to take your company to the next level of success.
What Is Integrated Business Planning?
When integrated business planning (IBP) takes place, it means that a company is trying to integrate certain parts of the business with one another. To do this, the company owner (or whoever is in charge of the company) must support strategic-decision-making processes.
The goal is to take a comprehensive view of the entire company (including all of its assets and resources) and then see how all of these assets can be used to benefit the company as a whole. There is a ton of granular-level planning that has to take place when IBP is carried out.
The reviews that are conducted during IBP are not simple. Instead, they are very detailed, and it is extremely important that all results of any IBP surveys and reviews are carefully considered when deciding how to move forward.
How Does IBP Work?
IBP works as the business planning processes are construed in a way that allows the extension of the principles and S&OP throughout the entire supply chain as well as any product and customer portfolios.
This is to ensure that all demand and strategic planning can occur and take place in a manner that allows all management processes to correlate and align with one another in the most efficient way possible.
Who Partakes in IBP?
Ideally, the entire organization and all of its workers are included in the IBP; however, this isn’t always feasible. In fact, sometimes, not all workers are even aware that the IBP is taking place.
Because of this, and to keep things as simple as possible, it’s usually best to include as few workers as possible in the IBP. The deployment itself of IBP is going to give a reflection of a huge organizational change, and it’s very important to keep an eye on workers during this change.
You want to make sure that everyone is on the sage page and is aware of what is taking place. The overall goal, of course, is to benefit the company as a whole, including all of its workers.
How Does IBP Benefit the Company As a Whole?
When IBP has been successfully deployed, a company will enjoy several benefits, with some of the most pertinent being:
■ Cross-functional sponsorship: The mindsets and behaviors of workers tend to change when an IBP has been established. If you’re looking for ways to instill cross-functional sponsorship, you can’t go wrong with IBP.
■ Senior-level leadership: Your IBP deployment will be carried out, ideally, by a senior-level employee, which will go a long way in helping to establish senior-level leadership throughout the entire organization.
■ Creation of cross-functional teams: Even though most companies are set up according to a structural or cultural or even a hierarchal system, an IBP can help establish the cross-functional teams that you’ve always needed to get to that next level of success.
■ Development of coaches and mentors: Once the IBP is deployed, you will finally start to see who is worth keeping aboard and who isn’t. More importantly, you’ll be able to pinpoint which employees should become coaches and mentors to the new workers that you bring aboard.
Are you looking for ways to help your brand or company achieve the next level of success? If so, you should definitely start to consider the advantages gained when deploying IBP. A simple online Google search of how other companies like yours have used IBP is one of the smartest moves you can make.
If you would like to learn more about IBP as well as other strategies and tactics that you can use to benefit your company as a whole, make sure to check out our blog posts each week. We are here to help you with all of your business needs.