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Integrated business planning for retail

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Stephen M. Wyss

CPA, Partner - Consumer Industry Leader

Contact Stephen View full biography
Marisa Garcia

CPA, Partner, CohnReznick Advisory

Contact Marisa View full biography

Integrated business planning (IBP) for the retail and consumer goods industry

In today’s dynamic, disruptive retail and consumer goods market, quarterly business planning and forecasting across a number of unconnected systems won’t cut it. 

Businesses must anticipate and manage swings in supply, sales, demand, promotions, and customer preferences – all without disruption to operations and sales. The ability to predict, rather than simply respond, is increasingly critical. 

An Integrated Business Planning (IBP) strategy can help by unifying people, processes, and technologies across functions, breaking down silos to align data, drive communication and collaboration, link planning processes, and improve the accuracy of reporting. 

Ultimately, IBP can help retailers stock the right products at the right time at the right place at the right price, regardless of volatile market factors.

Featured Insights

Insight

5 ways to sustain growth after COVID-19 for retailers

Retailers should start preparing now to keep momentum after the coronavirus pandemic. Here’s what to know and how integrated business planning (IBP) can help.

5/12/2020 | Marisa Garcia, Stephen Wyss

On-demand

Live Demo: Integrated Business Planning tools for the retail and consumer goods industry

Empower your organization to anticipate the future of retail and consumer goods by improving financial planning, business agility, and operational efficiencies. Join us for a live demo of leading Integrated Business Planning (IBP) solutions. During this 30 minute live webinar, you will gain an understanding of how technology can enable your organization to work beyond operational challenges in your retail and consumer businesses.

3/4/2020 | Marisa Garcia, Stacie Jefferies

5 Ways to Sustain Growth After COVID-19

6/9/2020

Here’s how companies providing “essentials” for a quarantined society can prepare for business on the other side of the curve.

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5 ways to sustain growth after COVID-19 for retailers

5/12/2020 | Marisa Garcia, Stephen Wyss

Retailers should start preparing now to keep momentum after the coronavirus pandemic. Here’s what to know and how integrated business planning (IBP) can help.

Read article

Improving financial forecasting – and profits – with retail-ready analytics

11/21/2019

A global retailer with $14 billion in annual U.S. sales relied on unconnected manual processes for financial planning and budgeting across thousands of stores and seven e-commerce sites.

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Optimize inventory management, lower workforce costs & improve margins

9/30/2019

In today’s rapidly evolving retail markets, many businesses grapple with multiple sales channels, disruptive technologies, mercurial consumer preferences, and compressed product lifecycles. Doing so requires that they efficiently and accurately forecast and respond to changes in buying patterns, seasonal assortments, inventories, and supply-chain performance.

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Integrated business planning

As management seeks to understand profitability and accurately forecast performance, it faces numerous challenges, including complex supply chains, changing customer priorities, shortened product lifecycles, and evolving labor markets. Internally, managing data on disconnected spreadsheets and centrally controlled systems that do not support dynamic data feeds can impede communication of financial information across departments.

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This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.