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Research firms, solution providers, subject matter experts and even end users have difficulty agreeing on an industry standard term for this process. Regardless of the name, its importance to company health is obvious, as it can significantly lower costs, increase agility, improve customer service and boost profits.
The industry may settle on a term one day. Until then, three overlapping concepts — executional, tactical and strategic planning — can help clarify the objectives and potential of this methodology. Executional planning deals with balancing and aligning supply and demand in the near-term, often within the span of a planning cycle.
Decisions tend to be prompted by exceptions and disruptions — and thus are made on the fly to ensure customer orders are met and financial objectives are made. This near-term planning horizon involves workflow; exception-based messaging; alerts; and visibility to supply, demand and transportation.
Often, specific scenarios are analyzed — for example, if a customer order can be accepted, if people should work overtime or if expedited shipping is the best option.
Tactical planning encompasses just a few months to 18 months or more, depending on the business. The goal is to plan at an aggregated level and then make effective midcourse adjustments in resources and partners in order to respond to changes in demand.
Activities include new product introduction planning, decisions about product life cycles, product-family-level demand projections, running high-level capacity analyses, optimizing inventory positions and making any adjustments that are necessary to meet expected demand while aligning with company objectives.
A multitude of scenarios can be run, including optimistic versus pessimistic plans, inventory postponement trade-offs, whether to add suppliers or production capacity, transportation and warehousing alternatives, and more.
Strategic planning describes high-level balancing and alignment over a long time horizon. Companies may look out three, five or 10 years to plan for new category introductions, moving a plant or warehouse, or entering new countries or regions.
Alternative scenarios are used to make financial projections, plan investments and compare potential strategies through volumetric and financial metrics. With these three concepts in mind, consider the following breakdowns of the different tactics: SIOP is, frankly, a superfluous attempt to emphasize the importance of inventory.
MIOE aims to establish a periodic planning process that meets the requirements of each business function, integrates company strategy with execution activities, and balances supply and demand while exceeding customer expectations.
IBP focuses on ensuring continuous alignment among demand, inventory, supply and manufacturing plans on the one hand, and between the tactical and strategic business plans on the other, in an effort to maximize operational performance and meet financial objectives.
IBP is a fairly new competitive weapon for supply chain leaders in the battle to accelerate, direct and optimize business decisions for both near- and longterm planning.
Whether key stakeholders hail from sales, inventory, marketing, purchasing, production or finance functions, they are all from the same business and engaged in planning activities that are closely integrated.
In this way, IBP is the best term to describe the regular actions, behaviors and processes that heighten performance, bring about better decision-making, and optimize supply and demand.
IBP should encompass strategic plans, initiatives, activities, and regional and multidivisional operational plans.
Perform fast simulations, comparisons and what-if scenarios. You need unprecedented global visibility in order to drive a higher level of proactive decision-making. Make sure your team can model the entire supply chain, including plants, suppliers, storage facilities, partner capabilities, customer locations and lanes of transportation, so you can identify any disconnects between supply and demand months or years in advance.
Compare actual performance to the plan. Global supply chains are always in motion. You need to quickly detect the differences between plans and actuals and then respond in an efficient manner.
The ability to sense and highlight shifts in the extended supply chain — particularly as they relate to the agreed-upon plan — is vital. Then, you should be able to suggest an optimal solution while adhering to predetermined company goals and objectives through multiple scenario comparisons.
Develop plans that evaluate both financial and volumetric performance. Establishing one comprehensive plan that spans strategic and tactical horizons reveals the true merits of multiple alternative paths. Break away from silos, and combine information from sales, marketing, production, procurement, transportation, finance and external partners in a single system to keep your team aligned while streamlining planning processes and responding effectively to supply chain disruptions or new opportunities.
A good question to ask is, In addition to balancing financial criteria against constraints, demand prioritization and customer service objectives, can we analyze alternative scenarios based on revenue, profit, capacities, customer service and other critical business metrics?
Plan across global, regional and multidivisional organizations.Sep 16, · Time, the pre-eminent weekly newsmagazine of the 20th century, will have new owners: Marc Benioff, the billionaire co-founder of the software company Salesforce, and his wife, Lynne.
Essential Elements of a Newsletter or Magazine Business Plan. By Cheryl Woodard, Updated October [PRINT VERSION].
Magazine and newsletter business plans usually include a text description of the editorial idea, some sample pages (possible a mock cover, table of contents, and a few feature articles), and three years of financial projections, plus detailed analysis of competitive publications.
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Jun 27, · A business plan is an important tool for managing and growing your business. A well-designed plan lays out a vision of growth and the steps needed to get there.