“You must have the unequivocal buy-infrom your most senior leader for IntegratedBusiness Planning to be successful.”Juliann ForcinaDirector of Integrated Business Development
NEW LONDON, N.H. (PRWEB) August 24, 2020
This new client profile tells how Integrated Business Planning (IBP) helped Marzetti to adapt to changes in the market place and improve financial performance. It also tells how the maker of salad dressings and chips has used IBP to navigate during the COVID19 pandemic.
Marzetti and its parent company Lancaster Colony Corporation had built a solid reputation in the food industry for more than 120 years. As customer expectations shifted toward foods with healthier ingredients, the company was faced with the need to change to continue to thrive.
The client profile tells how Marzetti’s executive team led that change, in the business leaders’ own words. The company’s leaders share their insights on:
- Structuring a stage-gate process to make the right innovation choices
- Developing more credible demand plans that are trusted throughout the organization
- Learning the company had more capability when they planned over at least a 24-month planning horizon in the IBP process
The output from Marzetti’s IBP process is regularly taken to the Board to demonstrate the current state of the business and the underlying need to keep up with growth opportunities.
“It would have been difficult to justify significant investments in growth without the back up of IBP data,” says Dave Ciesinski, president and chief executive officer.
When faced with the prospect of the COVID19 pandemic, the client profile describes how Marzetti used scenarios in IBP to develop alternatives for sourcing ingredients. The business leaders have also developed scenarios to respond to dramatics shifts in demand.
Marzetti has realized a return on investment from IBP that more than justifies the money and time spent on implementing the process. An increase of $24 million in sales revenue is attributed to IBP. The company also realized cost savings of $1.9 million.
Equally important in these uncertain times, Marzetti and Lancaster Colony are well positioned to respond – and continue to drive growth – when the pandemic ends.
About Marzetti and Lancaster Colony Corporation
Based in Westerville, Ohio, Marzetti was founded more than 120 years ago and acquired by Lancaster Colony Corporation in 1969. Lancaster Colony was formed in 1961. (http://www.lancastercolony.com)
Lancaster Colony is a manufacturer and marketer of specialty food products for the retail and foodservice markets. Popular brand name products include:
- Marzetti® refrigerated salad dressings and dips (visit marzetti.com)
- New York Brand® Bakery frozen garlic breads (visit nybakery.com)
- New York Brand® Texas Toast croutons (visit nybakery.com)
- Sister Schubert’s® homemade rolls (visit sisterschuberts.com)
- Flatout® flatbread wraps
In addition to its top-rate reputation in the marketplace, Lancaster Colony has earned respect of shareholders and Wall Street for its dependable financial performance. The company consistently records top quartile financial performance for organic sales growth and operating income growth, margin performance, and return on assets. The company has increased regular cash dividends for 57 consecutive years, one of only 13 U.S. companies to do so.
More information is available on the company’s website – http://www.lancastercolony.com
About Oliver Wight Americas
Oliver Wight has over a 50-year track record of delivering business improvement to some of the world’s best-known organizations. We believe that sustainable improvement can only be made through your own people. Unlike other consultancy firms, we transfer our knowledge to you, which means you can achieve performance levels and financial results that last. Our principals are seasoned professionals who have real-world manufacturing experience. They are thought leaders in the fields of supply chain management, integrated business planning, demand management, and product management. The largest worldwide consultancy of its type, Oliver Wight has offices throughout Europe, North and South America, and the Asia/Pacific Region.