NACDS, The Partnering Group study joint business planning in new report
ARLINGTON, Va. — The National Association of Chain Drug Stores Retail Advisory Board and global strategy firm the Partnering Group have released a report to help retailers and suppliers establish joint business plans to align and optimize shared business goals.
The report, "Creating Value Together," identifies 10 key industry findings to help companies establish strong joint business plans with their trading partners. Joint business planning is a collaborative process between a retailer and/or distributor and a manufacturer and/or supplier in which both parties align on short- and long-term financial goals for their shared business.
“According to the findings in this report, one of the biggest challenges is the amount of time it takes to complete a joint business plan with a trading partner,” stated NACDS president and CEO Steve Anderson. “The NACDS Retail Advisory Board has been actively engaged in overcoming that hurdle. Working with NACDS member companies and with the Partnering Group, ‘Creating Value Together’ explores methods to help simplify the process and allow trading partners to expand the number of companies with which they conduct JBPs. We are pleased to share the report’s results with the industry today.”
The NACDS Retail Advisory Board makes recommendations to the NACDS Board of Directors on front-end issues, and helps to shape NACDS’ member programs and services.
“Joint business planning should be looked at as both a business strategy and a business process,” stated Peter Leech, managing director of the Partnering Group. “These properly executed plans create incremental value in a relationship between trading partners. This process is not in lieu of a category plan, it is much more.”
The report also identifies the leading characteristics of joint business plans, methods and tools to maximize business outcomes, and recommendations for driving maximum efficiency and effectiveness.
The executive summary and full report are available on the NACDS website. In addition, a tool kit is available, providing templates, workbooks and other resources to help companies get started and manage the development of their joint business plans.
HCP & Co. to sell its investment in NYX Cosmetics to L’Oréal
CHICAGO — HCP & Co. has signed an agreement to sell its investment in NYX Cosmetics to L’Oréal, as part of the sale of the company.
Terms of the transaction were not disclosed. Closing of the transaction is subject to regulatory approval.
NYX Cosmetics was created in 1999 by entrepreneur Toni Ko and is rooted in professional makeup artistry. NYX has achieved its prominence through social media, with projected 2014 revenues expected to surpass $100 million.
Since HCP’s initial investment, NYX’s revenue has increased more than five times while significantly expanding its shelf presence and distribution. The brand is currently distributed through professional beauty stores, specialty cosmetics stores, e-commerce and some NYX-branded stores.
Okinawa Life launches immune support supplement
PICO RIVERA, Calif. — Okinawa Life announced the introduction of Immunisol, an immune support supplement. The product has been shown to help increase natural killer cell activity, according to the company.
Immunisol is an extract obtain from a hybridization of several subspecies of mushroom mycelia (i.e., the roots of the mushroom). Several clinical trials illustrated that Immunisol can significantly increase the activity of certain white blood cells, helping to strengthen the body. Immunisol is available for a suggested retail price of $29.99 for a 30-ct. container.