Hi Harini,
I look at BPC as a top down planning tool which considers many factors, at least more than inventory and sales. IBP is more of a bottom up planning solution focused on the inventory and its movements, such as through sales etc.
Both solutions have a need and a place and I don't think this will change.
The real advantage is that with both solution we have our overall plan and we can see that they actually do meet in the middle and if not we can plan to resolve the issue.
Hope this helps.
Adam
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