IBP appears to be a procedure for coordinating a company's financial, supply chain, product development, marketing, and other operational goals with those goals. Consider companies that provide cars with parts and must continually adapt their operations to account for design changes, or consider food producers who operate on razor-thin margins and must manage both erratic supply chains and volatile consumer tastes.
Integrated Business Planning (IBP) is the business planning process that extends the principles of Sales and Operations Planning (S&OP) throughout the value chain. It is to create a bridge between strategy and execution. IBP is a next step for companies that already have an S&OP process in place. It is a next step because it integrates the Financial Planning Cycle. The financial function will become part of this cross-functional process. In most companies the business owner of this process will change as well.