What a Senior Manager Financial Planning and Analysis at The Bouqs Company wishes they had known before entering the Consumer Products industry
Alice, a Senior Manager of FP&A at The Bouqs Company, learned that consumer products are surprisingly dynamic and fast-moving, requiring constant adaptation to the economy and customer behaviors, and that "cross-functional collaboration" is crucial due to frequent changes in the industry, even to the point of being "completely full with meetings" involving business partners. A role in FP&A can also shift focus quickly, from being narrowly focused on a part of revenue like "promotions and discounts" to taking on B2B work.
Financial Modeling, Consumer Products, Adaptability, Cross-functional Collaboration, Industry Trends
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Alice Choi
Senior Manager, FP&A
The Bouqs Company
Occidental College
UCLA Anderson MBA
Economics
Consumer Packaged Goods (CPG)
Finance
Honors Student, Immigrant
Video Highlights
1. Consumer products are dynamic and fast-moving, heavily influenced by the economy and rapidly changing customer behaviors, requiring constant adaptation and industry awareness.
2. FP&A roles require flexibility, as responsibilities can shift quickly based on industry trends, potentially moving from a customer focus (e.g., discounts) to a B2B model.
3. Cross-functional collaboration is crucial in this industry, requiring FP&A professionals to communicate effectively with business partners, conduct ad hoc analyses, and create new reports to support evolving business needs.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
One interesting thing I learned was about consumer products. It sounds like something you could easily understand and forecast. However, it's not quite like that; it's very dynamic and fast-moving.
Every company I've worked for in this sector has experienced many ups and downs. It's highly reflective of the economy and customer behaviors, which change so quickly.
You have to keep up with the industry and be flexible. Your role might start focused on a specific part of revenue, like promotions and discounts. But this can easily change based on current trends.
For example, the focus might shift from discounts to a B2B model if that's where the industry is heading. This means you'd move from a customer focus to a business-to-business focus.
Another key aspect is a lot of cross-functional collaboration within this industry. Because you understand the business, you're more open to talking with business partners and speaking their language.
Doing ad hoc analysis or creating new, regular reports requires collaboration. This is crucial in an industry that's always changing. I've learned that it's common for your schedule to be completely full with meetings with your business partners.