Academic MBA Question:
Planning, Forecasting, and Replenishment (CPFR) is a concept that aims to
enhance supply chain integration by supporting and assisting joint practices.
CPFR seeks cooperative management of inventory through joint visibility and
replenishment of products throughout the supply chain. Information shared
between suppliers and retailers aids in planning and satisfying customer
demands through a supportive system of shared information. This allows for
continuous updating of inventory and upcoming requirements, making the
end-to-end supply chain process more efficient. Efficiency is created through
the decrease expenditures for merchandising, inventory, logistics, and
transportation across all trading partners. With the help of an example discuss
the phases in a CPFR implementation and its successful implementation.
Academic Assignment Answer: