Discuss efficient consumer response (ECR) and the continuous replenishment program (CRP)
What will be an ideal response?
a. ECR is the process of reducing costs throughout the entire distribution system, resulting in lower prices and increased consumer demand.
b. CRP is part of ECR; members of the supply chain partner with supermarkets. Retailers, wholesalers, and marketing managers work together to attempt to forecast demand accurately; these forecasts drive the electronic inventory replenishment system. When it works, CRP can reduce inventories at both the retail and warehouse levels up to 60%.
c. The difficult part is getting manufacturers and retailers to work together because both must be open about their strategies and performance.
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