What is a collaborative planning, forecasting, and replenishment system and how might it benefit those who choose to use it?
What will be an ideal response?
Answer: CPFR is a set of business processes, backed up by information technology, in which supply chain partners agree to mutual business objectives and measures, develop joint sales and operational plans, and collaborate to generate and update sales forecasts and replenishment plans. What distinguishes CPFR from traditional planning and forecasting approaches is the emphasis on collaboration. Experience shows that supply chains are better at meeting demand and managing resources when the partners synchronize their plans and actions. The increased communication among partners means that when demand, promotions, or policies change, managers can adjust jointly managed forecasts and plans immediately, minimizing or even eliminating costly after-the-fact corrections.
You might also like to view...
When setting a document's margins, you should be sure to leave sufficient _________________
a. white space b. margin border c. text blocks d. crop marks
A _____ is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain
a. market grouping b. common trade alliance c. retailer monopoly d. marketing channel
U.S. citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because
A. these products were purchased at a lower price from nations that currently are under governmental sanctions. B. both products are considered essentials and as a result are more heavily taxed. C. both countries have imposed tariffs on imported goods to protect their domestic markets. D. both countries have suffered major financial crises due a severe trade imbalance. E. both countries have imposed limits on the quantity of these goods that can leave their respective domestic markets.
Two of the most important factors in reaching your financial goals are the return on your investments and the length of time you have until you need your money
Indicate whether this statement is true or false.