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Collaborative planning, forecasting, and replenishment (CPFR) is an approach to the supply chain process which focuses on joint practices.This is done through cooperative management of inventory through joint visibility and replenishment of products throughout the supply chain.
According to Smith, Andraski & Fawcett, when two programs—Sales and Operations Planning (S&OP) and Collaborative Planning, Forecasting and Replenishment (CPFR)—are integrated, they provide the information we need for decision making. Key success factors and performance outcomes are also discussed. [10]
Those studies [which] fail to model replenishment frequencies cannot be classified here. [ clarification needed ] Replenishment frequencies play an important role in integrated inventory models to reduce the total supply chain cost, but it has been noted that many studies fail to model it in mathematical problems.
In the manufacturer to retailer model, customer collaborative partnerships have become more common since the 1990s. Although there was industry support behind CPFR (Collaborative Planning, Forecasting and Replenishment), manufacturers and retailers are adopting different versions of collaborative forecasting and replenishment strategies.
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Forecasting is the process of making predictions based on past and present data. Later these can be compared with what actually happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis.
Communicative planning is an approach to urban planning that gathers stakeholders and engages them in a process to make decisions together in a manner that respects the positions of all involved. [1] It is also sometimes called collaborative planning among planning practitioners or collaborative planning model.
Collaborative planning, forecasting, and replenishment, an inventory-management scheme trademarked by the Voluntary Interindustry Commerce Standards Association; Lake Chad replenishment project, a proposed major water-diversion scheme to channel water from the Ubangi River to Lake Chad