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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.
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.
Recently, partners in permanent supply chains tend to extend the coordination of their decisions in order to improve the performance for all of the participants. Some practical realizations of this approach are Collaborative Planning, Forecasting, and Replenishment (CPFR), Vendor Managed Inventory (VMI) and Quick Response (QR).
Sherman, Richard J. “Collaborative Planning, Forecasting & Replenishment (CPFR): Realizing the Promise of Efficient Consumer Response through Collaborative Technology,” Journal of Marketing Theory & Practice, vol. 6, no. 4 (Fall 1998) Richard J Sherman (2010). Supply Chain Transformation: Practical Roadmap to Best Practice Results. Wiley.
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.
By integrating accurate demand forecasting with inventory management, rather than only looking at past averages, a much more accurate and optimal outcome is expected. Integrating demand forecasting into inventory management in this way also allows for the prediction of the "can fit" point when inventory storage is limited on a per-product basis.
Calculating demand forecast accuracy; Clarke's three laws; Collaborative planning, forecasting, and replenishment; Causal layered analysis; Coolhunting; Decision support systems; Digital library (initiatives) DIKW pyramid – Harlan Cleveland; Emerging technologies. List of emerging technologies; End of civilization; Eschatology; Failure mode ...