I will collaborative planning, forecasting and replenishment

Retailers and suppliers work together to grow sales and lower costs. Achieving one or both of these goals begins by making improvements to the supply chain. From the purchase of raw materials to the final customer purchase, small supply chain improvements can mean huge profits added to the bottom line annually.

But what is the first step in improving the supply chain? Its actually improving the process of improving the supply chain. Individual partners can improve their area of the supply chain, but a good decision manufacturing could have adverse repercussions in distribution.

Openly sharing planning and communication between the supply chain links creates the opportunity for smoother transitions and deters costly errors. This process of supply chain improvement collaboration is known as CPFR.

What is CPFR?

Collaborative Planning, Forecasting and Replenishment (CPFR) is a set of actions taken by supply chain partners to plan and communicate tasks to meet customer demand while reducing cost. It includes business planning, sales forecasting, and replenishment of raw materials and finished goods.