Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

Q.38OQ

Expert-verified
Operations And Supply Chain Management
Found in: Page 484
Operations And Supply Chain Management

Operations And Supply Chain Management

Book edition 14th
Author(s) F. Robert Jacobs
Pages 800 pages
ISBN 9780078024023

Short Answer

Questions: What is the first step in CPFR?

Answer

Collaborative Planning, Forecasting, and Replenishment (CPFR) are the retail-level demand forecasting technique, which is successively accustomed synchronize all the forecasts, production, and replenishment plans upstream through the supply chain.

See the step by step solution

Step by Step Solution

Step 1: Definition of (CPFR)

(CPFR) is the exchange of the chosen internal information on a shared webserver to provide reliable, longer-term future estimates of demand within the supply chain.

Step 2: First step in (CPFR)

Creation of a front-end partnership agreement: The front-end partnership agreement includes:

  1. The objectives (for example - inventory reductions, lost sales elimination, lower product obsolescence, etc.) to be gained through collaboration.
  2. Resource requirements (for example - hardware, software, performance metrics) necessary for the collaboration.
  3. Expecting the confidentiality associated with the prerequisite trust required to share the company's sensitive information may create a significant implementation problem.

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.