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1) How can CPFR increase forecasting accuracy beyond the capabilities of VMI? 2) How can CPFR...

1) How can CPFR increase forecasting accuracy beyond the capabilities of VMI?

2) How can CPFR serve to further enhance the relationship between a supplier and retailer?

Business   Operations-Management   
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Answer #1

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CPFR (Collaborative Planning, Forecasting and Replenishment) increases forecasting accuracy beyond VMI as:

  • It helps to generate based on forecast and promotional activities rather than basis past sales as in case of VMI
  • It is more proactive in nature and considers holistic view considering inventory, logistics, sales, marketing etc.
  • CPFR works on single shared sales forecast basis the process of collaboration
  • It combines the data and information of trading partners which helps in potential synergy and greater accuracy
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