In recent years some companies have begun to work closely with their customers and/or suppliers by sharing information to develop demand plans and execute those plans.The procedure they are following is known as:
A)Coordinated foreplanning of requirements.
B)Joint planning of demand forecasts.
C)Collaborative planning,forecasting,and replenishment.
D)Conjoint analysis and forecasting.

Question

Quizplus · Accepted Answer

Collaborative planning, forecasting, and replenishment (CPFR) is a strategic approach in which companies work together to coordinate their demand planning and execution processes. This involves sharing information such as sales data, inventory levels, and production capabilities to develop accurate demand forecasts and ensure the right products are available at the right time in the right quantities. CPFR is a powerful tool for improving supply chain efficiency and reducing costs, and has been adopted by many leading companies in recent years. Options A, B, and D are not as comprehensive and do not encompass the full range of activities involved in CPFR.

In Recent Years Some Companies Have Begun to Work Closely