The process of combining statistical forecasting techniques and judgment to construct demand estimates for products or services is known as Collaborative Planning, Forecasting, and Replenishment True False
Collaborative planning and Forecasting, and Replenishment
False, Collaborative Planning, Forecasting, and Replenishment does not refer to the method of combining statistical forecasting tools with judgment to build demand projections for products or services.
Collaborative Planning, Forecasting, and Replenishment (CPFR) is a strategy for improving supply chain integration by encouraging and facilitating cooperative practices.
CPFR strives to achieve cooperative inventory management by collaborative visibility and replenishment of products along the supply chain.
Through a supported system of shared information, information shared between suppliers and retailers aids in planning and satisfying client requests.
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