Scm

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CPFR-Collaborative Planning Forecasting and Replenishment – A Comprehensive Overview

The term CPFR (Collaborative planning, forecasting, and replenishment) refers to the business process where two or more trade partners pool their resources to develop strategies for meeting client demand, to boosting availability while lowering inventory, transportation, and logistics costs. CPFR combines knowledge of SCM, Inventory Management, and Demand Forecasting among others for fruitful results for …

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Lean Supply chain management – Lean Supply chain Management- Definition, History, and Aspects

Definition Lean supply chain management focuses on the elimination of waste from the waste. In a nutshell, lean supply chain management is all about streamlining your company’s supply chain in order to eliminate waste and improve efficiency. By reducing or eliminating non-value-added activities throughout the supply chain, lean supply chain management can help your company …

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Supplier Selection Criteria – An Absolute Guide with Checklist

Supplier selection criteria form the very basic procurement strategy. The criteria for supplier selection is a mission-critical task that falls under the purview of the purchasing function. This is especially important to keep in mind when we are discussing strategic components as well as bottleneck components. In neither of these groups is there any evidence …

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Kraljic Matrix – A Comprehensive Guide for your Procurement Strategy

What is Kraljic Matrix or Krajlic Purchasing Portfolio Matrix? “What is the most effective method for buying management?” “What is the most effective tactic for buying and getting supplies?” These are questions that have been asked in the past by a large number of practitioners as well as academics, and they continue to be asked …

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Emerging Trends in SCM [2024]: A Comprehensive Overview

Introduction Emerging trends in SCM refer to the new and upcoming areas of supply chain management which is allowing organizations to pivot and create a more resilient and agile supply chain. In a post-COVID world, it has generated tremendous academic and political interest as well, as organizations and countries alike are rushing to defend their …

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