In the early 1990s, Walmart chose to implement the Collaborative Planning, Forecasting, and Replenishment (CPFR) into its supply chain planning, and management system (Hollmann, Scavarda & Thomé, 2015). Walmart started employing the CPFR to match up with evolving challenges like changing consumer expectations and habits as the control of the commerce rises from low tier to medium tier customers. With the help of the CPFR, Walmart explored factors like product variation, points of sale, demand signal tracking, delivery schemes, and integrated delivery to know how to handle their customers with quality services (Ryu, 2014). The company needs to strategically plan on how to meet their customer’s demands while sourcing products globally and partnering with product makers to work on supply management. Based on the forecasts from the analysis of this CPFR process, the strategic planning developed from the factors provided fulfill customers’ satisfaction and work under the provided capital to avoid inventory stockouts.
Examine how your selected firm is managing/implementing its Customer Relationship Management (CRM)
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Since its launch, the CPFR technology has helped Walmart in centralizing all the platforms while including customer relationship management (CRM) into the analyses of all the information and data obtained to help the company overcome modern challenges (Ryu, 2014). In this strategic planning procedure, the software was developed based on the CPFR technology work perfectly to integrate the supply planning and demand planning while considering factors ranging from global sourcing, regulatory variation, and point of sale. The CPFR may be useful to customers who urgently need to communicate with the company’s management when they need price reduction and requesting certain products that are unavailable (Thomé, Hollmann & Carmo, 2014). Also, it is essential to use the obtained data from supply planning and demand planning on the advanced-analytic technology to monitor sales to keep demand and supply at an optimum level while also implementing insightful customer relations by reducing cost based on the customers’ control of commerce, habits, and expectations to manage the people providing mid-tier customer goods.
References
Hollmann, R. L., Scavarda, L. F., & Thomé, A. M. T. (2015). Collaborative planning, forecasting, and replenishment: a literature review. International Journal of Productivity and Performance Management.
Ryu, C. S. (2014). Review of Collaborative Planning, Forecasting, and Replenishment as a Supply Chain Collaboration Program. The Journal of Distribution Science, 12(3), 85-98.
Thomé, A. M. T., Hollmann, R. L., & Carmo, L. F. R. R. (2014). Research synthesis in collaborative planning forecast and replenishment. Industrial Management & Data Systems, 114(6), 949-965.
