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External collaboration & CPFR

Published on June 29, 2023   41 min

A selection of talks on Strategy

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0:00
Hello, my name is Teresa McCarthy Byrne. I am an Associate Professor of Global Supply Chain Management and Marketing at Bryant University in Smithfield, Rhode island, in the United States. Today's topic is "External collaboration and CPFR", or Collaborative Planning, Forecasting and Replenishment.
0:20
Now, before I started my career in academia, I actually had another career in retail. I worked in retail for about 14 years in New York City, working for two different retailers. I worked both in stores and then I moved into the buying office. I was a buyer for several years. Then I moved into inventory management and control. Part of our responsibility, my team and I, was to do the forecasting and inventory planning and turnovers and gross margin plan. I do have quite a bit of experience in this topic. But before we talk about external collaboration and CPFR, there are a couple of terms that I would like to clarify. The reason for this is I am also on a forecasting and S&OP auditing team where we go into companies that, some very successful, some less successful, Fortune 100 companies, and some privately owned companies, that know they can do a better job with forecasting and S&OP processes. One thing that we have learned through this process is that many people use the terms "forecast" and "plan" interchangeably, and they really are two completely separate terms. I do want to precisely define these terms before I move on and talk about external collaboration and CPFR.

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