Everyone is talking about data-driven strategies right now. Enterprises are seeking to improve their strategic planning and operational execution using data and analytics. Many organizations are discovering ways to use their data assets as a market differentiator, and some are creating completely new data-driven business models. These strategies are starting to find their way into global supply chains. An advanced data infrastructure can improve forecasting, inventory planning, network design, lead times, service quality and reduce transportation costs.

Excess inventory is the bane of the supply chain manager’s existence…until it’s suddenly needed for an emergency order. Balancing inventory levels with order fulfillment quality is one of the most difficult challenges supply chain planners face. There are plenty of sophisticated methods and algorithms out there to help calculate safety stock levels. However without good supply chain data, it’s almost impossible to implement any kind of rigorous inventory management process. High quality supply chain data can be instrumental in helping you optimize your inventory levels.

What is Collaborative Planning, Forecasting and Replenishment (CPFR)? Collaborative Planning, Forecasting and Replenishment (CFPR) is a business model that takes a holistic approach to supply chain management and combines the intelligence of multiple trading partners in planning and fulfilling customer demand by using common metrics, language and firm agreements to improve efficiency for all participants. CFPR links sales and marketing best practices – category management, supply chain planning and execution processes to increase availability while reducing inventory, merchandizing, transportation and logistics costs.