Collaborative Planning, Forecasting, and Replenishment (CPFR®)

Collaborative Planning, Forecasting, and Replenishment (CPFR®) is a supply chain management strategy that involves collaboration between different partners in a supply chain, such as manufacturers, retailers, and distributors, to improve forecasting accuracy, optimize inventory levels, and reduce costs. 

In the shipping industry, CPFR® involves sharing information about inventory levels, production schedules, and demand forecasts between different partners in the supply chain, using technology and communication networks. This allows each partner to plan and coordinate their activities more effectively, reducing the risk of overstocking or stockouts, improving delivery times, and reducing overall supply chain costs.