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Mgmt/411 Inventory Management

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MGMT 411

Module 3 Questions

William-Garrett Burnham

QUESTIONS

1. How are integrated operations controlled through Collaborative Planning, Forecasting, and Replenishment (CPFR) and associated execution techniques?
Integrated operations are controlled through collaborative planning, forecasting and replenishment through the use of effective is done through pathways such as resource optimization. This is a function of mathematical programming to determine how to most effectively meet the demands of the consumers while optimizing the resources and resource utilization. The results are multiple supply chains forecasted in to future time periods which then helps in determining which products should be produced, when they should be produced, and also helps in determining the most effective way in storing the materials across the supply chain.

2. How do inventory management practices and policies influence planning inventory requirements and managing uncertainty?
Inventory planning is done through a stream of information, which is shared between vendors and allows independent vendors assess how much inventory is being made and allows everyone to be on the same page. This helps
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In order to maintain CPFR a large amount of data infrastructure and management needs to be in place and be able to simultaneously work together. There is also significant risk for individual companies to be able to coordinate all of their products seamlessly between various other manufacturers in comparison to final consumer demand for the product. The remedy to this situation would be to jointly share forecasting information between companies concerning certain events in-turn increasing the likelihood of accurate forecasting between
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