Computer inventory - Part 2 - Computer Essay Example
Organizations – big or small – always aim for high customer satisfaction - Computer inventory introduction. It is one of the company’s objectives – to give the best possible services to their customers. With this, companies which operate globally are developing strategies in order to maintain its name in the market and to continue of improving its services.
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Coca-Cola has been in the business for years now and it has proven its quality through constant high rating in terms of customer satisfaction. The company is known for its beverage products which are supported by a wide array of customers.
The company market in more than 200 countries products of over 2800 beverages with 450 different brands. Each of the products they sell meets the changing tastes, needs and expectations of their customers. In the different countries where Coca-Cola operates, they are an active member to the business community which they accomplish through the cooperation of the local individuals and the government. This is done to promote and improve the health and prosperity of the local economy. The company always maintains its profitability to sustain investment in various communities in the world. (http://www.thecoca-colacompany.com/citizenship/our_marketplace.html)
On Collaborative Planning, Forecasting and Replenishment
Collaborative Planning, Forecasting and Replenishment or better known as CPFR combines multiple intelligences of trading partners in the planning and forecasting of customer demands. This is one of the series of supply chain initiatives to make supply chains more responsive to the demands of the customers. The role of CPFR in the different stages of supply chains is depicted in the figure below: (http://www.decisioncraft.com/dmdirect/cpfr.htm)
Figure 1: Role of CPFR in different stages of Supply Chain (http://www.decisioncraft.com/dmdirect/cpfr.htm)
Based on the figure above, CPFR is mainly composed of four (4) collaboration activities which are helpful – Strategy and Planning, Demand & Supply Chain Management, Execution and Analysis. Moreover, to arrive at the desired output, all must be properly implemented. There must be a formal establishment of an agreement with the trading partners, development of a business plan must be in place and this must be executed. (http://www.decisioncraft.com/dmdirect/cpfr.htm)
Coca-Cola on CPFR
For many years now, Coca-cola has been in the global market and continues to achieve rewards in the business arena. This just proves that the management has properly laid out its strategies on how to properly operate its business. The management has also proved that its plans are the best, which is why until now they continue to be number one in the field.
The statement: Coca-Colas experience with inventory forecasting supports the principles set forth by CPFR (Collaborative Planning, Forecasting & Replenishment) if TRUE. The way I understand Collaborative Planning, Forecasting and Replenishment, it always aims to improve the services and the quality of the products of one company. Coca-cola has been in the business for many years and has maintained its name in the market – that is it continues to provide the best beverages ever. With high sales maintained for years and with the most number of customers, it is very evident that its inventory forecasting supports the principles set by CPFR.
The company has properly executed its plan since it has already been serving for more than 200 countries all over the world. Had the company not implemented the business strategies properly, they would not be known in the business market and would not have a name to be proud of.
Collaborative Planning, Forecasting and Replenishment (CPFR) is, indeed, a business strategy which supports the activities of the firm and helps them achieve their goals and objectives. Like Coca-cola, companies most especially if they are in the global market, must implement the principles of CPFR in order to be at par, if not better, with other competitors in the field.
Coca-Cola Company. 2006. The Coca-Cola Company. Retrieved from http://www.thecoca-colacompany.com/citizenship/our_marketplace.html on September 6, 2008.
No Author. 2004. Collaborative Planning, Forecasting and Replenishment. Retrieved from http://www.decisioncraft.com/dmdirect/cpfr.htm on September 6, 2008.