After two firms have established an initial relationship to apply the principles of collaborative planning,...

After two firms have established an initial relationship for Collaborative Planning, Forecasting, and Replenishment (CPFR), the next logical step is to create joint business plans for the products. This step involves aligning on business objectives, market strategies, and goals for the collaboration. Creating joint business plans ensures that both parties have a clear and shared understanding of their roles, responsibilities, and expectations, which is essential for the success of CPFR initiatives. It helps in setting the stage for effective collaboration, mutual trust, and long-term partnership.

References:

“Collaborative Planning, Forecasting, and Replenishment: How to Create a Supply Chain Advantage” by Dirk Seifert

APICS Dictionary, 16th Edition