Abstract:
The project that is discussed in this document will aim to develop a structure for the implementation of collaborative planning, forecasting and replenishment (CPFR), forecasting model and inventory model for Nailmetics CC. The problem currently for Nailmetics is that they have very long lead times for the ordering and importing of products from Greece in the absence of a specialized forecasting or inventory model to support the ordering of products. This causes the company to have very high inventory levels and place inefficiently large orders due to them striving for 100% perfect order fulfilment. The collaboration in the supply chain is also not at an optimal level which also contributes to these supply chain problem areas. This project develops an implementation plan for realizing CPFR in the supply chain by implementing a basic CPFR model. In order to improve the ordering system, an optimal review period is calculated using a linear programming method and an adjustable Microsoft Excel forecasting model is developed using the Holt-Winters technique.
