Andraski Unveils New CPFR Model

Joe Andraski, president and CEO of the Voluntary InterIndustry Commerce Standards Association (VICS), recently told more than 250 retail suppliers that consumers remain at the center of his organization’s collaborative business model. He was a featured speaker at a Doing Business in Bentonville seminar held at the Bentonville Clarion Inn and Convention Center.

VICS, a consortium dedicated to promoting best industry practices, recently updated its model for a growing retail initiative — collaborative planning, forecasting and replenishment, or CPFR. The focus is on strategic ways for suppliers to get their products to the retail store floor and collaborative efforts that can boost profits.

Andraski, a former Nabisco executive, said planning that includes suppliers of manufacturers, joint business plans and even retail event collaborations are the biggest trends.

More than 300 global suppliers have applied CPFR to their own processes. According to VICS’ Web site, case studies of CPFR projects have shown “the benefits of CPFR for the apparel industry alone could conservatively total $8.3 billion annually.

The next DBB event will discuss retail “out of stocks” on May 26 at the Bentonville Clarion. Details are available at www.doingbusinessinbentonville.com.