Does following a CRP Program ensure that you are getting the best market price at all times.
Today’s post is by Ronald D. Southard, CEO at SafeSourcing Inc.
Does following a CRP Program ensure that you are getting the best market price at all times.
Continuous replenishment is an ordering process based on the exchange of electronic data between a store and a distributor that indicates when a store is running low on a product and needs a new shipment of the item. CRP programs reduce inventory levels and operating costs by having products delivered on a frequent, as-needed basis. With CRP, consumer demands–based on scan data, warehouse movement, and sales forecasts— drive warehouse replenishment orders and shipping. In the most common form–vendor managed continuous replenishment– the distributor‘s warehouse transmits data daily to the vendor on inventory levels and store orders; the vendor is responsible for creating the orders necessary to ensure that the warehouse can meet the retailer ‘s product needs.
If you’d like to learn more about SafeSourcing’s E-Procurement solutions that can assist in making sure that your costs are as low as the market will possibly allow, please contact a SafeSourcing customer services associate.
