Final answer:
CPFR (Collaborative Planning, Forecasting, and Replenishment) is a concept that encourages and facilitates collaborative processes between members of a supply chain, aiming to improve communication and coordination to optimize inventory levels, reduce costs, and enhance customer satisfaction.
Step-by-step explanation:
The concept that encourages and facilitates collaborative processes between members of a supply chain is called CPFR (Collaborative Planning, Forecasting, and Replenishment). CPFR is a business practice that aims to improve communication and coordination among all stakeholders in a supply chain, including suppliers, manufacturers, distributors, and retailers. By sharing information and working together, CPFR helps to optimize inventory levels, reduce costs, and enhance customer satisfaction.