Final answer:
CPFR is a business process that aligns forecasting and replenishment activities between suppliers and retailers to improve supply chain efficiency.
Step-by-step explanation:
CPFR, or Collaborative Planning, Forecasting, and Replenishment, is a process intended to integrate the forecasting and replenishment activities between suppliers and retailers. This strategy aims to enhance the supply chain's efficiency through shared forecasts that lead to better inventory management and, as a result, improved product availability at reduced costs. By collaborating, both parties can align their operations, which helps in reducing out-of-stock situations and excess inventory, making the end-to-end supply chain more responsive to consumer demands.