Final answer:
Single stage control of replenishment involves designating one supply chain member to monitor and manage inventory for the whole system.
Step-by-step explanation:
The supply chain management practice that involves designating one supply chain member to monitor and manage inventory for the whole system is single stage control of replenishment. This means that a single member of the supply chain, typically the manufacturer, takes responsibility for tracking and controlling inventory levels and replenishing stock.
For example, in a manufacturing supply chain where multiple suppliers provide components to a manufacturer, the manufacturer can implement single stage control of replenishment to streamline the inventory management process. They will monitor and manage inventory for the entire system, ensuring that they have the necessary components to meet production demands and avoid stockouts.
This practice helps reduce inventory holding costs, improve inventory visibility, and enhance overall supply chain efficiency.