Final answer:
Collaborative supply chain in operations management involves organizations working together to optimize the flow of products, services, and information. Examples include vendor-managed inventory systems and collaborative forecasting.
Step-by-step explanation:
Collaborative supply chain is a concept in operations management that involves multiple organizations working together to optimize the flow of products, services, and information throughout the supply chain. It is a collaborative approach that aims to enhance efficiency, reduce costs, improve customer satisfaction, and foster innovation.
One example of collaborative supply chain is the use of vendor-managed inventory (VMI) systems, where suppliers have access to real-time data on inventory levels and can manage replenishment themselves, resulting in reduced stockouts and improved overall inventory performance.
Another example is collaborative forecasting and planning, where suppliers and customers share information to improve the accuracy of demand forecasting and optimize production and inventory levels.