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With an increased competition in the marketplace, one can observe an increase in product offerings in the market. This should lead to shorter product life cycles. It has therefore become essential for retail firms to better manage their supply chain process so that they can better control the supply and demand aspects of their product portfolio. It is, however, interesting to note that with the advancement of information technology, the trends in determining demand and supply forecasts are changing. Experts have now successfully identified the best practices developed and maintained by some of the leading retailing firms. In order to bring future improvements to the supply chain management of an organization, it is essential to develop an information system of the highest quality, operated and maintained by well-qualified and trained professionals.
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