A supply chain management philosophy in which a business responds quickly to customer orders. Analogous to just-in-time manufacturing; a business practice in the retail industry of which an important part is the strategic deployment of XML, EDI and bar coding. Produces improved inventory turns, avoidance of out-of-stocks and reduction of excess inventory. XML and EDI are used to deliver market data gathered at the point-of-sale (POS) terminals and delivered to suppliers much more quickly than using manual systems.
A strategy where partners in a supply chain work together to respond more rapidly to consumer demand. This may involve sharing point of sale data, forecast demand levels and making manufacturing as flexible as possible so that production can be agreed to consumer demand.
Introduced in the textile and apparel industry and has spread throughout general merchandising. QR became a business strategy for formulating strategic exchange relationships.