Demand planning or demand planning is the process of preparing and managing forecasts of future demand for a company’s products or services. It involves analyzing historical data, market trends, consumer behavior, and other relevant factors to estimate future demand.
Demand planning enables companies to forecast sales volumes, adjust their production capacity, manage inventory, and plan their operations accordingly.
This helps optimize supply chain management, reduce costs associated with overproduction or shortages, and improve customer satisfaction by delivering the requested products or services efficiently and in a timely manner.
