Demand planning is a strategic process used by organizations to forecast and anticipate customer demand for their products or services. It involves analyzing historical data, market trends, and other relevant factors to estimate future demand accurately.
Demand planning enables companies to forecast sales volumes, adjust production capacities, manage inventories and plan operations accordingly.
Demand planning helps companies make informed decisions about procurement, production, and distribution to ensure that sufficient stock is available at the right time and in the right place. It also enables organizations to respond effectively to changes in demand, reducing stockouts and excess inventory. By aligning supply with demand, demand planning helps businesses enhance customer satisfaction, streamline operations, and achieve their financial objectives.
