Forecasting Demand Planning is the practice of predicting customer demand for products and services in order to ensure that a company can meet that demand. It is a vital part of any business plan, helping companies to determine how much of a product or service to produce, stock and provide. With forecasting demand planning, businesses can ensure that they have enough products and services available to meet customer needs without overstocking, which can lead to financial losses. By carefully observing current trends in demand and using predictive analytics, businesses can make more informed decisions about their production and supply chain processes.