Material Planning is the process of ensuring that materials and components are available in the right quantities, at the right time and place, for production. It involves understanding customer demand and availability of supply, forecasting future demand, and determining how to meet that demand. Material planning also includes tracking inventory levels, generating reports, and making decisions about which parts to purchase and when. By having a well-defined material planning strategy, businesses can reduce costs, improve efficiency, and ensure their products reach customers on time.