Supply Chain Planning is a key component of Procurement that plays an integral role in optimising costs, managing supplier risk, and improving lead times. It involves analysing historical usage data to develop long-term forecasting models which help identify potential supply chain disruptions and recommend strategies for improved efficiency. These strategies may include inventory management, sourcing decisions, pricing negotiations, and product development. By employing the right tools and techniques, a company can proactively plan for success by predicting consumer demand, anticipating market shifts, and preparing for unexpected disruptions.