Demand Planning Definition
Demand planning is the process of forecasting customer demand to ensure that the right products are available at the right time. It involves analyzing historical sales data, understanding market trends, and using statistical methods to predict future demand.
The goal of demand planning is to have the right products in stock when customers want them, while avoiding overstocking and stockouts. This requires close coordination between production, inventory, and sales. Effective demand planning can help businesses reduce costs, improve customer satisfaction, and increase profits.
