Demand planning and forecasting software is a type of procurement technology that can help businesses predict customer demand for a given product or service. This means that organizations will be able to better plan for the future, ensuring that they have enough stock on hand to meet customer needs. The software usually takes into account existing sales data and incorporates it with projected trends to provide accurate forecasts of future needs. It also allows companies to identify potential opportunities and take steps to capitalize on them in order to maximize profits. With this technology, businesses can stay ahead of the competition, while optimizing their inventory levels and costs at all times.