What is Demand Planning process?
Demand Planning is a process for analysing, evaluating and forecasting the demand for goods in the supply chain management. This forecast is conducted in order to reliably delivered goods to the customer. Demand planning gives businesses the ability to accurate predict future sales and to plan ahead of time.
The key advantages of demand planning is to increase the accuracy of the future revenue prediction; to optimise the company’s stock according to demand; gain insights into the market trends; to manage distribution networks effectively.