What Do You Mean by Supply and Demand Planning?

Supply and demand planning can be defined as a supply chain management process used for predicting or forecasting the demand for products so that the customers are satisfied and the business can supply them on time. The main goal of supply and demand planning is to reach a balanced level between meeting customer requirements and having sufficient levels of inventory without any surplus. The factors that influence demand at this level include labour force changes, severe weather, global crisis events, economic shifts, and natural disasters.

 

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