What is Demand Planning & Forecasting?
Demand planning and forecasting is a set of business processes that involves predicting future customer sales demand and aligning production and distribution capabilities to meet that demand forecast. The process involves a number of different functions within the total supply chain, including marketing, sales, finance, operations & production, distribution and store operations – both at the retailer and supplier, which requires the sharing of timely data, the accurate processing of that data, and agreement on joint business plans.
