| Demand planning consists of two parts: forecasting and demand planning. Forecasting focuses on what is needed to have ready for customers. Demand planning focuses on what is needed in order to meet inventory levels from forecasting. Demand planning is the process of planning materials from inbound to manufacturing, which is critical in today’s environment of lean inventory and just-in-time manufacturing. The process starts with the general requirements of the sales department for finished, or semi-finished, products and the translation of those requirements into the just-right orders for raw materials. This function also includes the processes needed to address corrective actions when demand is out of balance with supplies and strategies for recovery.
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