Demand Planning
Demand planning is a cross-functional business process that uses statistical forecasting, market intelligence, and historical data to predict future customer demand for products or services. It involves analyzing sales trends, seasonality, promotions, and external factors to create accurate demand forecasts, which serve as a foundation for supply chain management, inventory control, and production scheduling. The goal is to align supply with expected demand to minimize stockouts, reduce excess inventory, and improve operational efficiency.
Developers should learn demand planning when working on applications for retail, manufacturing, logistics, or e-commerce, as it helps build systems that optimize inventory, forecast sales, and support data-driven decision-making. It is particularly useful for roles involving data analytics, ERP systems, or supply chain software, where accurate demand predictions can reduce costs and enhance customer satisfaction by ensuring product availability.