Demand Planning and its importance in business
When we see the world changing so quickly, the reason is usually obvious with the experience. Whether the sector is construction, manufacturing or trading, there is always an innovative or event that makes the transformation possible. The outbreak of the corona virus pandemic disrupts people’s work lives and routine behavioural patterns worldwide. As the COVID-19 virus spreads, consumers turned online and companies use online meetings to bring a collaboration within the team and departments. Smartphone capabilities increased dramatically as all the applications can be directly accessed on the fly. When change occurs, consumer demand follows. Demand planning is cross-functional process that forecast the demand for a product or service so it can be produced and developed to increase profit and efficiently satisfy customers. What is demand planning? Demand planning is a process of predicting or forecasting the future demands of a product or service and ensure that it can be made a...