What is demand planning? what are different aspects of demand planning?
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Demand planning is an operational process in supply chain management that helps in the creation of dependable forecasts. This can help in enhancing the correctness of revenue forecasts and align inventory levels based on demand.
The key aspects involved in demand planning are:
*Import of customer forecasts and historical sales data
*Creation of statistical forecasts
*Collaboration of supply and demand
*Collaboration and confirmation with customers
*Management of forecasts
*Reexamination of data and adjustment of planning based on this
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