Supply and Demand Planning

Supply and demand planning is the process of balancing what customers want (demand) with what a company can provide (supply). When demand is high and supply is low, prices often rise; conversely, if supply exceeds demand, prices may fall. Companies use data and forecasts to anticipate future needs, ensuring they have enough products available without overproducing. This planning helps optimize inventory, reduce costs, and meet customer expectations, ultimately leading to better business performance and customer satisfaction. It's a crucial part of managing resources effectively in any industry.