Demand Planning - What is the difference between forecasting and demand planning?

Q: What is the difference between forecasting and demand planning?

The terms demand planning and demand forecasting are often used interchangeably. Though they are unmistakably linked in the supply chain management process, they are not the same thing. ... Demand planning is a process; accurate forecasts are the results of an effective demand planning process.

Answer

Many people use demand forecasting and demand planning as synonyms. They are distinct from one another, despite their undeniable connection to supply chain management. Having a well-executed demand planning process allows for more precise forecasting.

Demand Planning - What is the difference between forecasting and demand planning?

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