Update on Forecasting vs. Demand Planning
Supply Chain Action Blog
FEBRUARY 17, 2017
Often, the terms, “forecasting” and “demand planning”, are used interchangeably. . The fact that one concept is a subset of the other obscures the resulting confusion. . Forecasting is the process of mathematically predicting a future event. As a component of demand planning, forecasting is necessary, but not sufficient. Demand planning is that process by which a business anticipates market requirements. .
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