What are the components of supply planning?
Key components of supply planning include:
- Demand forecasting: Predicting customer demand using historical data and market trends.
- Inventory planning: Deciding how much stock to keep, where to store it, and when to replenish.
- Production planning: Scheduling manufacturing activities based on capacity and demand.
- Procurement planning: Managing the purchasing of raw materials or finished goods.
- Distribution planning: Ensuring products are delivered to customers or retail locations efficiently.
The goal is to balance supply and demand while minimizing costs, stockouts, and excess inventory.
With ForgeFlow Cloud ERP’s DDMRP system, supply planning is based on buffer status and demand-driven replenishment, ensuring materials are available when needed—without excess inventory.