There are many organizations who are working
with great hope of earning a profit and
good reputation. To attain this goal they are really doing great efforts. But
there are certain chances that many organizations are not able to achieve their
goals. The question arises where they are lacking behind? Well, if an
organization has no perfect planning then it will surely not able to attain its
target. The practice of planning for anything is an important factor. Without a
perfect plan, executing any task successfully is a very tough thing to do. It
is very important to choose a right plan
in order to execute task successfully.
Planning is deciding in advance to cope up
with uncertainties which prevail in the dynamic
business environment. Planning helps in achieving targets and fulfilling business
needs. When we talk about planning no organization can ignore demand planning. Demand planning deals with making
accurate decisions after studying the whole market conditions deeply. Customer
demand is intensely studied in context to demand planning. Those goods must be
manufactured which are higher in demand. Every organization has to be agile and
quick in response to market changes and internal factors to reduce losses and
leverage opportunities.
Along
with demand planning, no organization can
ignore supply chain planning. This is because supply is something which is
always accompanied with demand. After the deep study of market conditions, the next decision is related to
supply chain planning. It is obvious that those things must be supplied which
are higher in demand. So, a well-planned
supply chain is necessary in order to satisfy the customer’s demand. Supply chain planning deals with supplying
those goods and materials which are in demand by taking cost minimization and
productivity as a base. Supply chain planning has a direct impact on the profit
of the business. The key to successful business is having a perfect balance
between supply and demand. Supply chain planning deals with determining how
best to fulfill the requirement created from the requirement created from the
Demand plan.