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HR Glossary

HR terms frequently used by HR professionals.

Demand planning 

What is demand planning?

Demand planning is a supply chain management practice aimed at forecasting demand for products and services.

What is the role of HR in demand planning?

Demand planning in HR includes:

1) Improving operations through investing in the right human resources to maintain high levels of customer satisfaction

2) Ensuring the right number of employees are available to fulfill orders in case of unexpected demand fluctuations

3) Reducing hiring costs by preparing the internal workforce for different outcomes

What is the difference between demand modeling and demand planning?

Demand modeling is forecasting demand for a product or service. In contrast, demand planning lays out a framework to efficiently produce and deliver the product or service to satisfy customers.

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