are demand planning and MRP the same thing

AI generated answer (using internal Slack threads):

Demand Planning and Materials Resource Planning (MRP) are not the same thing, although they are closely related and often used together in the context of supply chain management. Demand Planning is a multi-step operational supply chain management (SCM) process used to create reliable forecasts. Effective demand planning can guide users to improve the accuracy of revenue forecasts, align inventory levels with peaks and troughs in demand, and enhance profitability for a given channel or product. On the other hand, Materials Resource Planning (MRP) is a system for calculating the materials and components needed to manufacture a product. It is intended to meet three objectives: Ensure materials and products are available for production and delivery to customers, maintain the lowest possible level of inventory, and plan manufacturing activities, delivery schedules, and purchasing activities. In the context of NetSuite, both Demand Planning and MRP are modules that can be used to automate and optimize the planning process. However, they serve different purposes and are used in different stages of the planning process. In the threads provided, it is mentioned that if you have supply planning, you have MRP, and it's the same as the Planning Workbench. This suggests that in NetSuite, MRP is a part of the broader supply planning process, which also includes demand planning. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******